Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun has extended an invitation to Chinese manufacturers to invest in Bangladesh, highlighting the country’s readiness to become a key destination for businesses looking to relocate or diversify their operations in the wake of post-election developments in the United States.
In a letter addressed to investors in China, Chowdhury, BIDA pointed out that the recent developments in the US political sphere are likely to result in significant increases in tariffs and duties for manufacturers based in China.
“The post-election developments in the US signal big increases in tariffs and duties for China-based manufacturers,” Chowdhury wrote.
“In this context, we extend an open invitation to our investor friends in China and are committed to supporting them in navigating the evolving landscape.”
He noted that Bangladesh is positioning itself to attract Chinese investments in several key sectors, including garments, electronics, the solar value chain, and automotive industries.
Chowdhury also stressed that the country’s commitment to creating a favourable investment environment would include a host of attractive incentive programmes and benefits for foreign investors.
“We see potential in industries like garments, electronics, solar value chain, and automotive. We are committed to tailoring a favourable investment environment for investors with attractive incentive programmes and benefits,” he said.
The BIDA executive chairman, who recently met over 200 CEOs from multinational and local companies, expressed confidence that, contrary to predictions from some political experts, Bangladesh’s economy is set to benefit significantly under the new Trump administration.
“We are already witnessing considerable interest from China-based manufacturers looking to diversify their risks and manufacturing bases,” Chowdhury added.
China has long been a major partner of Bangladesh, and in 2022, it became the country’s largest source of Foreign Direct Investment (FDI). Chowdhury is optimistic that this trend will only intensify once the new US administration, under President Donald Trump, takes office in January 2025.
Reflecting on his previous experience as an investment banker, Chowdhury remarked that he had closely followed the regional expansion of Chinese manufacturers over the past decade and was fortunate to have supported them in his previous role.
“With the new US political landscape, the trend is likely to grow,” he said, noting that Bangladesh is eager to offer tailored solutions to prospective investors.
“That's my commitment as the chief marketing officer of Bangladesh,” he concluded, reiterating his dedication to welcoming Chinese investors and fostering mutually beneficial business partnerships.
