Mohammed Badrul Ahsan :
The foreign direct investment (FDI) in the country’s pharmaceutical industry may see a big boost as a group of Chinese investors have expressed their keen interest to invest in sector, sources said.
According to them, better business climate, lower production cost and demand of local medicines in the international markets lured the companies to invest in Bangladesh.
“The Chinese entrepreneurs see Bangladesh as a country for investment. They have expressed interest to invest in the pharmaceutical sector,” President of FBCCI Abdul Matlub Ahmad told The New Nation.
After a long study on a number of sectors of Bangladesh , the Chinese entrepreneurs have chosen the sector as potential.
Besides, the success of local pharmaceutical companies in the international market also lured them to invest in the sector.
“We can see the export earnings from the sector is increasing steadily for the last couple of years because of better quality and prices of our products. So, we can easily expect FDI to the sector. IF everything goes accordingly, the sector may eye a big amount of Chinese investment soon,” he added.
According the FBCCI president, many other investors from different countries also showing interest to invest in the sector.
However, he informed that the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the China Council for Promotion of International Trade (CCPIT) of Shaanxi sub-council signed a deal on November 8, 2016 for investment in the sector.
The Chinese entrepreneurs started showing interest following President Xi Jinping’s visit in Bangladesh in October last.
During his visit, he promised to elevate China-Bangladesh ties from comprehensive partnership of cooperation to a strategic one.
The two countries also announced that 2017 would be observed as the ‘Year of Exchange and Friendship’ that will see a series of diplomatic, cultural and educational visits.
During Mr Xi’s visit, Bangladesh and China signed 27 deals and memorandum of understanding (MoUs), totaling US $13.6 billion for financing projects on infrastructure, energy, information and communication.
Ahmad said both FBCCI and CCPIT stressed the need to maintain close relations for making joint efforts for further development of bilateral economic ties between the two countries.
He said the volume of trade between Bangladesh and China is over US $ 14 billion annually. Of the amount, only $ 27 million trade was done with the Shaanxi province, the birth place of Mr Xi Jinping.
Asked about the probable amount to be invested by the Chinese entrepreneurs, the president of the FBCCI said, “We (the FBCCI) will visit China early next year to finalise Chinese entrepreneurs’ investment plan in pharmaceuticals, information technology (IT), textiles, automobiles and ceramics sectors”.
He said if the investment plan is finalised, then there will be billions of dollars investment from Chinese entrepreneurs.
The foreign direct investment (FDI) in the country’s pharmaceutical industry may see a big boost as a group of Chinese investors have expressed their keen interest to invest in sector, sources said.
According to them, better business climate, lower production cost and demand of local medicines in the international markets lured the companies to invest in Bangladesh.
“The Chinese entrepreneurs see Bangladesh as a country for investment. They have expressed interest to invest in the pharmaceutical sector,” President of FBCCI Abdul Matlub Ahmad told The New Nation.
After a long study on a number of sectors of Bangladesh , the Chinese entrepreneurs have chosen the sector as potential.
Besides, the success of local pharmaceutical companies in the international market also lured them to invest in the sector.
“We can see the export earnings from the sector is increasing steadily for the last couple of years because of better quality and prices of our products. So, we can easily expect FDI to the sector. IF everything goes accordingly, the sector may eye a big amount of Chinese investment soon,” he added.
According the FBCCI president, many other investors from different countries also showing interest to invest in the sector.
However, he informed that the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the China Council for Promotion of International Trade (CCPIT) of Shaanxi sub-council signed a deal on November 8, 2016 for investment in the sector.
The Chinese entrepreneurs started showing interest following President Xi Jinping’s visit in Bangladesh in October last.
During his visit, he promised to elevate China-Bangladesh ties from comprehensive partnership of cooperation to a strategic one.
The two countries also announced that 2017 would be observed as the ‘Year of Exchange and Friendship’ that will see a series of diplomatic, cultural and educational visits.
During Mr Xi’s visit, Bangladesh and China signed 27 deals and memorandum of understanding (MoUs), totaling US $13.6 billion for financing projects on infrastructure, energy, information and communication.
Ahmad said both FBCCI and CCPIT stressed the need to maintain close relations for making joint efforts for further development of bilateral economic ties between the two countries.
He said the volume of trade between Bangladesh and China is over US $ 14 billion annually. Of the amount, only $ 27 million trade was done with the Shaanxi province, the birth place of Mr Xi Jinping.
Asked about the probable amount to be invested by the Chinese entrepreneurs, the president of the FBCCI said, “We (the FBCCI) will visit China early next year to finalise Chinese entrepreneurs’ investment plan in pharmaceuticals, information technology (IT), textiles, automobiles and ceramics sectors”.
He said if the investment plan is finalised, then there will be billions of dollars investment from Chinese entrepreneurs.
