Chinese Ambassador to Bangladesh Yao Wen said on Tuesday (24 December) that his country is committed to continuing its utmost support for Bangladesh's development and deepening cooperation in infrastructure projects including railways.
"We are ready to actively consider all project proposals officially submitted by the Bangladeshi government after a sound feasibility and cost-benefit analysis," he said while speaking at the inaugural ceremony of the Padma Bridge Rail Link Project.
Noting that next year marks the 50th anniversary of diplomatic relations between Bangladesh and China, Ambassador Yao said China is also ready to provide technical support for feasibility studies.
Adviser for the Ministry of Railways, Ministry of Power, Energy and Mineral Resources, and Ministry of Road Transport and Bridges Muhammad Fouzul Kabir Khan, Secretary of the Ministry of Railways Fahim Islam, and Director General of Bangladesh Railway Afzal Hussain were, among others, present.
According to statistics released by Bangladesh, in the fiscal year 2024, he said, the total amount of foreign direct investment (FDI) to Bangladesh declined by 8.8%.
But the FDI from China experienced a remarkable threefold increase compared to the previous fiscal year, said Ambassador Yao, adding, "So far, more than 20 Chinese companies have set up their South Asian headquarters in Bangladesh."
Since the interim government took office, at least 11 Chinese enterprises have invested a total of $180 million in Bangladesh.
The Ambassador said they will continue to encourage Chinese enterprises to remain deeply engaged in Bangladesh, contributing to the nation's industrial upgrading and export diversification and further strengthening our comprehensive strategic cooperative partnership to benefit the Bangladeshi people.
"As a key cooperation project under the Belt and Road Initiative, it is also the "Road of Dreams" for the Bangladeshi people," he said, referring to the rail link project.
With today's entire operation of the project, the travel time between Dhaka and Jessore will be reduced from 10 hours to 2 hours, directly benefiting a population of 80 million and contributing an estimated 1.5 percent to Bangladesh's GDP growth, he said.
Despite challenges such as the COVID-19 pandemic, both sides overcame difficulties to ensure the project was completed safely, with high quality, and on schedule, said the envoy.
Project engineers shared that as the largest infrastructure project undertaken by China in Bangladesh, this project has extensively adopted advanced Chinese technologies and equipment, including ballastless tracks and automated sleeper production lines.
Villagers along the project route also expressed their gratitude, saying that Chinese enterprises are not only builders of projects but also doers of public welfare to local communities.
They helped construct access roads, build bridges, improve flood drainage systems, and donate flood relief, anti-epidemic control, and educational materials.
"The project provided thousands of jobs for local communities and trained thousands of skilled Bangladeshi technicians," said Ambassador Yao, adding that it has successfully driven economic and social development along the route, becoming a model of Bangladesh-China economic and trade cooperation.
"China stands ready to collaborate with Bangladesh to ensure this railway delivers even more significant economic and social benefits," said the Ambassador.
China pursues a policy of friendship and good neighbourliness for all the people of Bangladesh, and sincerely hopes that the nation could achieve unity, stability, and development, and firmly supports the interim government, he said.
Since the establishment of the interim government, Ambassador Yao said, China has demonstrated its support with concrete actions. "We dispatched a medical team to Bangladesh to assist those injured in the July-August movement."
Recently, a delegation led by the Vice Chairman of the China International Development Cooperation Agency visited Bangladesh, and had a meeting with Chief Advisor Prof Yunus and other advisors, delivering emergency relief and medical supplies.
In response to Prof Yunus' request for Chinese enterprises to establish solar panel manufacturing plants in Bangladesh, a delegation of Chinese photovoltaic enterprises from the People's Government of Yunnan Province of China is currently exploring investment opportunities here.
The envoy said Bangladesh has begun to enjoy zero tariff treatment for 100% of taxable items to China since December 1st this year. China has remained Bangladesh's largest trading partner for 15 consecutive years.
The Chinese enterprises hold a positive outlook on the development prospects of Bangladesh, he said.
