Bangladesh is intensifying efforts to attract greater industrial investment from India and China as part of a strategic drive to revitalise the nation’s economy, said Rashed Al Mahmud Titumir, Principal Adviser to the Prime Minister on Finance and Planning. His remarks came after bilateral discussions on Monday at the Ministry of Finance in Dhaka with India’s High Commissioner, Pranay Verma, and China’s Ambassador, Yao Wen.
Table of Contents
Revitalising the Economy
Titumir highlighted that previous administrations left the economy in a weakened state, and the current government is focused on injecting renewed dynamism.
“Bangladesh needs revitalisation in its economy. As outlined in the BNP manifesto, increasing investment is essential,” he stated.
He noted that heightened investment would spur industrial production, generate employment opportunities, boost government revenue, and enable greater funding for vital sectors such as healthcare, education, and social services.
“Investment drives production; production creates jobs, increases revenue, and provides resources for public services,” Titumir explained.
Review of Existing Projects
The discussions with Indian and Chinese officials largely centred on ongoing projects. Officials reviewed India-backed lines of credit, evaluating implementation status, current progress, and alignment with Bangladesh’s broader development agenda.
On China, Titumir referenced President Xi Jinping’s 2016 visit, when $20 billion in projects were agreed. So far, only around $8.2 billion worth of projects have been executed. The government is now assessing the status, potential, and future strategy of these projects to ensure efficient implementation and expansion.
Regional Cooperation and Energy Strategies
Titumir emphasised strengthening ties with neighbouring South Asian countries, including Bhutan and Nepal, especially in energy and power sectors. He cited Bangladesh’s “One Citizen, One Card” initiative, noting that India’s Aadhaar system offers valuable lessons for integrated identity and financial solutions.
“We face an energy crisis, and many past agreements were inadequate. Regional cooperation can help address these challenges,” he said.
Promoting Industrialisation
A key theme was transitioning from a loan-based approach to an investment-driven model, particularly in industrialisation and private sector engagement. Titumir proposed forming a working group consisting of the Bangladesh government, Chinese state-owned and private enterprises, and other stakeholders to coordinate industrial investment projects.
“While our trade with China is substantial, Bangladesh needs more industrialisation. We aim to shift from debt culture to investment culture,” he explained.
Key Points
| Aspect | Details |
|---|---|
| Objective | Increase industrial investment from India and China |
| Officials Met | India’s High Commissioner Pranay Verma; China’s Ambassador Yao Wen |
| Focus Areas | Existing projects, industrialisation, investment culture |
| Strategic Goals | Boost production, employment, revenue; strengthen regional cooperation |
| Ongoing Initiatives | “One Citizen, One Card”; review of lines of credit and Chinese projects |
| Future Plans | Establish working group with government and foreign investors; enhance industrial partnerships |
| Project Status | India: Lines of credit under review; China: $8.2B executed of $20B agreed |
Looking Forward
Titumir stressed that Bangladesh aims to strengthen economic partnerships, expand industrial capacity, and implement a sustainable development framework. Coordinated efforts with India, China, and regional neighbours are expected to attract further investment, modernise industry, and ensure long-term economic growth.
“Discussions with China today focused on boosting capital market investment and actionable initiatives to enhance industrial development,” he concluded.
This renewed focus on bilateral cooperation signals a strategic commitment to industrialisation, increased foreign investment, and regional economic integration.