China is getting closer to Bangladesh


bangladesh-china-mapIn its zest to achieve investment potential of around US$ 42 billion in the coming years, China is getting closer to Bangladesh. But all said and done, the country is likely to come up with some $25 billion for the projects it has committed. Talking about the same, an official said though China doesn’t want to emphasize the figure of investment volume, it wants to engage deeply with Bangladesh ensuring a win-win situation.

With the implementation of Belt and Road Initiative as well as BCIM (Bangladesh, China, India, Myanmar) Economic Corridor, many investors in China have expressed their interest to invest in Bangladesh in the fields of textile, garment and infrastructure projects, it is learnt. But no official announcement regarding investment figure during the visit of Chinese president Xi Jinping.

A government official however said that the actual amount that China will provide cannot be mentioned yet, but it will be somewhere between US$20 billion to US$25 billion. The Chinese side said their business people have encountered some difficulties in Bangladesh like land acquisition and natural gas supply which the host country is trying to address.

According to a document of the Economic Relations Division (ERD), Xi Jinping stressed on promoting greater joint contribution and sharing the interest with each other countries participating in the Silk Road Economic Belt and 21st Century Maritime Silk Road initiative.