Dhaka: Calling upon Chinese companies to invest in Bangladesh, Chief Adviser Professor Muhammad Yunus today emphasized that robust Chinese investment could significantly impact the Bangladesh economy. “I urge Chinese investors to make Bangladesh their home and their production hub…the young people are ready to accept that challenge,” he stated at the China-Bangladesh Conference on Investment and Trade in the Bangladesh Investment Development Authority (BIDA) office, Agargaon.
According to Bangladesh Sangbad Sangstha, the conference was jointly organized by the governments of Bangladesh and China. Professor Yunus highlighted the longstanding Dhaka-Beijing relations and recalled his recent visit to Beijing where he requested Chinese President Xi Jinping to encourage Chinese companies to invest in Bangladesh as it aspires to become a manufacturing and economic hub in the region. He expressed gratitude that President Xi responded by sending a high-powered Chinese business delegation to Bangladesh promptly.
Professor Yunus remarked that Chinese companies excel in manufacturing, and Bangladesh seeks to become their partner. “Your largest scale investment can be a game changer for our economy,” he claimed, emphasizing the need for good jobs for the millions of young workers in Bangladesh. He discussed the interim government’s initiatives to attract investment by implementing reforms, enhancing the investment climate, and ensuring a conducive environment for business operations.
The chief adviser noted Bangladesh’s ongoing efforts to attract direct foreign investment, stimulate economic growth, and create employment opportunities for its youth. Highlighting that half of Bangladesh’s population is under the age of 26, he described them as the nation’s driving force, characterized by creativity and dedication. He also mentioned the Bangladesh Investment Summit held in April, where a prominent Chinese textile firm announced a $100 million investment in Bangladesh’s spinning sector.
Professor Yunus acknowledged Bangladesh’s strategic location in South Asia and its dynamic workforce, making it an ideal investment destination. However, he admitted that for decades, the country struggled to attract foreign direct investment, with empty economic zones developed. He attributed this to widespread corruption, misrule, and dictatorship, which deterred potential investors.
He credited the July Uprising, led by a large number of young people, for ending this era and committing to creating a new Bangladesh. “And that is opportunity that we got right now in the history. So, please be part of our history. Make a history for this nation with us,” he urged.
Professor Yunus invited Chinese investors to explore the extensive opportunities Bangladesh offers in sectors such as textiles, garments, pharmaceuticals, agro-processing, fisheries, jute, and information technology. The conference also featured speeches by Chinese Commerce Minister Wang Went and Chinese Ambassador to Bangladesh Yao Wen, with participation from about 250 investors and businessmen from 100 Chinese firms.