The Executive Chairman of Bangladesh Investment Development Authority (BIDA) Chowdhury Ashiq Mahmud Bin Haroon urged China-based businessmen to invest in Bangladesh in the post-US election situation.
Sources in the Press Wing of the Chief Adviser gave this information on Sunday (November 24).
In an 'open letter', he said, Bangladesh is poised to become a potential destination for China-based businessmen interested in relocating or diversifying production facilities.
Ashiq Chowdhury, a former senior banker at Singaporean multinational The Hong Kong and Shanghai Banking Corporation (HSBC) also said, 'In the post-US election situation, there are indications that tariffs and tariff rates for China-based businessmen will increase significantly.'
'In this context, we call on Chinese investment friends. We are committed to supporting them in the changing circumstances.'
'We see potential in industries like garments, electronics, solar value chain and automotive. We are committed to creating a conducive environment for investment with attractive incentive programs and facilities for investors,' he said.
BIDA Executive Chairman Ashiq Chowdhury met with at least 200 chief executives of multinational and local companies last month. He hoped that the economy of Bangladesh would benefit significantly under the new administration of Donald Trump.
Ashiq Chowdhury said, 'We have already heard a lot of interest from China-based traders in diversifying their risk and production.'
China has been a long-standing partner of Bangladesh and in 2022 Bangladesh became the largest source of foreign direct investment (FDI). Ashiq expects this trend to increase after the new Trump administration takes office in January 2025.
Ashiq Chowdhury said, 'As an investment banker, I have been observing the regional expansion of Chinese businessmen for the past decade. I had the privilege of supporting them earlier. The new US political landscape is likely to increase the tendency of Chinese businessmen to expand regionally.'
He said that Bangladesh is interested in welcoming these investors with suitable promises.
“This is my promise as Chief Marketing Officer of Bangladesh,” he said.
