Commerce Minister Tipu Munshi said China is expected to invest more than $50 billion in the next 10 to 15 years in Bangladesh.
The investment will come in Bangladesh's thrust sectors, such as energy and power, transport and communications, said Munshi.
His remark came at an event on growing Bangladesh-China business ties organised by the HSBC in Dhaka on Monday.
Businesses and institutions of Bangladesh and China and economic, government, industry and financial services experts shared insights about the business potential between the two countries, the bank said in a statement yesterday.
“China has been a trusted partner of Bangladesh for a long time. Under the leadership of the honorable prime minister, Bangladesh has now boarded into the highway of development and China has been a key partner in this journey,” added Munshi.
He thanked the HSBC for facilitating Chinese entrepreneurs and enhancing trade relations between China and Bangladesh.
Li Guangjun, Chinese economic and commercial counsellor in Bangladesh, said, “I am confident that the bilateral economic cooperation between Bangladesh and China will be explored in a more extensive way in the future.”
Ahmad Kaikaus, senior secretary to power division, said, “Bangladesh is going to be a “Bright Delta” for the global economy.
“Indeed, HSBC economists predict that by 2030, Bangladesh will be the 26th largest economy globally.”
He said Bangladesh needs more than $180 billion in investments, around $9 billion a year, to achieve the targeted 82GW of power by 2041.
Tim Evans, HSBC regional head of commercial banking for international countries in Asia-Pacific, said, “The HSBC's extensive global network offers unparalleled access to high-growth markets like Bangladesh.”
“By leveraging our international footprint, we connect businesses to a network covering more than 90 percent of global GDP, trade and capital flows,” he said.
“Bangladesh and China are rapidly growing economies with rising two-way trade ties. We expect their commercial links to increase even further as China's connectivity with the rest of the world grows,” said Francois de Maricourt, chief executive officer for HSBC Bangladesh.
HSBC is well positioned to help clients increase their trade and investment activity from closer economic ties between the two countries, Maricourt added.
Md Mahbub ur Rahman, HSBC Bangladesh's deputy CEO and country head of wholesale banking, reinforced the strength and depth of the HSBC's capabilities in Bangladesh and highlighted how the HSBC supports businesses on both ends of the China-Bangladesh corridor.