Home ›› National


Bangladesh seeks enhanced Chinese investment

UNB . Dhaka
04 Mar 2024 16:49:08 | Update: 04 Mar 2024 16:49:08
Bangladesh seeks enhanced Chinese investment
— Courtesy Photo

Bangladesh has expressed a keen interest in expanding China's involvement in the power and energy sector.

State Minister for Power, Energy and Mineral Resources, Nasrul Hamid, conveyed this strategic vision during a meeting with Yao Wen, the Chinese Ambassador to Bangladesh, emphasising the need for a substantial $30 billion investment over the next five years.

The meeting, held at the state minister's office on Monday, covered a wide array of mutual interests, laying the groundwork for deeper cooperation between the two nations.

"We are looking forward to China playing a more substantial role. Bangladesh's power and energy sector needs $30 billion in investment over the next five years," stated Hamid.

He welcomed Ambassador Yao, highlighting China's long-standing friendship. "Chinese companies are making significant contributions to the expansion of the power and energy sector," the state minister said.

He also offered to form a special team to explore the potential fields of investment. "A specialised team can be formed to increase investment in the sector," he said.

Responding to the warm reception and the call for increased investment, Ambassador Yao reiterated China's commitment to strengthening bilateral ties. China's cooperation with Bangladesh is growing, Yao remarked.

It is essential for both nations to come together to strengthen the area of cooperation, he added.

The Chinese envoy hoped that Bangladesh will be more prosperous, stronger and a developed nation in the next five years.

They also discussed various issues including Chinese funded projects, setting up lithium battery factory, semiconductor factory, electric vehicles, battery storage system, smart meter, solar and wind power project, electricity from waste, and gas extraction.