International promoters are rallying hundreds of Chinese companies under one roof in Beijing to motivate them to choose Bangladesh as a highly potential investment destination.
UK-based financial-publication Euromoney will organise the daylong China-Bangladesh Investment Forum on August 21.
Local private commercial bank City Bank and global financial giant Standard Chartered will be the lead sponsors, sources said.
The Forum will focus on investment and bilateral trade opportunities between China and Bangladesh and the growing opportunities resulting from China's 'One Belt, One Road (OBOR)' initiative, authorities concerned said Monday at a press conference in Dhaka.  
It will also provide a platform for discussion on many important topics, such as infrastructure, FDI, financial and capital markets and the like. The participants will have a valuable chance to learn more about the business environment in Bangladesh and the potential areas for cooperation, they added.
Finance Minister AMA Muhith is expected to deliver the keynote address at the daylong forum, planned at a time when major developments are taking place under the flagship agenda of Chinese President Xi Jinping.   
This is the seventh such international investment forum co-hosted by City Bank and Standard Chartered. The two entities previously had organized similar investment forums in Singapore, Hong Kong and London.
Speaking on the occasion, the Chief Executive Officer of Standard Chartered Bangladesh said, "China is today the largest trading partner of Bangladesh and this relationship will continue to grow."
Mr Abrar added: "Chinese FDI has been steadily flowing into Bangladesh, with investments going into critical sectors like power, infrastructure and textiles."    
He further said, "With over 4700 categories of Bangladesh products enjoying duty-free access to China's massive consumer market, Bangladesh's export to China is also set to rise significantly in the coming years."
Focusing on China's Belt and Road initiative, the SCB CEO informed that in 2016 alone, Standard Chartered was involved in nearly 10 deals related to B&R in the South Asia region.
"We have footprints in 46 of the Belt & Road countries, particularly in the regions with the most dynamic activities, including South East Asia, South Asia and Africa," Anwar said.
"With increasing economic co-operation with China, Bangladesh can truly benefit from the opportunities arising out of the OBOR initiative," Managing Director and CEO of City Bank Sohail R. K. Hussain told the press.
"Bangladesh and China can cooperate in many areas under the OBOR initiative such as road communications, communication bandwidth, seaport, power and gas, and IT. There are also huge opportunities for attracting FDI in industries such as leather, RMG, food processing, pharmaceuticals and agriculture."   
Speaking on the occasion, Economic and Commercial Counselor of China in Bangladesh Li Guangjun said there are scopes for relocating some labour-intensive industries from China to Bangladesh.  
"However, the lack of skilled workforce as well as the impediments in terms of transportation, customs clearance and other issues need to be addressed to utilize such scopes," the diplomat said.
President of the Chinese Chamber of Commerce in Bangladesh Lin Weiqiang also spoke at the conference.
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Source: The Financial Express