To investigate investment prospects in Bangladesh’s expanding renewable energy sector, a high-level business delegation from China paid visits to the Bangladesh Economic Zones Authority (BEZA) and the Bangladesh Investment Development Authority (BIDA).
According to a press statement today, Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of BIDA and BEZA, convened the meeting, which took place in the BIDA Conference Room on Sunday.
The Chinese delegation, which included representatives from significant renewable energy firms like Yunnan Show, Tongwei Co. Ltd., and LONGi Green Energy Technology Co., Ltd., showcased their cutting-edge technology and accomplished global projects during the session.
These companies expressed strong interest in investing in Bangladesh to support the country’s renewable energy goals, particularly in solar energy.
Ashik Chowdhury greeted the delegation and emphasized Bangladesh’s huge potential for foreign investments in renewable energy.
He underlined the government’s dedication to fostering an environment that is conducive to investment, providing substantial advantages including tax breaks, duty-free imports, and a trained labor force.Ashik Chowdhury also gave the Chinese businessmen the assurance that Bangladesh is a top investment location because BIDA and BEZA are ready to offer complete support.
During his presentation, Nahian Rahman Rochi, Head of Business Development at BIDA, went into detail on Bangladesh’s distinct value proposition as an investment destination, especially with regard to renewable energy.
He emphasized the surging local demand for renewable energy, the advantages of manufacturing in Bangladesh, and the potential for high returns on investment.
Nahian noted the several government initiatives are underway to promote the use of solar energy by industries, with a special focus on rooftop solar systems. During his presentation, Nahian also highlighted the several reform initiatives taken by BIDA to improve the investment climate.
The 170 million people who live in Bangladesh are the driving force behind the country’s ambitious objective of 40% renewable energy by 2040, and Nahian emphasized the significance of the local market.
Noting that BIDA, BEZA, and other government organizations will continue to offer assistance to guarantee the success of such endeavors, he urged investors to concentrate on this expanding industry and submit investment proposals.
The Chinese delegation’s Wang Feng stated, “We are willing to discuss the fields, prospects, and potential of future cooperation between Yunnan and Bangladesh, even China and Bangladesh, and we are willing to fully understand Bangladesh’s market demand, investment policies, cooperation methods, and other aspects in the field of power and energy.”
The meeting ended with a multi-stakeholder networking session, where representatives from local solar energy players, commercial banks, law firms, and international industries gathered to explore potential collaborations.
The discussions are expected to further strengthen economic ties between Bangladesh and China, particularly in the renewable energy sector.
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