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Nagad and Huawei Technologies have signed an agreement. In the presence of prime minister Sheikh Hasina, the agreement between Nagad Ltd and Huawei Technologies was signed at the Shangri-La Hotel in Beijing of China on Tuesday. On behalf of Nagad, its founder and CEO Tanvir A Mishuk signed the agreement. Pan Junfeng, president of Huawei South Asia Region and CEO of Huawei Bangladesh, signed the agreement on behalf of Huawei Technologies. The event was also attended by finance minister Abul Hassan Mahmood Ali, foreign minister Hasan Mahmud, PM鈥檚 private industry and investment adviser Salman F Rahman, state minister for posts, telecommunications, and information technology Zunaid Ahmed Palak and Nagad Digital Bank chairman Muhammad Farid Khan. 聽 | Press release

Bangladeshi and Chinese companies on Tuesday signed 16 memorandums of understanding to boost investment in Bangladesh, where Bangladesh will receive $490 million under four MoU, according to a press release.

The deals were signed at the Bangladesh-China Business Summit held at China World Summit Wing, Shangri-La Circle, Beijing in China.


Prime minister Sheikh Hasina addressed the event.

The Chinese investments will cover several sectors, including textiles, electric vehicles, solar power, fintech and technology.

The summit on trade, business, and investment opportunities was organised by the Bangladesh embassy in Beijing, the Bangladesh Investment Development Authority, the Bangladesh Securities and Exchange Commission and the China Council for the Promotion of International Trade Beijing at China World Summit Wing, Shangri-La Circle, Beijing.

One of the major agreement is a strategic partnership between Nagad and Huawei Technologies (Bangladesh) Ltd, focusing on the development of a next-generation digital financial platform, SMART Bangladesh with a $50-million investment.

Another major agreement involves Deshbondhu Group, Chemtex, and China Chemical CNCC, committing to a $400 million investment.

This investment will establish the largest PSF, PET bottle, and textile-grade factory on 33 acres in the Mongla Economic Zone.

Dex Bangladesh Tech Ltd and Huawei Technologies (Bangladesh) have teamed up for the 鈥楤angladesh Capital Market Digital Transformation Project鈥�, involving $20 million.

Intraco Refueling Station PLC and Shijiazhuang Enric Gas Equipment Co Ltd will work on a $20-million investment for CNG transportation by river and road.

Furthermore, China Road and Bridge Corporation and Ningbo Cixing Company Limited will collaborate on an investment framework agreement for the Chinese Economic and Industrial Zone in Bangladesh.

Other agreements include Billion10 Communications Ltd鈥檚 partnerships with several Chinese companies, including partnership with Ningbo Sun East Solar Co Ltd for establishing a solar park in Sylhet, with CHTC (HengYang) Intelligent EV Company LtD for manufacturing electric vehicles, with HeSheng (Hoshine) Silicon Industry for investing in renewable energy, and with Zhongke Guorui (Zhuhai) New Material Technology Co Ltd on waste lubricant oil recovery and refining.

EB Solution Ltd will collaborate with Hongji Intelligent Transport Co Ltd on the Dhaka city mobile project and with Ningbo Shering New Energy Technology Ltd to enhance smart cold chain logistic solutions in Bangladesh.

Nitol Niloy Group has also partnered with several Chinese companies for investments in sectors, such as with Zibo Jinhuateng Paper Machinery Co for investing in paper machinery, with Zhengzhou Dongfeng Mid-South Enterprise Company for investing in TBR tyre projects, with Shandong Sunite Machinery for investing in aerated autoclave concrete block production, with Daliam Huahan Rubber and Plastic Machinery for investing in rubber machinery, and with Zp Technology (Anhui) Co Ltd for investing in lithium batteries and electric vehicles.

Several hundred business leaders, investors and entrepreneurs from Bangladesh and China joined the summit.