The New Nation - Internet Edition

UNB, Beijing

Chief Adviser Dr Fakhruddin Ahmed on Wednesday offered an open-arm invitation to the Chinese investors in various potential sectors of Bangladesh assuring them of basic infrastructure facilities and fair and equitable treatment.

The head of the caretaker government made the offer addressing a meeting with business leaders of China at Diaoyutai State Guest House at 10 am (local time).

"Investment for Chinese investors in Bangladesh is open in all areas. Apart from industries, Chinese investors are (also) welcome in power, communication, road transport and mass transit transport in Dhaka city," he said.

Referring to the Investment Promotion and Protection Agreement and the Agreement on Avoidance of Double Taxation signed between Bangladesh and China, Dr Fakhruddin said that under the agreements, the government accords fair and equitable treatment to investors from China who will enjoy full protection and security in Bangladesh.

Representatives from 14 companies and business houses attended the meeting. The business houses included Jiangsu Redbud Dyeing Technology Company Ltd., China National Complete Plant Import and Export Corporation, China Machinery Import and Export Corporation, China Texmatech Co. Ltd., Huawei Technologies Co. Ltd., Shijiazhuang Guangming Shoes Industry, Sino-coal International Engineering Designing and Research Institute, ZTE Corporation and Beiqi Foton Motor Co. Ltd.

Some of the business leaders who attended the meeting already have investment and businesses in Bangladesh.

After the opening statement of the Chief Adviser, a number of representatives of different business companies and houses wanted to know about potentiality, government policy and other business related matters.

Dr Fakhruddin said the government has recently decided to set up special economic zones and China will be welcome for setting up exclusive special economic zone for the country.

There are a number of export processing zones in Bangladesh where Chinese investors have already invested, he said and hoped increased investments from Chinese investors.

Mentioning Chinese investment and business companies in Bangladesh, the Chief Adviser said Chinese investment already helped coal mining in Barapukuria and also in power generation.

Bangladesh, he said, offers attractive fiscal facility, trainable workers, GSP export and easy repatriation of profit and earnings for foreign investors.

He added Bangladesh have resources including good quality coal and gas with both requiring exploration and extraction.

Dr Fakhruddin projected some aspects of investment potentiality including large domestic market, trainable and cheap labour force, government's investment-friendly attractive package for foreign investors. On coal policy, he said the Coal Policy is at final stage. Coal extraction and mining will be primarily for power generation, he informed replying to a participant and further said that foreign investors are welcome to this sector individually or in joint venture.

Replying to another query, the Chief Adviser said setting up a deep seaport in Chittagong is in the government's book. He, however, spoke of efficient management of Chittagong seaport, saying that Chittagong port still has the capacity to handle more ships.

He told the participants that gas would be further explored and extracted in the country.

Replying to a question, he said there is need of mass transit transport in Dhaka and the government is implementing a 15-year Strategic Transport Plan for an easy transport system in Dhaka city and adjacent districts. He welcomed investment in elevated expressway, underground train and larger buses.

Gas engine is also encouraged in Bangladesh as cars as well as buses are now run by CNG, the CA told a questioner.

Replying to Huawei, a big telecommunication company having business in Bangladesh, he said the government is giving high priority to telecommunication and IT sector. Telecommunication has big potentiality in Bangladesh, he added.

Foreign Adviser Dr Iftekhar Ahmed Chowdhury also spoke at the meeting, while Bangladesh Ambassador to China Munshi Faiz Ahmad gave the welcome address and moderated the function.

Chinese Ambassador to Bangladesh Zheng Qingdian, Foreign Secretary Touhid Hossian, and CA's Press Secretary Syed Fahim Munaim were also present.

The Chief Adviser is scheduled to return home late Thursday night.