Bangladesh Economic Zones Authority (BEZA) on Wednesday signed a Memorandum of Understanding (MoU) with the Bangladesh China Chamber of Commerce and Industry (BCCCI) in order to attract Chinese investment at the economic zones in Bangladesh, reports news agency BSS.

Under the MoU, both the entities would work to boost bilateral trade between Bangladesh and China and also to attract Chinese investment to Bangladesh.

The MoU was signed today at the BEZA office in the capital’s Agargaon area. General manager (investment development) of BEZA Md. Moniruzzaman and BCCCI general secretary Al Mamun Mridha signed the MoU on behalf of their respective sides.

BEZA executive chairman Shaikh Yusuf Harun and BCCCI senior-vice President Md. Sultan Uddin Iqbal were present at the signing ceremony.

Congratulating the BCCCI for signing the MoU, Harun said that they are working relentlessly to create an investment-friendly environment in Bangladesh side by side unveiled new door of possibilities for the investors in Bangladesh.

He said that land is being provided at the economic zones at competitive prices to ensure planned industrialisation.

“BEZA has been working to keep strong the supply structure, meeting the domestic demand and keeping intact the export growth trend through attracting both local and foreign investment,” he added.

The BEZA executive chairman said that Chinese Economic and Industrial Zone is being set up in Bangladesh on G to G basis while the Chinese investors are making significant investments in the public and private economic zones under BEZA.

He also urged the Chinese investors to invest in the country’s tourism parks set up by BEZA.

BCCCI general secretary Al Mamun Mridha said that this MoU would help facilitate attracting more Chinese investment to Bangladesh.

He also called upon BEZA to simplify further its various services alongside delivering those in a speedy manner.

Mamun said that a total of 450 Chinese investors are now currently at the BCCCI.

Under the MoU, both the organisations would hold policy dialogue to boost bilateral trade relations between the two countries.