Chinese business delegation expresses strong interest in investing in Bangladesh's renewable energy sector

A high-level business delegation from China has expressed strong interest in investing in Bangladesh to support the country's renewable energy goals, particularly in solar energy.

They expressed their interest during visits to the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zones Authority (BEZA) to explore investment opportunities in the country's growing renewable energy sector.

During a meeting with Chowdhury Ashik Mahmud Bin Harun, executive chairman of BIDA and BEZA, at the BIDA Conference Room yesterday (22 December), the Chinese delegation, comprising representatives from major renewable energy companies such as LONGi Green Energy Technology Co Ltd, Tongwei Co Ltd and Yunnan Show, presented their advanced technologies and successful international projects.

The delegation was welcomed by Ashik Chowdhury, who also highlighted Bangladesh's enormous potential for foreign investments in renewable energy. He emphasised the government's commitment to creating a favorable investment climate, offering significant benefits such as tax holidays, duty-free imports, and a skilled workforce.

Ashik Chowdhury further assured the Chinese investors that BIDA and BEZA are fully prepared to provide comprehensive support, making Bangladesh a prime destination for investment.

Nahian Rahman Rochi, head of Business Development at BIDA, elaborated on Bangladesh's unique value proposition as an investment destination during his presentation, particularly for renewable energy. He emphasised the surging local demand for renewable energy, the advantages of manufacturing in Bangladesh, and the potential for high returns on investment.

Nahian noted that 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. With Bangladesh's ambitious goal to achieve 40% renewable energy by 2040, Nahian emphasised the importance of the local market, which is driven by the country's 170 million population.

He urged investors to focus on this growing market and submit investment proposals, noting that BIDA, BEZA, and other government agencies will continue to provide support to ensure the success of such ventures.

Wang Feng from the Chinese delegation said, "We are willing to fully understand Bangladesh's market demand, investment policies, cooperation methods and other aspects in the field of power and energy, and are willing to discuss the fields, prospects and potential of future cooperation between Yunnan and Bangladesh, even China and Bangladesh."

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.