China to invest $2 billion in Bangladesh construction materials sector

Report on bdnews24.com, Apr 26, 2017
The China Building Materials Federation has presented a plan to Bangladesh Investment Development Board (BIDA) offering $2 billion investment in the sector.
BIDA says a 12-strong delegation met its Executive Chairman Kazi M Aminul Islam on Tuesday and expressed their interest.
The chairman said they would get ‘one stop service’ in Dhaka.
The Chinese side gave a proposal on ‘Cooperation Proposal for China-Bangladesh Building Material Upgrade Project and the Development of Industrial Park’ for the investment in construction materials such as bricks, tiles, cement, ceramics and mosaic.
Both sides also agreed to sign a MoU for an institutional framework of the proposal.
BIDA is working to woo investors through a series of reforms. It aims at improving Bangladesh ranking in the World Bank’s ease of doing business index to below 1OO from the current 176 in the next five years.http://bdnews24.com/business/2017/04/25/china-to-invest-2-billion-in-bangladesh-construction-materials-sector