BIDA urges Chinese investors to invest in Bangladesh

In an open letter to investors in China, BIDA executive chairman Chowdhury Ashik Mahmud Bin Harun wrote that Bangladesh will emerge as a potential destination for manufacturers planning to relocate or diversify their footprint.

"The post-election developments in the US signal big increases in tariffs and duties for China-based manufacturers," he 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," the letter said.

"We see potential in industries like garments, electronics, solar value chain and automotive. We are committed to tailoring a favourable investment environment for the investors with attractive incentive programmes and benefits," domestic media outlets reported quoting the letter.

The BIDA chief said Bangladesh's economy will hugely benefit in Donald Trump’s second term as president.

"We are already witnessing quite a lot of interest from China-based manufacturers seeking to diversify their risks and manufacturing bases," his letter said.

Fibre2Fashion News Desk (DS)