BCCCI and BIDA to work together for enhancing Chinese investment

Sunday, June 26, 2022

The MoU signed between Bangladesh China Chamber of Commerce & Industry (BCCCI) and Bangladesh Investment Development Authority (BIDA) will remain as a historic occasion in that it was the first such Memorandum of Understanding BIDA has ever signed with any bilateral Chamber of Commerce & Industry, said BIDA Executive Chairman Md. Sirazul Islam.
A MoU was signed today between Bangladesh China Chamber of Commerce & Industry (BCCCI) and Bangladesh Investment Development Authority (BIDA) in a signing ceremony held at BIDA Conference Hall, chaired by Mr. Md. Sirajul Islam, the Honorable Chairman of BIDA. The MoU, aimed to enhance Chinese investment in Bangladesh, was signed between Mr. Avijit Chowdhury, the Executive Member of BIDA and Mr. Al Mamun Mridha, the Acting Secretary General of BCCCI on behalf of their respective organizations.

BCCCI and BIDA will act in close cooperation to enhance investment from China through holding joint consultation meetings, investment dialogues, conferences, round table conference and by holding exhibitions jointly. In his speech on the occasion of MOU signing, the BIDA Chairman said that BIDA and BCCCI have already been working together on issues relating to enhancement of private Chinese investment and that China being officially the largest development partner of Bangladesh has been investing in various official undertakings. In comparison to that private Chinese investment remains very insignificant. The Chinese investors are investing in many countries and we too should work to harness that opportunity. He also said that Bangladesh today is not the same as it was 10 years before. Today’s Bangladesh is of unlimited potentialities and this Brand Bangladesh entity should be focused all across the world as a potential investment destination. The Private Sector of the country constitute almost 79% of the economy of the country. He said, China marshals 18.6% of the total global trade and 15% of the total global investment portfolio. Only through BIDA US$ 770 million has come to Bangladesh , which, he hoped, would be significantly enhanced in the coming years.

Mr. Al Mamun Mridha, the Acting Secretary General of BCCCI in his speech noted that this day in particular is a day of great rejoices for BCCCI as from today we would work more close together as investment partners, which would focus on private Chinese investment in Bangladesh. He said, Chinese investment keeps on the increase and all the 700 members of BCCCI are working for attaining this objective. The meeting was attended by high officials of both BIDA and BCCCI, including the BCCCI Honorable President Mr Gazi Golam Mortuza, Sr. Vice President of BCCCI Brig. Gen. Shah Md. Sultan Uddin Iqbal, BP, ndu,Psc (retd) and ATM Azizul Akil.