Foreign investment does not pose a threat to national security, said Chowdhury Ashik Mahmud Bin Harun, executive chairman of the Bangladesh Investment Development Authority and the Bangladesh Economic Zone Authority.
Responding to a reporter鈥檚 question, he stated that in the past fifty years of global history, there had been no instance where a country鈥檚 sovereignty or national security was compromised due to a proper influx of foreign direct investment.
He was speaking at a press conference during the China-Bangladesh Investment and Trade Conference at the BIDA鈥檚 office in Dhaka.
Earlier on Sunday morning, Chief Adviser Muhammad Yunus inaugurated the session of the 鈥楥hina-Bangladesh Conference on Investment and Trade鈥�.
Chinese Commerce Minister Wang Wentao, Executive Chairman of Bangladesh Investment Development Authority Ashik Chowdhury, and Chinese Ambassador to Bangladesh Yao Wen also spoke at the inaugural session.
Ashik also noted that the global diplomatic culture had shifted significantly towards 鈥榚conomic diplomacy鈥� in recent years, where investment and bilateral economic relations play a crucial role in nation-to-nation relationships.
鈥楢ttracting FDI from diverse countries will strengthen our diplomatic ties without jeopardising national security,鈥� he added.
Responding to another question regarding a recent agreement with PowerChina, he stated that they had signed a memorandum of understanding to establish a Chinese Agrivoltaics Economic Zone.
This dual-use land project would combine solar energy production with聽 agriculture, enabling the simultaneous generation of food and energy.
鈥楾he full 3,000-acre project would take 5 to 7 years to complete, starting with a 1,000-acre pilot phase,鈥� he added.
He also stated that the investment process was a long-term one, beginning with delegations visiting Bangladesh, engaging with BIDA, BEZA, businesses, law firms, consultants, banks, and touring factories.
鈥榃e showcased why Bangladesh is an attractive investment destination, emphasising its growth trajectory and emerging opportunities,鈥� he said.
He also said that the close collaboration between BIDA and BEZA was a key attraction for investors.
Addressing the progress of the Chinese Special Economic Zone, he said that although progress had stalled, they had revived it, sending a positive signal to Chinese investors.
Subsequently, 30 Chinese firms have sent letters of intent to the Chinese embassy, expressing interest in acquiring land for manufacturing plants.
鈥榃e believe China would be a major source of FDI over the next five to 10 years,鈥� he added.
Highlighting the strong support from the Chinese delegation, including the Chinese commerce minister, for Bangladesh鈥檚 ongoing political reforms, he said that investment transcended politics and would remain a priority for future governments.
The Chinese delegation verbally proposed establishing another economic zone in Mongla, for which BIDA has requested an official proposal.
He pointed out that China鈥檚 readymade garment and textile sectors have reached their peak, while Bangladesh remains an emerging hub in this sector.
鈥楤angladesh has the potential to become a manufacturing centre for value-added RMG products for Chinese entrepreneurs interested in relocating their factories,鈥� he added.
He also said that the signing of the agreement for the China SEZ鈥檚 construction was nearing completion.
According to BIDA and BEZA, 250 business delegations from 143 Chinese firms, including six Fortune 500 companies, and four major Chinese chambers of commerce, participated in the conference.
On Sunday morning, chief adviser Professor Muhammad Yunus addressed the conference, calling upon Chinese companies to invest in Bangladesh and stating that robust Chinese investment could be a game changer for the Bangladeshi economy.
Chinese commerce minister Wang Wentao and Chinese ambassador to Bangladesh Yao Wen, among others, also spoke at the conference.
As of the financial year 2023-24, Bangladesh has a bilateral trade of about $17.35 billion with China, according to the Export Promotion Bureau and the Bangladesh Bank. In the financial year, Bangladesh exported goods worth $715.4 million to China and imported products worth $16.64 billion from China.
