BIDA, BCCCI team up to attract Chinese investment

Bangladesh Investment Development Authority (BIDA) and Bangladesh China Chamber of Commerce and Industry (BCCCI) inked a Memorandum of Understanding (MoU) on Monday for working together to increase Chinese investment in Bangladesh.

BIDA Executive Chairman Md Sirazul Islam presided over the MoU signing ceremony held at BIDA conference room in Dhaka, according to a statement.

BIDA Executive Member Avijit Chowdhury and BCCCI Acting General Secretary Al Mamun Mrida inked the MoU on behalf of their respective sides.

Through the MoU, BIDA and BCCCI will work on the basis of cooperation for the expansion of Chinese investment in Bangladesh. In order to increase Chinese investment in the private sector, BCCCI and BIDA will jointly provide research and advice on relevant issues.

In his speech, Md Sirazul Islam said BIDA and BCCCI are already working together to facilitate Chinese investment in the private sector.

“Officially, China is one of the major partners in the development of Bangladesh. China has been working directly on many of our government projects. Although, we have a lot of government investment from China, Chinese investment in the private sector is much less than that. Chinese investors

are investing huge in the outside world and we need to take this opportunity,” he added.