FBCCI leaders invite Chinese investment

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) invited the Chinese businessmen to invest in pharmaceuticals, automobile and other prospective sectors in Bangladesh.  The lucrative offers were placed on the table so that Chinese entrepreneurs can come forward for investment, FBCCI hoped. FBCCI also expressed interest for joint venture with China in automobile sector. 

These observations came at a meeting between the business leaders of FBCCI and the 10 member Chinese delegation of CCPIT (China Council for the Promotion of International Trade). 

FBCCI President Md Shafiul Islam (Mohiuddin) chaired the meeting held on Monday at FBCCI board room in the city while directors of FBCCI and the heads of different trade associations attended the meeting.   Representatives from Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA) and Bangladesh Export Processing Zones Authority (BEPZA) also joined the meeting. 

FBCCI President briefed the delegation about FBCCI's role and the current economic progress of the country. Despite infrastructural deficiency, Bangladesh is moving very fast, he added. Bangladesh achieved Consistent GDP growth of over 6% during recent years while has been mainitaing over 7% GDP growth in the past two years. Bangladesh is just one step close to reaching the target of 8% growth and transforming into a middle income country by 2021, Mohiuddin mentioned.

The FBCCI Chief told about the lucrative investment facilities of Bangladesh government including tax holiday, corporate tax incentive and invited the Chinese businessmen to invest in the prospective sectors of Bangladeh. As Bangladesh is a huge market of 160 million people, Chinese investors can come forward for investment using their raw materials in production of different sectors, he added. Director of CCPIT (Shandong) Zou Xia led the Chinese Delegation. 

Xia recalled the historic friendly relationship between China and Bangladesh and emphasised further strengthening of the bilaterial trade between FBCCI and CCPIT. Bangladesh has many investment in Textile sector from Shandong province, she mentioned. CCPIT is working as the trade promotion council for expansion of bilateral trade between China and Bangladesh. The council will continue its effort to make partnership between the potential enterprises of both countries, she added. 

Representatives from textile, rubber, tyre and microphone etc participated at the meeting from CCPIT. It may be mentioned that, Bangladesh exported total amount of US$949.41 million to China in 2016-17 and imported the amount of US$10128.1 million. 

The principal export products of Bangladesh to China are woven garments, leather goods, knitwear, jute and jute goods and leather and frozen foods etc. The import items from China are textiles and textile articles, machinery and mechanical appliances, electrical equipment and products of chemical or allied industries etc.