China to invest more in mega projects

China will invest in more in different mega projects for the economic development of Bangladesh. 

“We are in discussion with several development agencies of Bangladesh. Now, we have planned for more. I’m quite confident that you will see more projects in Bangladesh,” Chinese Ambassador to Bangladesh Yao Wen told reporters after paying a courtesy call on Planning Minister MA Mannan on Tuesday.

“These projects will help future development, especially the economic development of Bangladesh,” he added.

The envoy said a number of China-funded mega-projects including the Bangabandhu Tunnel in Chattogram will be commenced this year.

Asked about the sectors where China wants to invest more, the envoy said they will invest in sectors where Bangladesh needs foreign investment. “China is looking for investing more in Bangladesh, may it be ICT, food processing, agriculture industry or renewable energy. Bangladesh needs more investment in these sectors,” he added.

About a free trade agreement between China-Bangladesh, Yao Wen said, “We are discussing the free trade agreement with Bangladesh. We will reach some level of the issue very soon. We are ready for the agreement. Hopefully, you will see more development on the free trade agreement sometimes this year,” he said.

He also said China will invest more as Bangladesh is going to organise the ‘Bangladesh Business Summit 2023’.

“We are happy to learn that Bangladesh scores 7.10 GDP growth last year. It is miracle that such GDP growth is the highest in Asia which is attributed to the strong leadership of the prime minister amid the Covid-19 pandemic and Russia-Ukraine conflict,” he added.  

About the Teesta River Project, Planning Minister MA Mannan said there is no delay or slow of the project. “We are yet to get the latest information on the project.”

The minister also said China-Bangladesh ties will reach a new height as Bangladesh have sought more assistance from China technological and business assistance.