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China topmost FDI source for Bangladesh in FY22

20 Dec '22
1 min read
Pic: humphery / Shutterstock
Pic: humphery / Shutterstock

China is now the topmost foreign direct investment (FDI) source for Bangladesh, with a gross flow of $940 million in fiscal 2021-22. The country has also ranked top among foreign investors, with 104 investors at eight export processing zones (EPZs), according to Song Yang, economic and commercial counsellor of the Chinese embassy in Bangladesh.

Song was addressing the 'Forum on China-Bangladesh Human Resources Development Cooperation and Reunion of Participants of Chinese Government Training Programmes' hosted by the embassy in Dhaka.

"China has been the largest trading partner of Bangladesh for the past 12 consecutive years," he was quoted as saying by Bangladeshi media reports.

The trade volume between the two countries increased by 58 per cent last year showing strong resilience of bilateral trade during the COVID-19 pandemic.

Chinese companies in Bangladesh’s EPZs have generated employment for 129,000 people, while companies outside the EPZ and Chinese building contractors continue to hire more and more local workers.

Fibre2Fashion News Desk (DS)

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