Chairman of China Export-Import Bank Chen Huaiyu today said his bank would support the relocation of Chinese manufacturing plants to Bangladesh to make the country a platform for export to other nations.
The China Exim bank is a key financier of Beijing-funded infrastructure and energy projects in Bangladesh, but this is the first time it showed interest in supporting investment from Chinese private manufacturers in the South Asian country.
Huaiyu's comments came when he called on Bangladesh Chief Adviser Professor Muhammad Yunus on the sideline of the Boao Forum for Asia Annual Conference 2025 at the Chinese coastal town of Boao.
Chief Adviser Prof Yunus said Bangladesh's strategic location and its human resources can transform the country into a manufacturing hub for top global companies both from China and elsewhere in the world.
He said he has invited top Chinese private manufacturers to relocate their factories to Bangladesh, saying his government would offer attractive benefits for the manufacturers and provide a trade corridor.
"Bangladesh can be complementary to China as far as manufacturing is concerned," Prof Yunus said, adding the Interim Government is fast-tracking the construction of a Chinese Special Economic Zone in the Chattogram region.
Prof Yunus said Bangladesh was also building large new ports to serve not only its economy but also the landlocked countries of Nepal and Bhutan and India's seven north-eastern states.
Chen Huaiyu said Bangladesh is perfectly located to serve both south-eastern and far eastern Asia and also the Middle East and Western Asia.
He said, more and more Chinese companies are going global and his bank would support their investment in Bangladesh and develop its manufacturing sector.
The China Eximbank would also support building infrastructures in Bangladesh to support the country's socio-economic and sustainable growth, he said.
Citing how Vietnam has transformed its economy by attracting Chinese and Western manufacturers, Chen said Bangladesh needs to improve its business environment in an effort to woo investors from China.
In response Prof Yunus said, "We will learn from Vietnam."
During the meeting, Bangladeshi officials also sought quick disbursement of Eximbank’s funding and support in new infrastructure projects such as the Dasherkandi Sewage plant. They also urged the bank to reduce the bank's commitment fees, which raise project costs.
Chen said his bank would look into the proposals. He urged Bangladesh to switch to take more concessionary loans in RMB, the Chinese currency.
Officials from both the countries are likely to be reconvened soon to firm up and take decisive actions enabling key decisions, which were made in the meeting on Thursday.
Foreign Adviser Touhid Hossain, Energy and Transport Adviser Fouzul Kabir Khan, High Representative of the Chief Adviser Dr Khalilur Rahman and the executive chairman of the Bangladesh Investment Development Authority Ashiq Chowdhury were also present.
Source: BSS
bd-pratidin/Rafid
