Bangladesh is an attractive destination for Chinese investors: Envoy

Chinese Ambassador to Bangladesh Li Jiming has said the rapidly developing economy of Bangladesh is an attractive investment destination for Chinese investors.  He said the qualified Chinese enterprises with good corporate governance also will find their interests in the Dhaka Stock Exchange (DSE) and bring returns to Bangladeshi investors. Launching of this new China-Bangladesh joint venture creates a capital management platform dedicated to providing merchant banking services to Chinese and other foreign investors in Bangladesh.

Source: https://www.tbsnews.net/bangladesh/bangladesh-attractive-destination-chinese-investors-envoy-374614

Kuwait-BD joint venture to invest $10.39m in Mirsharai EZ

The Bangladesh Export Processing Zones Authority (Bepza) signed a land lease deal with the company at its complex in the capital. The agreement with KB Petrochemicals comes on the heels of deals with four other companies that ensured an investment of $50 million and employment opportunities for 23,453 Bangladeshi nationals.KB Petrochemicals hopes to create employment for 129 people and produce 20,000 tonnes of finished lubricants annually. Prime Minister Sheikh Hasina unveiled the foundation stone of Bepza Economic Zone established on 1,138.55 acres of land at Bangabandhu Sheikh Mujib Shilpa Nagar in Mirsharai, Chattogram on 24 January 2018. So far, 643 applications for plot allotment have already been submitted for investment. Bepza has allotted 154 plots provisionally against 19 companies, of which 31 plots have been allotted to six industries.

Source: https://www.tbsnews.net/economy/kuwait-bd-joint-venture-invest-1039-million-bepza-ez-374320

Govt borrows $300 million from AIIB to refinance CMSMEs

The government is borrowing $300 million from the Asian Infrastructure Investment Bank (AIIB) to provide working capital loans to the companies of cottage, micro, small and medium enterprise (CMSMEs) sector. Meanwhile, the Ministry of Finance and AIIB have signed an agreement to implement the loan project through a third party on-lending basis. The government has taken up a project titled “Covid-19 Emergency and Crisis Response Facility” to implement the loan project within FY2023-24.Bangladesh Bank has already started its activities for the current financial year. Entrepreneurs in the CMSME sector will get this working capital for a period of one year with 4% interest and 1% service charge.

Source: https://www.tbsnews.net/economy/govt-borrows-300-million-aiib-refinance-cmsmes-374446