Dhaka, Apr 09 (V7N)– Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun announced today that a $150 million investment agreement has been signed with a Chinese textile company. The announcement came during a press conference held at a city hotel at the conclusion of the third day of the Bangladesh Investment Summit 2025.  

"An agreement has been signed with a Chinese textile company to invest $150 million in Bangladesh. This will create jobs for about 15,000 people. The Chinese investors expressed their keen interest to invest in Bangladesh. Therefore, 200 investors will soon come to Bangladesh to encourage investment here," Chairman Chowdhury Ashik Mahmud Bin Harun told reporters.  

The BIDA Executive Chairman emphasized the positive momentum generated by the investment summit, noting that it had successfully connected foreign investors with key political figures in Bangladesh.

"A connection has been made between foreign investors and politicians at this investment summit," he stated.

Chowdhury Ashik highlighted the sectors that garnered the most interest from investors during the summit, including textile, garment, renewable energy, and light engineering.

"Ashik said that most of the investors at the summit expressed their keen interest in investing in the textile, garment, renewable energy and light engineering sectors," he noted.  

Providing details on some of the significant engagements during the summit, the BIDA Chairman mentioned meetings held between investors and the Chief Adviser, as well as discussions with representatives from major international companies such as Zara and Lafarge Cement, and German delegates. He also highlighted a meeting with the CEO of DP World.

"Highlighting some significant activities of the summit, he said some investors met the Chief Adviser at the latter's office. Meetings were held with Zara, Lafarge Cement and German representatives, he said, adding that a meeting was also held with the CEO of DP World," Chowdhury Ashik elaborated.  

A significant development discussed was a proposal from the CEO of DP World to establish a free trade zone in Bangladesh with the aim of expanding the country's trade and commerce.  

"The CEO of DP World has proposed to set up a free trade zone in Bangladesh to expand trade and commerce, he said," the BIDA Chairman announced.  

While expressing enthusiasm for the proposal, Chowdhury Ashik also underscored the need for Bangladesh to gain experience in managing such zones. To this end, he stated that a delegation from Bangladesh would soon visit DP World's facilities to learn best practices.

"'We need to gain experience before setting up a free trade zone. For this, a delegation will be sent to Bangladesh soon,' Ashik added."

In a parallel effort to attract more Foreign Direct Investment (FDI), BIDA also signed an agreement with the International Labour Organization (ILO) on Wednesday. This agreement is aimed at improving the living standards of workers in Bangladesh, a factor increasingly considered by international investors.  

"Besides, BIDA signed an agreement with the International Labour Organization (ILO) on Wednesday to improve the living standards of workers to attract Foreign Direct Investment (FDI)," the BIDA press release confirmed.  

The announcements from the Bangladesh Investment Summit indicate a positive outlook for foreign investment in the country, with significant interest in key sectors and potential future developments like a free trade zone.

The focus on improving labor standards also signals a commitment to creating a more attractive environment for international businesses.  

END/MSS/RH/