China to invest more than $50b in next 10 yrs in Bangladesh

[Black_cats]

China to invest more than $50b in next 10 yrs in Bangladesh
HSBC hosts event on growing Sino-BD business ties
FE Desk | Published: March 13, 2019 22:52:19

China is expected to invest more than $50 billion in the next 10 to 15 years in Bangladesh's thrust sectors like energy and power, transport and communications etc.

Commerce Minister Tipu Munshi MP disclosed this in a Bangladesh-China Business Connections event, arranged by HSBC recently in the city, said a statement.

The Commerce Minister said: "China has been a trusted partner of Bangladesh for a long time now. Under the leadership of the Honorable Prime Minister, Bangladesh has on boarded into the highway of development and China has been a key partner in this journey. I thank HSBC for facilitating Chinese entrepreneurs and enhancing trade relations between China and Bangladesh."

HSBC organised the event this week, bringing successful Bangladeshi and Chinese businesses and institutions, together with economic, government, industry and financial services experts to share insights to help businesses advance their China-Bangladesh commercial strategy.

Keynote speeches explored the opportunity to invest in Bangladesh, as well as market reforms in China and the Belt and Road Initiative, which are accelerating business, trade and investment activity between the two countries.

Chinese Economic and Commercial Counsellor in Bangladesh, Li Guangjun also lauded HSBC for curating a platform and content that supports closer connectivity between companies in China and Bangladesh. He said: "I am confident that the bilateral economic cooperation between Bangladesh and China will be explored in a more extensive way in the future."

During his speech, Sr. Secretary, Power Division, Ministry of Power, Energy & Mineral Resources Dr. Ahmad Kaikaus, 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. To achieve the targeted 82GW of power generation by 2041, Bangladesh needs more than USD180Bn of investment which is around USD9Bn per year. Kaikus' speech also acknowledged HSBC's leadership role in Bangladesh as a long-term financial partner to finance key investment projects. Kaikus continued by thanking Chinese delegates and clients for their continued investment in Bangladesh.

Speaking at the event, Tim Evans, HSBC Regional Head of Commercial Banking for International

Countries in Asia-Pacific, said: "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% of global GDP, trade and capital flows."

Francois de Maricourt, Chief Executive Officer for HSBC Bangladesh, said: "Bangladesh and China are rapidly growing economies with growing two-way trade ties. We expect their commercial links to increase even further as China's connectivity with the rest of the world grows. As the leading international bank, HSBC is well positioned to help our clients increase their trade and investment activity from closer economic ties between the two countries."

HSBC Bangladesh Deputy CEO and Country Head of Wholesale Banking, Md Mahbub ur Rahman, reinforced the strength and depth of HSBC's capabilities in Bangladesh and highlighted how HSBC supports businesses on both ends of the China-Bangladesh corridor.

https://thefinancialexpress.com.bd/...n-50b-in-next-10-yrs-in-bangladesh-1552538684

 

[Black_cats]

China hailed for role in Bangladesh's development
Source: Xinhua| 2019-03-14 13:04:39|Editor: Liangyu
http://www.xinhuanet.com/english/2019-03/14/c_137894250.htm

by Naim-Ul-Karim

DHAKA, March 14 (Xinhua) -- Bangladesh has praised China's role in the country's overall development achieved so far.

Praises have poured in from the Bangladeshi Commerce Minister Tipu Munshi while speaking at an an event titled Bangladesh-China Business Connections here on Tuesday.

HSBC, one of the largest banking and financial services institutions in the world, organized the event, bringing together Bangladeshi and Chinese businesses and institutions along with economic, government, industry and financial services experts to share insights to help businesses advance their China-Bangladesh commercial strategy.

"China has been a trusted partner of Bangladesh for a long time now under the leadership of the prime minister. Bangladesh has on board of the highway of development and China has been a key partner on this journey," the minister was quoted as saying in a statement of HSBC received here Wednesday night.

According to the statement, keynote speeches explored the opportunity to invest in Bangladesh, as well as market reforms in China and the Belt and Road Initiative, which are accelerating business, trade and investment activity between the two countries.

Senior Secretary of Bangladesh's Power Division, Ministry of Power, Energy and Mineral Resources Ahmad Kaikaus 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."

To achieve the targeted 82GW of power generation by 2041, he said Bangladesh needs more than 180 billion U.S. dollars of investment.

Kaikus expressed gratitude to China for its investment in Bangladesh.

Chinese Economic and Commercial Counsellor in Bangladesh Li Guangjun expressed his confidence that the bilateral economic cooperation between Bangladesh and China will be explored in a more extensive way in the future.

He lauded HSBC for curating a platform and content that supports closer connectivity between companies in China and Bangladesh.

Tim Evans, HSBC regional head of Commercial Banking for International Countries in Asia-Pacific, said HSBC's extensive global network offers unparalleled access to high-growth markets like Bangladesh.

