Close on heels of China offering tariff exemption for 97 per cent of Bangladeshi products effective from 1 July, Yabang Group of China is reportedly all set to invest around US $ 300 million to establish textile and chemical industries in Bangladesh, as per media reports.
It may be mentioned here that following the Chinese move to offer duty-free access to 97 per cent of Bangladeshi products, many experts opined that it would also lead to a spurt in Chinese investments in Bangladesh.
Confirming the move of the Chinese entity to invest in Bangladesh, Executive Chairman of Bangladesh Economic Zones Authority (BEZA), Paban Chowdhury, reportedly, said that BEZA has received an investment proposal from Yabang Investment to set up industrial units on around 100 acres at Bangabandhu Sheikh Mujib Shilpanagar (BSMSN).
The Bangabandhu Sheikh Mujib Shilpanagar is a flagship project of BEZA and is considered a sought-after destination for investment by overseas entities.
We are continuing our endeavour to attract and facilitate investment defying challenges like COVID-19 pandemic, reportedly, maintained the BEZA Executive Chairman speaking to the media.
