Media Release

Chinese investors show strong interest in Bangladesh’s power sector

Nov 10, 2024

In a collaborative meeting held at the Bangladesh Investment Development Authority's (BIDA) headquarters, Chinese investors outlined significant plans for joint ventures in Bangladesh’s power and green technology sectors. The meeting, chaired by BIDA’s Executive Chairman, Chowdhury Ashiq Mahmud Bin Harun, brought together representatives from Bangladesh’s Nams Motors Limited and China’s Wellbe Communication Technology Limited and Beijing Hairun Haoshen Technology Limited to discuss investments in lithium battery and solar panel manufacturing, as well as satellite connectivity.

Wong Tik Benjamin, Chairman of Wellbe Communication Technology Limited and Beijing Hairun Haoshen Technology Limited, highlighted Bangladesh’s potential as a reliable market and strategic export hub. He noted that Bangladesh currently has a substantial number of battery-powered vehicles but lacks advanced battery technology. “Considering the rise in electric vehicles, we see a great opportunity to establish a high-quality lithium battery production facility, a solar panel manufacturing plant to address energy needs, and a state-of-the-art satellite communication network in Bangladesh,” Wong said.

Brigadier General Shafiquzzaman (Retd.), Managing Director of Nams Motors Limited, expressed similar enthusiasm, emphasising that the partnership aims not only for profitability but also to contribute to Bangladesh’s push for green technology and pollution reduction.

BIDA’s Executive Chairman, Chowdhury Ashik Mahmud Bin Harun, expressed gratitude to the Chinese delegation and outlined the benefits of investing in Bangladesh. He emphasised BIDA’s support for foreign investors, noting that BIDA has a dedicated country officer system to expedite services for foreign investment processes. “We are committed to providing all necessary support for investors and invite Chinese investors to capitalise on Bangladesh’s growing economy,” he added.

The meeting was attended by senior officials from BIDA, Nams Motors Limited, Wellbe Communication Technology Limited, and Beijing Hairun Haoshen Technology Limited, as well as members of the print and electronic media.