China Bangladesh Photo: VCG
China has been the largest source of foreign investment in Bangladesh during recent years, with investments in sectors including energy, transportation, and digital industries creating a large number of jobs and generating tax revenue, injecting momentum into the South Asian country’s economic growth, Han Kun, president of the Chinese Enterprises Association in Bangladesh, told the Global Times on Wednesday.
Han highlighted the close economic and trade cooperation between China and Bangladesh, noting that this year marks the 50th anniversary of diplomatic relations between the two nations.
Since October 2016, Chinese companies have invested over $11 billion in Bangladesh, mainly in sectors like electricity, roads and bridges, water supply, and textiles, Han said.
Through these investments, Chinese companies created substantial employment opportunities and tax revenue for Bangladesh. According to relevant statistics, Chinese companies have directly and indirectly generated about 550,000 jobs in Bangladesh. Simultaneously, they have promoted technological innovation in relevant local industries, he said.
Chinese investment has played a transformative role in Bangladesh’s infrastructure and industrial development, Al Mamun Mridha, former secretary general of the Bangladesh China Chamber of Commerce and Industry, told the Global Times on Monday.
The remarks came after Chinese Commerce Minister Wang Wentao’s visit to Bangladesh. During the visit, Wang and Salehuddin Ahmed, Bangladesh’s finance adviser, co-chaired the 15th meeting of the Bangladesh-China Joint Economic and Trade Commission, during which they exchanged in-depth views on issues such as deepening trade, investment, industrial and supply chain cooperation, and safeguarding multilateralism, according to the Chinese Ministry of Commerce (MOFCOM).
The visit marks a highly significant moment in the deepening economic partnership between our two countries, and reflects China’s continued commitment to strengthening political and economic relations with Bangladesh, Mridha said.
China has been Bangladesh’s largest trading partner for 15 consecutive years, as well as its top source of imports and the second-largest source of foreign investment, the Xinhua News Agency reported.
Driven by US tariffs and local labor market competitiveness, Chinese investment in Bangladesh’s economic zone continues to grow. So far, 24 Chinese companies have signed the agreement, with a total investment commitment of $615 million, according to a post on the MOFCOM’s website on April 3, citing Bangladeshi official data.
As the first South Asian country to sign a Belt and Road cooperation document with China, Bangladesh has achieved fruitful outcomes with China under the BRI framework. “While steadily boosting cooperation in traditional sectors, there are extensive opportunities for the two countries to expand collaboration in sectors including textiles, agro-processing, fisheries, food, and information technology,” Han said.
China has continuously stepped up trade and investment cooperation with BRI partner countries in recent years. In 2024, Chinese enterprises’ non-financial direct investment in partner countries of the BRI reached 239.93 billion yuan ($33.3 billion), a year-on-year increase of 6.5 percent, data from the MOFCOM showed.