Dhaka: Chinese investors are showing a keen interest in investing in Bangladesh's green technology, jute, textiles, and pharmaceuticals as part of efforts to support the manufacturing transformation envisioned by Chief Adviser Professor Muhammad Yunus. This development was highlighted by the Vice-President of the Export-Import Bank of China, Yang Dongning, during a meeting with the Chief Adviser at the State Guest House Jamuna.
According to Bangladesh Sangbad Sangstha, Yang Dongning emphasized that while China has historically invested heavily in Bangladesh's large infrastructure projects, there is now a growing focus on key manufacturing sectors. These include investments in rooftop solar panels and large-scale initiatives in Bangladesh's 'golden fibre,' jute, especially for producing energy, bio-fertilizer, and alternatives to plastic. Chinese enterprises and the Exim Bank, which previously financed major infrastructure projects in Bangladesh, are interested in funding these direct manufacturing investments.
Dr. Ma Jun, President of the state-run Institute of Finance and Sustainability, also highlighted that Bangladesh's traditional jute industry is a significant area of interest for Chinese investors, who are considering joint ventures with Bangladeshi counterparts. Chinese firms are prepared to utilize up to one million tonnes of jute to produce green energy, fertilizers, and feasible substitutes for plastics. Dr. Ma stated, 'There are opportunities for joint ventures in jute with Chinese financing.'
The Chief Adviser welcomed China's interest in Bangladesh's manufacturing sectors, recognizing the potential for transforming Bangladesh into a manufacturing hub supplying goods to developed nations, including China. Professor Yunus identified pharmaceuticals and healthcare as additional sectors with strong potential for Chinese investment. He noted that China, being the largest producer of solar energy, could significantly support Bangladesh's transition to green energy through investments in solar panels and rooftop solar systems.
Professor Yunus also encouraged China to relocate manufacturing plants to Bangladesh, emphasizing the potential utilization of the country's extensive pool of young workers. He suggested that closed state-run jute mills could be repurposed for new joint ventures. 'This is a very important dimension. We welcome this. We want to translate these into actions,' Professor Yunus said, referring to Chinese interest in jute-based manufacturing.
Yang Dongning mentioned that Chinese companies are also exploring investments in AI and e-commerce, areas where China has emerged as a global leader. In response, the Chief Adviser invited Chinese firms to relocate factories to southeastern Bangladesh, which hosts the country's largest seaports and offers strategic proximity to Myanmar, Thailand, and other Southeast Asian markets. 'This part of the country has enormous access to the sea. Chinese industries could be relocated here-they can produce goods and export them to rich nations as well as to China,' he stated.
Professor Yunus also urged Chinese infrastructure companies to build railway links connecting Bangladesh with southern China to facilitate exports from relocated manufacturing plants alongside regional connectivity. At the start of the meeting, the Chief Adviser expressed deep condolences following the deaths of scores of people in a fire incident in an apartment block in Hong Kong.