China is expected to invest more than $50 billion in the next 10 to 15 years in Bangladesh, Commerce Minister Tipu Munshi said on Wednesday in the city. He said the investment will come in Bangladesh’s thrust sectors, such as energy and power, transport and communications, said Munshi.
His remark came at an event on growing Bangladesh-China business ties organised by the HSBC in Dhaka on Monday.
Economists, policy makers, researchers, business leaders and experts shared insights about the business potential between the two countries, the bank said in a statement. “China has been a trusted partner of Bangladesh for a long time. Under the Prime Minister’s leadership Bangladesh has now boarded into the highway of development. China has been a key partner in this journey,” added Munshi.
He praised the HSBC for facilitating Chinese entrepreneurs and enhancing trade relations between China and Bangladesh. Li Guangjun, Chinese economic and commercial counsellor in Bangladesh, said, “I am confident that the bilateral economic cooperation between Bangladesh and China will be explored in a more extensive way in the future.”
Ahmad Kaikaus, senior secretary to power division, said, “Bangladesh is going to be a “Bright ?Delta” for the global economy. “Indeed, HSBC economists predict that by 2030, Bangladesh will be the 26th largest economy globally.”
He said Bangladesh needs more than $180 billion in investments, around $9 billion a year, to achieve the targeted 82GW of power by 2041. Tim Evans, HSBC regional head of commercial banking for international countries in Asia-Pacific, said, “The HSBC’s extensive global network offers unparalleled access to high-growth markets like Bangladesh.”
“By leveraging our international footprint, we connect businesses to a network covering more than 90 percent of global GDP, trade and capital flows,” he said.