PM's China visit to focus on economic zone, fresh investment, infrastructure projects

Prime Minister Tarique Rahman's upcoming visit to China will focus on several issues, including attracting new investments, advancing the long-awaited Chinese Economic Zone, and securing support for major infrastructure projects, according to Bangladesh Investment Development Authority Executive Chairman Ashik Chowdhury.  

The visit is highly significant for Bangladesh's investment agenda, and political and other bilateral issues will also feature in discussions, he said while speaking to reporters after a workshop "Bangladesh's Investment Flows and Investment Facilitation" at Bida's Agargaon office today (18 June).  

Photo: Courtesy

The premier is scheduled to visit China on June 23-26. As part of this, Bangladesh is preparing to host a major investment conference in Beijing aimed at engaging Chinese investors and showcasing new business opportunities in the country, Ashik, also executive chairman of the Bangladesh Economic Zones Authority.  

He said meetings are also being arranged between the prime minister [Tarique Rahman] and several large Chinese companies that are considering investment opportunities in Bangladesh.

"China is an extremely important and strategic partner for Bangladesh," he said. "This visit will cover not only investment issues but also economic, infrastructure and broader bilateral cooperation."

One of the key items on the agenda will be the proposed Chinese Economic Zone in Chattogram, a project that has remained under discussion between the two countries for years, Ashik said. 

According to the Beza head, negotiations have now reached a stage where major decisions regarding land development and construction could be taken.

"We hope to see significant progress on the economic zone during this visit, potentially including groundbreaking activities or the start of implementation work," he said.

The government also plans to highlight investment opportunities in Chattogram and Mongla where Chinese investors have shown growing interest in developing industrial and manufacturing facilities, the Bida chief said. 

The government believes the first two years of a new administration offer the best window for securing large-scale investments. Bangladesh is therefore seeking to leverage the visit to attract Chinese capital into infrastructure, manufacturing and export-focused sectors, he said. 

"Our objective is to demonstrate to Chinese investors that this is the right time to invest in Bangladesh," Ashik said. "We also want to present opportunities in large infrastructure and industrial projects that are essential for sustaining economic growth."

On economic zones, he said the government is currently concentrating on 10 priority zones, including both public-sector and government-to-government projects. 

"Our immediate goal is to successfully implement these 10 economic zones by 2030. At this stage, we are not planning to develop any major new greenfield economic zones," he said.

Instead, the government is exploring ways to convert large tracts of land occupied by closed industrial facilities into industrial parks or special economic zones. The possibility of developing multi-purpose industrial zones on previously state-owned jute mill sites is also under consideration, Ashik said. 

Addressing investor concerns, he identified energy shortages as the biggest challenge facing both local and foreign investors, noting that gas shortages have severely affected industrial production.

The government is working to improve energy supply, including expanding renewable energy projects and facilitating industrial-scale solar power generation within economic zones, the Bida executive chairman said. 

However, Ashik cautioned that the energy crisis cannot be resolved quickly.

"If we decide today to install a new floating LNG terminal, it would still take at least 18 months to become operational. No solution can fully address the energy shortage in less than one and a half to two years," he said.

Ashik expressed hope that ongoing initiatives would significantly improve the energy situation by 2027-28, creating a more attractive environment for investors.

At the workshop, Bida Executive Member and Head of Business Development Nahian Rahman Rochi outlined the agency's investment promotion strategy, saying Bida has set a target of securing $1.5 billion in new foreign direct investment proposals this year.