Bida's first overseas office soon in China to woo investors: PM Tarique

Bangladesh has signed a series of agreements with Chinese partners aimed at boosting industrial development and attracting investment, while Chinese manufacturer Handa announced plans to invest $220 million in a new factory at the Keraniganj Economic Zone.

The deals were signed today (25 June) during the "Invest Bangladesh" seminar in Beijing organised by the Bangladesh Investment Development Authority (Bida), in partnership with the Embassy of Bangladesh in China and the China Council for the Promotion of International Trade (CCPIT).

At the event, Tarique invited Chinese firms to extend their manufacturing value chains into Bangladesh, assuring them of reforms, faster approvals, and institutional support.

He also announced that Bida's first overseas investment office will soon be established in China to provide direct support for prospective Chinese investors and facilitate faster investment decisions.

He also announced a dedicated China Relationship Desk and a Chinese-language digital platform named "China Investment Gateway".

"We are inviting Chinese companies to extend their value chains into Bangladesh. We can help Chinese companies serve global markets while benefiting from growing domestic demand," he said, describing the opportunity as a "complementary, practical and win-win relationship".

The MoUs

Among the key developments was the signing and exchange of a Memorandum of Understanding (MoU) for the China-Bangladesh Mongla Port Economic Zone, which will advance the development of the industrial zone adjacent to Mongla Port in Bagerhat, said a Bida press release.

An agreement relating to the Chinese Economic and Industrial Zone in Anwara, Chattogram, was also formally signed and exchanged with China Road and Bridge Corporation (CRBC), paving the way for further progress in one of Bangladesh's flagship Chinese-backed industrial zones.

In addition, Bida and CCPIT signed a cooperation MoU to strengthen collaboration on investment promotion, business matchmaking and investor facilitation for Chinese enterprises interested in investing in Bangladesh.

Handa to invest $220m

A major investment announcement came from Handa Industries, which received provisional land allotment in the Keraniganj Economic Zone. The company plans to establish a factory on the allotted land with an investment of $220 million.

The proposed factory is expected to create employment opportunities for around 13,000 people, according to officials.

This will be Handa Industries' second manufacturing facility in Bangladesh. The company established its first factory at the Mirsharai Economic Zone in Chattogram last year with an investment of $100 million, generating approximately 12,000 jobs.

'Bangladesh is open for business'

Speaking at the event, Tarique said Bangladesh is undergoing a "monumental economic and governance transformation" and was ready to become a trusted hub for Chinese businesses.

"Bangladesh is open for business, ready for the future, and keen to work with China, one of our longstanding and trusted friends," the prime minister told the audience.

Tarique said the new investment office would help Chinese investors receive support before arriving in Bangladesh. "We want to be closer to you, speak to you more regularly and help you move faster from interest to decision," he said.

He said the government had launched a 180-day action plan to reform investment institutions and remove long-standing bureaucratic barriers. The initiative includes improving policy continuity, reducing overlapping regulations and digitising government services to ensure greater transparency and efficiency for investors.

Tarique assured foreign investors of non-discriminatory treatment, repatriation of capital and dividends under existing laws, and stronger legal protections.

PM seeks Chinese support in hospital

The prime minister, during a meeting with Liu Haixing, minister of International Affairs of the Communist Party of China, sought China's support in Bangladesh's development projects and construction of China-Bangladesh Friendship Hospital, reports UNB.

Haixing said he was looking forward to China's cooperation in Bangladesh's development projects and the construction of the China-Bangladesh Friendship Hospital. He hoped that the legacy of the long-standing friendly relations between the two countries would continue.

He hoped that new areas of cooperation would be created in the future, especially in the areas of media, think-tanks, people-to-people contact and improvement of living standards.

Haixing said China is a strong supporter of Bangladesh's sovereignty, security and development and stressed advancing the relations between the two countries on the basis of mutual respect and cooperation.