China Proposes $9.21 Billion Investment and Regional Economic Corridor

Prime Minister Tarique Rahman secured investment proposals totaling $9.21 billion from eleven Chinese companies during a visit to Beijing. These proposals include a $4.5 billion project for the Dhaka-Chattogram Highway by Sichuan Road & Bridge Group and a $1.65 billion e-waste recycling project by Zhongxin Environmental Protection Group. Other initiatives target energy, logistics, and education sectors, including a $650 million investment by the China Civil Engineering Construction Corporation in the Mongla Port Economic Zone.

In a bilateral meeting with President Xi Jinping, the two leaders discussed regional connectivity and the formal proposal of the Bangladesh-Myanmar-China Economic Corridor (BMCC). This integrated road and rail network aims to link Bangladesh directly with mainland China via Myanmar, potentially reducing transport times to 24 hours. China also expressed interest in modernizing the seaports of Chattogram and Mongla to enhance trade and energy security, providing an alternative to the Strait of Malacca.

Commerce Minister Khandakar Abdul Muktadir identified these investments as a primary strategy to reduce the trade deficit and utilize duty-free market access. To support this growth, the Bangladeshi government plans to establish an 800-acre Chinese industrial park in Chattogram. The strategic nature of the BMCC has drawn attention from Western powers, including the United States, due to its implications for Indo-Pacific geopolitics.