Chinese business team expresses interest to invest in renewable energy
DHAKA, Dec 23, 2024 (BSS) – A high-level business delegation from China visited the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zones Authority (BEZA) to explore investment opportunities in Bangladesh’s growing renewable energy sector.
The meeting, held at the BIDA Conference Room, was chaired by Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of BIDA and BEZA on Sunday, said a press release today.
During the session, the Chinese delegation, comprising representatives from major renewable energy companies such as LONGi Green Energy Technology Co., Ltd. Tongwei co. ltd and Yunnan Show, presented their advanced technologies and successful international projects.
These companies expressed strong interest in investing in Bangladesh to support the country’s renewable energy goals, particularly in solar energy.
The delegation was welcomed by Ashik Chowdhury, who also highlighted Bangladesh’s enormous potential for foreign investments in renewable energy.
He emphasized the government’s commitment to creating a favorable investment climate, offering significant benefits such as tax holidays, duty-free imports, and a skilled workforce.
Ashik Chowdhury further assured the Chinese investors that BIDA and BEZA are fully prepared to provide comprehensive support, making Bangladesh a prime destination for investment.
Nahian Rahman Rochi, Head of Business Development at BIDA, elaborated on Bangladesh’s unique value proposition as an investment destination during his presentation, particularly for renewable energy.
He emphasized the surging local demand for renewable energy, the advantages of manufacturing in Bangladesh, and the potential for high returns on investment.
Nahian noted the several government initiatives are underway to promote the use of solar energy by industries, with a special focus on rooftop solar systems.
During his presentation, Nahian also highlighted the several reform initiatives taken by BIDA to improve the investment climate.
With Bangladesh’s ambitious goal to achieve 40% renewable energy by 2040, Nahian emphasised the importance of the local market, which is driven by the country’s 170 million population.
He urged investors to focus on this growing market and submit investment proposals, noting that BIDA, BEZA, and other government agencies will continue to provide support to ensure the success of such ventures.
Wang Feng from the Chinese delegation mentioned, “We are willing to fully understand Bangladesh’s market demand, investment policies, cooperation methods and other aspects in the field of power and energy, and are willing to discuss the fields, prospects and potential of future cooperation between Yunnan and Bangladesh, even China and Bangladesh.”
The meeting ended with a multi-stakeholder networking session, where representatives from local solar energy players, commercial banks, law firms, and international industries gathered to explore potential collaborations.
The discussions are expected to further strengthen economic ties between Bangladesh and China, particularly in the renewable energy sector.