Chinese delegation eyes Bangladesh textile, chemical sectors for new investments
Chinese representatives sought detailed information on existing government incentives for textile investment, as well as the regulatory requirements involved.
A large delegation of Chinese business leaders is currently visiting Dhaka to explore investment opportunities in Bangladesh's textile sector and textile-related chemical manufacturing industry.
The delegation held a meeting in Gulshan yesterday (27 April) with representatives of the Bangladesh China Chamber of Commerce and Industry (BCCCI).
During the meeting, the Chinese representatives sought detailed information on existing government incentives for textile investment, as well as the regulatory requirements involved.
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They also inquired about tax and VAT policies related to textile chemical production, including whether any rebates are available on machinery imports.
The delegation further asked about the availability of land for investment projects.
In response, BCCCI representatives outlined the current tax and VAT incentives offered by the Bangladesh government and encouraged the delegation to invest in the country.
They also highlighted opportunities for joint ventures, particularly in textile mills.
According to the BCCCI, around 40 textile mills are facing financial and technological challenges.
BCCCI President Mohd Khorshed Alam said, "Chinese investors could benefit by entering into joint ventures in these factories, bringing both capital and technological support, which will be mutually profitable."
He proposed expanding cooperation in areas such as opening branches of Chinese commercial banks in Bangladesh, investing in the country's stock market, developing solar power projects, and establishing technical and vocational education institutions to facilitate technology transfer.
Li Lingshen, vice president of the China National Textile and Apparel Council, said potential sectors for collaboration between the two countries will be further reviewed.
The 20-member Chinese delegation also included Lin Lin, president of the China Dyeing and Printing Association, and Vice President Dong Shuxiu, along with representatives from several leading textile and chemical companies.
