PM Tarique announces Bangladesh’s first investment office in China

Prime Minister Tarique Rahman on Thursday announced that Bangladesh will soon open its first investment office in China as part of efforts to strengthen economic ties and facilitate greater Chinese investment in the country.

Speaking at an event titled “Invest Bangladesh”, organised by Chinese industrialists and institutional investors at the State Guest House Diaoyutai in Beijing, Tarique also invited Chinese companies to expand their value chains in Bangladesh.

Highlighting ongoing efforts to improve the investment environment, he said work is underway to modernise the bilateral investment treaty with China.

Stating that work is under way to improve the bilateral investment treaty with China, he said: "In this way, investors can be more confident, have clearer protections, and avail themselves of a more modern framework for investment. The leading investment promotion agency BIDA now has a specialised relationship management desk for Chinese investors.

"As you have seen, there is also a specialised website for Chinese investors so that opportunities, incentives and procedures in various sectors can be more easily accessed."

Announcing the planned investment office, the prime minister said, "Today I am more than happy to announce that we are going to open our first ‍‍`investment office‍‍` in China soon. Our objective is very simple. Chinese investors will not have to wait until they come to Bangladesh to get support.

“We want to be closer to you, communicate to you more regularly and help you speed up the process of reaching decisions according to your own interests.”

On the broader investment climate, Tarique said the government is launching a new licence approval process that will enable new businesses to begin operations in Bangladesh in less than 15 days.

“We recently announced the national budget, where we announced sector-wise incentives and policy benefits for priority sectors such as renewable energy, pharmaceuticals and healthcare, electronics, digital infrastructure, agro-processing and advanced textiles.”

Addressing Chinese investors, the Bangladeshi prime minister said: “All these initiatives have one purpose—to ensure that investors and businesses can come to Bangladesh more easily, confidently and transparently.

“I am not standing here saying that everything is perfect. But I want to assure you that we are aware of the problems, we are working on them, and we will continue to resolve them.”

Tarique arrived in the northeastern Chinese city of Dalian on Monday to attend a World Economic Forum conference after completing his first foreign visit to Malaysia on Sunday and Monday.

He travelled to Beijing on Wednesday afternoon local time for a three-day state visit at the invitation of Chinese Premier Li Qiang.

According to the schedule, the Bangladeshi prime minister will be formally welcomed at the Great Hall of the People in Beijing on Thursday afternoon, followed by bilateral talks between the two countries led by the two premiers.

On Friday, Tarique is expected to meet Chinese President Xi Jinping and other leaders of the Communist Party of China at the Great Hall of the People.

Renewing his call for deeper economic engagement, Tarique Rahman said, “Today, I invite more Chinese companies to look at Bangladesh in a new light. My government makes an unwavering commitment to you - your investments will be valued, your concerns will be heard, and your growth will be supported through a more responsive investment regime.

“Let us move forward from this forum with a common resolve that will transform the potential in this region into long-term sustainable growth, economic development, and mutual prosperity for both Bangladesh and China.”