B Mirror Report 

Chief Adviser Muhammad Yunus stated today (1 June) that strong Chinese investment might revolutionize the Bangladeshi economy and urged Chinese businesses to invest in the country.
“The young people in Bangladesh are willing to take on that challenge,” he said, urging Chinese businessmen to establish Bangladesh as their home and production center.

The chief adviser made the call at the Bangladesh Investment Development Authority (BIDA) office in Agargaon while speaking at the China-Bangladesh Conference on Investment and Trade.The meeting was jointly hosted by the Chinese and Bangladeshi governments.

Reflecting on the enduring relationship between Dhaka and Beijing, he noted that a few months prior, during his trip to Beijing, he had asked Chinese President Xi Jinping to motivate Chinese firms to invest in Bangladesh, which aspires to become a manufacturing and economic center in the region.Yunus expressed his gratitude that President Xi Jinping acted on his request, promptly sending a high-level Chinese business delegation to Bangladesh.

He asserted that Chinese companies are leaders in global manufacturing and that Bangladesh seeks to partner with them, stating: “Your largest scale investment can be a game changer for our economy.”Yunus highlighted that millions of young people in Bangladesh are in urgent need of quality employment.

Regarding the measures Bangladesh has implemented to attract investment, he mentioned that the interim government has been committed to executing reforms, improving the investment climate, simplifying regulatory frameworks, and creating a favorable environment for business activities.The chief adviser stated that Bangladesh is actively working to draw in direct foreign investment, which will drive economic growth and generate job opportunities for the youth.

He highlighted that 50% of Bangladesh’s population is under the age of 26, referring to them as the remarkable driving force of the nation, marked by their creativity and commitment.

He mentioned that the Bangladesh Investment Summit took place in April, drawing companies from all over the world.During the summit, Yunus stated that a leading Chinese textile company announced a $100 million investment in Bangladesh’s spinning sector alone.

For many years, Bangladesh has been strategically positioned in the heart of South Asia, and the country’s vibrant workforce has made it an ideal investment destination, he remarked.

“However, for a decade, we have struggled to attract foreign direct investment. Numerous economic zones have been established, yet they remain unoccupied,” Yunus noted.

He pointed out that rampant corruption, poor governance, and oppressive dictatorship have deterred potential investors.The chief adviser remarked that the July Uprising, led by hundreds of thousands of youths, has put an end to those times, and they are dedicated to building a new Bangladesh.

“This is the opportunity we have right now in history. So, please join us in making history for this nation,” he added. Yunus encouraged Chinese investors to discover the vast opportunities Bangladesh presents, ranging from textiles and garments to pharmaceuticals, agro-processing, fisheries, jute, and information technology.Chinese Commerce Minister Wang Went and Chinese Ambassador to Bangladesh Yao Wen also addressed the conference, among others.

Approximately 250 investors and business representatives from 100 Chinese firms attended the conference.