The head of the Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun in an "open letter" to the Chinese investors said that they may consider Bangladesh as a potential destination to relocate industries or diversify investment here in the post Trump era.
He has invited them to invest in Bangladesh as the USA may increase tariff and import duty on Chinese goods under the Trump presidency. Chowdhury, a former senior banker with HSBC wrote.
"In this context Bangladesh extend an open invitation to investor friends in China and are committed to supporting them in navigating the evolving landscape."
"We see potential in industries like garments, electronics, solar value chain and automotive. We are committed to tailor a favorable investment environment for Chinese investors with attractive incentive programs and benefits," he said.
China has been a long partner of Bangladesh and in 2022 it has become the largest source of Foreign Direct Investment (FDI).
The BIDA chief, who in the past month met at least 200 CEOs of multinational and local companies, said contrary to what some political experts were predicting, Bangladesh economy is set to benefit hugely in the new Trump era.
"We are already witnessing quite a lot of interests from China based manufacturers seeking to diversify their risks and manufacturing bases," he said adding this trend will accelerate once the new Trump administration takes over in January 2025.
The BIDA chief said he has been following the regional expansion of Chinese manufacturers in the last decade and was fortunate to support them in his previous capacity as an investment banker.
"With the new US political landscape, the trend is likely to grow," he said pointing out that Bangladesh is keen to "welcome" these investors with tailored solutions.
