30 Chinese Cos to invest $500m in BD

China and Bangladesh are moving to deepen economic and strategic ties, with around 30 Chinese companies expected to invest about US$500 million in Bangladesh.

The investment could create nearly 100,000 jobs for Bangladeshis, Chinese Ambassador Yao Wen said on Sunday. He made these remarks while paying a courtesy call on State Minister-1 for Foreign Affairs Humaiun Kobir at the Foreign Ministry.

Yao said the proposed China Economic and Industrial Zone (CEIZ), the planned modernisation of Mongla Port and possible Chinese cooperation in setting up a Mongla EPZ could attract the investments.

During the meeting Bangladesh and China discussed wide range of issues of mutual interest, including cooperation on the Teesta River Comprehensive Management and Restoration, the early launching of a Foreign Minister-level Strategic Dialogue, and the beginning of State Minister-level Diplomacy and Defense Dialogue on Sunday.

During the meeting, State Minister Kobir described that China as a trusted friend and valued strategic partner of Bangladesh and reaffirmed Bangladesh’s commitment to the One-China Principle. He expressed satisfaction with the renewed momentum in bilateral relations and the elevation of Bangladesh-China ties to a “China-Bangladesh Community with a Shared Future” following Prime Minister Tarique Rahman’s recent successful visit to China.