The Bangladesh Investment Development Authority on Sunday urged China-based manufacturers to consider investing in Bangladesh.
In an 鈥榦pen letter鈥� to Chinese investors, BIDA executive chairman Chowdhury Ashik Mahmud Bin Harun highlighted that Bangladesh was ready to position itself as an attractive destination for manufacturers seeking to relocate or expand their operations.
鈥楾he post-election developments in the United States signal big increases in tariffs and duties for China-based manufacturers,鈥� wrote Chowdhury, a former senior HSBC banker.
鈥業n this context, we extend an open invitation to our investor friends in China and are committed to supporting them in navigating the evolving landscape,鈥� he wrote.
He emphasised potential investment opportunities in sectors such as garments, electronics, solar value chain and automotive industries, saying, 鈥榃e are committed to tailor a favourable investment environment for the investors with attractive incentive programmes and benefits.鈥�
Over the past month, the BIDA chief engaged with at least 200 chief executive of ficers from multinational and local companies.
鈥榃e are already witnessing quite a lot of interests from China-based manufacturers seeking to diversify their risks and manufacturing bases,鈥� he said.
China became the largest source of foreign direct investment for the country in 2022. The BIDA executive chairman noted that this momentum is expected to increase with the Trump administration鈥檚 policies taking effect in January 2025.
Drawing from his experience as an investment banker, he mentioned his familiarity with Chinese manufacturers鈥� regional expansion over the past decade.
鈥榃ith the new US political landscape, the trend is likely to grow,鈥� he remarked.
鈥楤angladesh is eager to welcome these investors with customised support. That鈥檚 my commitment as the chief marketing officer of Bangladesh,鈥� he added.