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News18
3 days ago
- Business
- News18
'We Want to Be Your Partner': Yunus Urges Stronger Bangladesh-China Ties Amid India Tensions
Last Updated: Yunus added that these efforts aim to attract foreign direct investment, stimulate economic growth, and generate employment opportunities for the country's youth. Bangladesh Chief Adviser Prof Muhammad Yunus on Monday said that large-scale Chinese investment in Bangladesh can be a game changer for the country's economy, reported Bangladeshi news website The Daily Star. 'Chinese companies are the masters of manufacturing in the globe, and we want to be your partner," Yunus said while inaugurating the China-Bangladesh Conference on Trade and Investment, reported the news website. The daylong event was organized by the Bangladesh Investment Development Authority (BIDA) with assistance from the Bangladesh Economic Zones Authority (BEZA) and the Chinese government at the BIDA office in Dhaka. China's Commerce Minister Wang Wentao attended the event as a special guest. During the event, Yunus also highlighted that tens of millions of young Bangladeshis are eager for meaningful employment to showcase their skills. 'Bangladesh stands on the cusp of a transformative era. Our interim government has been steadfast with implementing reforms aimed at enhancing the investment climate, streamlining regulatory frameworks, and ensuring a conducive environment for business operations," Yunus said, The Daily Star mentioned. Yunus added that these efforts aim to attract foreign direct investment, stimulate economic growth, and generate employment opportunities for the country's youth. He described the conference as a historic occasion for Bangladesh, particularly as this year marks the 50th anniversary of the enduring friendship between Bangladesh and China. During the event, Bangladesh chief adviser emphasized the need to build a future that aspires to reach new heights, highlighting the shared potential of Bangladesh and China. He also mentioned that during his recent visit to Beijing, he had encouraged Chinese President Xi Jinping to support greater investment from Chinese companies in Bangladesh, expressing gratitude for the president's commitment. Recent Strain With India In recent months, India-Bangladesh relations have experienced significant strain, particularly following the ousting of former Prime Minister Sheikh Hasina in August 2024. The interim government led by Muhammad Yunus has pursued a foreign policy that appears to distance itself from New Delhi, fostering closer ties with Beijing and Islamabad. This shift has been marked by a series of reciprocal trade restrictions, including India's imposition of port curbs on Bangladeshi imports such as readymade garments and processed foods, in response to similar measures from Dhaka. Additionally, the cancellation of a $21 million defense contract by Bangladesh with India's state-owned Garden Reach Shipbuilders and Engineers Ltd has further exacerbated tensions. First Published: June 03, 2025, 09:04 IST
Zawya
02-04-2025
- Business
- Zawya
Bangladesh secures $2.1bn in investments, loans and grants from China
Dhaka: Bangladesh has secured a commitment of USD 2.1 billion in Chinese investments, loans, and grants from the Chinese government and its companies during Chief Adviser Muhammad Yunus's "milestone" visit to China. Bangladeshi officials and the Chinese ambassador to Dhaka, Yao Wen, said nearly 30 Chinese companies have pledged to invest one billion dollars in the exclusive Chinese Industrial Economic Zone after the Chief Adviser urged private enterprises to invest in Bangladesh's manufacturing sector. China has also planned to lend some USD 400 million in the Mongla port modernisation project, some USD 350 million in the development of the China Industrial Economic Zone and another USD 150 million as technical assistance. The rest of the amount would come as grants and other forms of lending. "It is a milestone visit," Chinese envoy Yao Wen said, referring to the Chief Adviser's first four-day-long bilateral tour to China. Ashik Chowdhury, the Executive Chairman of the Bangladesh Investment Development Authority and Bangladesh Economic Zone Authority, said the visit could propel a "surge" of Chinese investment to Bangladesh. During the bilateral meeting, Professor Yunus has requested President Xi Jinping to give his "green signal" to Chinese private companies to invest in Bangladesh. Chowdhury said President Xi affirmed that he would encourage Chinese firms to relocate their manufacturing plants to Bangladesh as they look to diversify their production destinations. "This visit will play a big part in persuading many Chinese companies to invest in Bangladesh. It is just a matter of time," he said. On Friday, Professor Yunus and Ashik Chowdhury briefed officials of more than 100 Chinese companies, including some of the biggest in the world, to invest in manufacturing in Bangladesh, especially in advanced textiles, pharmaceuticals, light engineering and renewables. They spoke in three interactive sessions in Beijing. "So far, the response is very positive," he said. © Muscat Media Group Provided by SyndiGate Media Inc. (