Francois de Maricourt, chief executive officer for HSBC Bangladesh, said Bangladesh and China are rapidly growing economies with growing two-way trade ties.

 

[bluesky]

China is expected to invest more than $50 billion in the next 10 to 15 years in Bangladesh's thrust sectors like energy and power, transport and communications etc.

Commerce Minister Tipu Munshi MP disclosed this in a Bangladesh-China Business Connections event, arranged by HSBC recently in the city, said a statement.

If it is the investments by Chinese companies, its ambassador/representative is supposed to disclose such a matter. But, it is Tipu Munshi a minister of the GoB who is disclosing such a matter on behalf of China. Very stupid thing!!

 

[Black_cats]

If it is the investments by Chinese companies, its ambassador/representative is supposed to disclose such a matter. But, it is Tipu Munshi a minister of the GoB who is disclosing such a matter on behalf of China. Very stupid thing!!

I believe you for Chinese president visited Bangladesh and in total 38 billion USD investment proposals were signed during that time. It won’t be surprising another 10-12 billion usd added extra on top of it over the next 10 year.

 

[bluesky]

I believe you for Chinese president visited Bangladesh and in total 38 billion USD investment proposals were signed during that time. It won’t be surprising another 10-12 billion usd added extra on top of it over the next 10 year.

A visiting President may promise to extend credit only for the public works in the host country. But, the FDI offers must come from the Owners of the companies, private or state-owned. It was about $22 billion that President Xi talked about to extend for public work projects after evaluating each of them.

I have not read any account of the private Chinese companies who have promised any FDI yet except the one about a $2 billion worth of steel mills project. However, no further talking about this project except that one-time news. But, how come a worthless BD minister talks of $50 billion FDI on behalf of the Chinese investors?

It seems all the rich countries of the world are promising to invest in BD. Yesterday, it was $35 billion by SA, today, it is another $50 billion by China and so on. I wonder, why these worthless ministers should keep on making big talks without getting any tangible results. This thing I have been hearing since Hasina Bibi came to power, almost every day of the year.

By the way, how about your airports in every villages and Mahallas of Golden Bangladesh that Hasina Bibi promised only last year. Bangladesh people should learn to cut their shirts according to the size of clothes. Since they do not know the ministers keep on falsifying the reality without shame.

 

[Black_cats]

A visiting President may promise to extend credit only for the public works in the host country. But, the FDI offers must come from the Owners of the companies, private or state-owned. It was about $22 billion that President Xi talked about to extend for public work projects after evaluating each of them.

I have not read any account of the private Chinese companies who have promised any FDI yet except the one about a $2 billion worth of steel mills project. However, no further talking about this project except that one-time news. But, how come a worthless BD minister talks of $50 billion FDI on behalf of the Chinese investors?

It seems all the rich countries of the world are promising to invest in BD. Yesterday, it was $35 billion by SA, today, it is another $50 billion by China and so on. I wonder, why these worthless ministers should keep on making big talks without getting any tangible results. This thing I have been hearing since Hasina Bibi came to power, almost every day of the year.

By the way, how about your airports in every villages and Mahallas of Golden Bangladesh that Hasina Bibi promised only last year. Bangladesh people should learn to cut their shirts according to the size of clothes. Since they do not know the ministers keep on falsifying the reality without shame.

You are wrong.

https://www.google.com/amp/s/amp.ft.com/content/1ab2ebe6-85c3-11e8-96dd-fa565ec55929

According to Gateway House, China has committed to $31bn worth of projects in Bangladesh, making it the second-biggest recipient of money in south Asia behind Pakistan. They include roads, railways, coal power plants and water treatment facilities.

Ahsan Mansur, the executive director of the Policy Research Institute of Bangladesh, calculates that once private sector investments are also factored in, the figure rises to $42bn.

Highest amount offered by a Chinese company to invest is 5 Billion USD not 2 Billion USD:

One company, Zhejiang Jindun Pressure Vessel Co Ltd, has offered to invest $5bn in one zone to build up heavy industry near Chittagong, including establishing a 2.6 gigawatt power plant.

(From same above link)

 

[bluesky]

According to Gateway House, China has committed to $31bn worth of projects in Bangladesh, making it the second-biggest recipient of money in south Asia behind Pakistan. They include roads, railways, coal power plants and water treatment facilities.

I have no clue where did you find this $31 billion, but, it remains correct that this is govt-to-govt credit for public works and physical infrastructures. FDI is certainly different.

Learn first about the true definitions many expressions and then come back to prove people wrong. You guys are living in a surreal world in the dreams. Do you think a $22 billion credit spread over many years will take Bd to a grand stage? At least 30 to 40 billion US dollar of investment is needed every year to upgrade the physical infrastructure and this money must be generated inside the country, which is not happening because there is almost no investment in the manufacturing of things where new wealth is created.