Bangladesh and China on Thursday signed key agreements to develop economic zones at Mongla and Anwara, marking a fresh push to attract Chinese investment and deepen industrial cooperation between the two countries.
The agreements were signed during the “Invest Bangladesh” seminar held at Beijing’s Diaoyutai State Guesthouse, where several Chinese companies also expressed interest in investing hundreds of millions of dollars in Bangladesh, according to a release.
The event was jointly organised by the Bangladesh Investment Development Authority (BIDA), the Bangladesh Embassy in China and the China Council for the Promotion of International Trade (CCPIT).
Among the major outcomes was the signing of a memorandum of understanding (MoU) to develop the China-Bangladesh Mongla Port Economic Zone near Mongla Port in Bagerhat.
A separate agreement was also signed with China Civil Engineering Construction Corporation (CCECC) for the establishment of a Chinese Economic and Industrial Zone in Anwara, Chattogram.
According to BIDA, Prime Minister Tarek Rahman attended the seminar as chief guest during his official visit to China. The event brought together senior government officials, business leaders and leading Chinese investors.
Addressing the gathering, Rahman said Bangladesh is undergoing economic and governance reforms and remains open for business.
“As China moves further up the global value chain, parts of its manufacturing base will seek new competitive destinations. Bangladesh has the potential to become one of those destinations,” he said.
The prime minister also announced several initiatives aimed at facilitating Chinese investment, including the establishment of dedicated Chinese economic zones, BIDA’s first overseas investment office in China, a specialised China Relationship Desk for investors, and a Chinese-language digital platform named “China Investment Gateway.”
Prime Minister’s Adviser Humayun Kabir said the government’s objective is to transform Bangladesh into a high-income, export-oriented, industrialised and innovation-driven economy.
“We invite Chinese investors to become long-term partners in Bangladesh’s growth journey,” he said.
CCPIT Chairman Ren Hongbin noted that China has remained Bangladesh’s largest trading partner for 16 consecutive years. He said nearly 700 Chinese-funded enterprises are currently registered in Bangladesh and pledged continued efforts to strengthen business-to-business ties and encourage greater Chinese investment.
Delivering the keynote presentation, BIDA Executive Chairman Ashik Chowdhury said Bangladesh continues to stand out as an attractive investment destination despite global economic uncertainties, citing its large domestic market, economic resilience and growth prospects.
He said the government is focusing on reducing regulatory hurdles, speeding up approvals and implementing investor-friendly policies following the recent elections.
The seminar also featured a fireside discussion with Chinese investors already operating in Bangladesh. Representatives from Liz Fashion Industry Ltd and KMK Group shared their experiences and highlighted opportunities in the country’s manufacturing sector.
BIDA announced that Handa Industries Ltd has received a provisional land allocation in the Keraniganj Economic Zone for a new $220 million manufacturing facility. The project is expected to create around 13,000 jobs.
The investment will be the company’s second major venture in Bangladesh. Handa previously invested $100 million in a factory at the Mirsarai Economic Zone in Chattogram, generating approximately 12,000 jobs.
On the sidelines of the seminar, Prime Minister Rahman held separate meetings with executives from several leading Chinese companies, including KMK Group and Handa Industries, to discuss future investment expansion and broader economic cooperation between the two countries.