China reiterates its commitment to supporting Bangladesh's development

Chinese Ambassador to Bangladesh, Yao Wen, reaffirmed China's unwavering commitment to supporting Bangladesh’s development and enhancing collaboration in infrastructure projects, particularly in railways. Speaking at the inaugural ceremony of the Padma Bridge Rail Link Project on Tuesday, he stated, "We are prepared to actively assess all project proposals officially submitted by the Bangladeshi government after a thorough feasibility and cost-benefit analysis."

Ambassador Yao highlighted that 2024 marks the 50th anniversary of diplomatic relations between Bangladesh and China, emphasizing China’s readiness to provide technical support for feasibility studies. 

The event was attended by Muhammad Fouzul Kabir Khan, Adviser for the Ministries of Railways, Power, Energy and Mineral Resources, and Road Transport and Bridges, as well as Railways Secretary Fahim Islam and Bangladesh Railway Director General Afzal Hussain, among others.

Reflecting on foreign direct investment (FDI) statistics released by Bangladesh, Ambassador Yao noted an 8.8% decline in total FDI for the fiscal year 2024. However, FDI from China saw an extraordinary threefold increase compared to the previous fiscal year. He mentioned that over 20 Chinese companies have established their South Asian headquarters in Bangladesh, and since the interim government took office, at least 11 Chinese enterprises have invested a total of $180 million in the country.

The ambassador pledged to continue encouraging Chinese enterprises to engage deeply in Bangladesh, contributing to industrial upgrades, export diversification, and strengthening the comprehensive strategic cooperative partnership for the benefit of the Bangladeshi people.

Describing the rail link project as a key collaboration under the Belt and Road Initiative, Ambassador Yao called it the "Road of Dreams" for the Bangladeshi people. The project, which significantly reduces travel time between Dhaka and Jessore from 10 hours to 2 hours, is expected to benefit 80 million people and boost Bangladesh’s GDP growth by an estimated 1.5%.

Despite challenges like the Covid-19 pandemic, both sides worked together to complete the project safely, on schedule, and with high quality. Project engineers noted the extensive use of advanced Chinese technologies and equipment, such as ballastless tracks and automated sleeper production lines. Local villagers expressed gratitude for the Chinese enterprises' contributions to public welfare, including building access roads, bridges, and flood drainage systems, as well as providing flood relief and educational materials.

The project created thousands of jobs and trained skilled Bangladeshi technicians, driving economic and social development along the railway route. Ambassador Yao hailed it as a model of Bangladesh-China economic and trade cooperation and expressed China’s readiness to collaborate further to maximize the railway’s benefits.

The ambassador underscored China's friendship and good-neighborly policy toward Bangladesh, wishing for the country’s unity, stability, and development. He also affirmed China’s firm support for the interim government. Since its establishment, China has demonstrated this support through actions like dispatching a medical team to assist those injured in the July-August movement and providing emergency relief and medical supplies during a delegation visit led by the Vice Chairman of the China International Development Cooperation Agency.

In response to Chief Adviser Prof. Yunus’ request, a delegation of Chinese photovoltaic enterprises from Yunnan Province is exploring investment opportunities in Bangladesh to establish solar panel manufacturing plants. Ambassador Yao noted that Bangladesh now enjoys zero tariff treatment for 100% of taxable items to China as of December 1, further solidifying China’s position as Bangladesh’s largest trading partner for 15 consecutive years.

He concluded by emphasizing the positive outlook Chinese enterprises hold for Bangladesh’s development prospects.