China keen to invest in industrial sector

China is keen to invest a huge sum of money in Bangladesh for the development of its industrial sector to make it more competitive, Chinese Ambassador to Bangladesh Ma Mingqiang said yesterday.

China will relocate factories to Bangladesh and import products manufactured in those factories, the envoy added while holding a meeting with Industries Minister Amir Hossain Amu at the Ministry of Industries.

There was a scope to manufacture many products including shirts, jackets, saris, ties, socks and shoes from the jute sector, said Ma Mingqiang, adding that Chinese investors wanted to invest in this sector.

The Chinese ambassador assured that his country would provide all-out assistance to Bangladesh to have a strong base in the industrial sector.

During the meeting, Amu said China could invest in Bangladesh to modernise its sugar and newspaper mills, apart from the jute sector and Bangladesh was ready to allocate lands as per demand in this regard.

The minister also said China could invest in heavy industries sector in economic zones apart from investing in light engineering sector.

The ambassador invited the minister to attend the 4th China- South Asia exhibition and 24th China Kunming Import-Export

Fair to be held in Kunming of China on June 12-17.