Bangladesh Investment Development Authority (BIDA) executive chairman Chowdhury Ashik Mahmud Bin Harun has extended an invitation to China-based manufacturers to invest in Bangladesh, capitalising on opportunities arising from post- US election developments.

In an open letter to Chinese investors, Ashik emphasised that Bangladesh is now well-positioned to become a promising destination for manufacturers seeking to relocate or diversify their operations.

‘The post-election developments in the US signal big increases in tariffs and duties for China-based manufacturers,’ Ashik, a former senior banker with HSBC, wrote.

‘In this context, we extend an open invitation to our investor friends in China and are committed to supporting them in navigating the evolving landscape.’

‘We see potential in industries like garments, electronics, solar value chain and automotive. We are committed to tailor a favorable investment environment for the investors with attractive incentive programs and benefits,’ he said.

The BIDA chief who in the past month met at least 200 CEOs of multinational and local companies, said contrary to what some political experts were predicting, Bangladesh economy is set to benefit hugely in the new Trump presidency.

‘We are already witnessing quite a lot of interests from China based manufacturers seeking to diversify their risks and manufacturing bases,’ he said.

China has been a long-standing partner of Bangladesh and in 2022 became Bangladesh largest source of Foreign Direct Investment.

Ashik said this trend will accelerate once the new Trump administration takes over in January 2025.

He stated that he has closely monitored the regional expansion of Chinese manufacturers over the past decade and considers himself fortunate to have supported their growth during his tenure as an investment banker.

‘With the new US political landscape, the trend is likely to grow,’ he said.

Bangladesh is keen to “welcome” these investors with tailored solutions.

‘That’s my commitment as the chief marketing officer of Bangladesh,’ he wrote.