Bangladesh has secured a $2.1 billion commitment in Chinese investments, loans, and grants following a significant visit by Chief Adviser Professor Muhammad Yunus to China, officials announced.
The pledge includes joint investments worth $1 billion from nearly 30 Chinese companies for the establishment of an exclusive Chinese Industrial Economic Zone in Bangladesh. This comes after Yunus encouraged Chinese private enterprises to explore opportunities in the country’s manufacturing sector.
Additionally, China will extend a $400 million loan for the modernization of the Mongla port, $350 million for the development of the China Industrial Economic Zone, and $150 million in technical assistance. The remaining amount will be provided through grants and other financial support.
Chinese Ambassador to Bangladesh, Yao Wen, described the visit as a “milestone,” highlighting the significance of Yunus’s four-day bilateral trip to China.
Ashik Chowdhury, Executive Chairman of the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zone Authority (BEZA), expressed optimism that this visit would trigger a wave of Chinese investment into Bangladesh.
During his discussions with President Xi Jinping, Prof. Yunus urged China to encourage private companies to invest in Bangladesh. In response, Xi expressed his support, stating that China would help facilitate the relocation of Chinese manufacturing plants to Bangladesh, particularly as companies seek to diversify their production destinations.
“This visit will significantly contribute to attracting Chinese investments,” Chowdhury remarked, noting the strong interest expressed by Chinese companies in sectors like advanced textiles, pharmaceuticals, light engineering, and renewable energy. Yunus and Chowdhury briefed over 100 Chinese companies in Beijing, with the response described as overwhelmingly positive.
Both officials remain confident that it is only a matter of time before Chinese companies begin investing heavily in Bangladesh.
