Mongla EPZ Attracts $35M Investment from Chinese Recycler

Xingchen Textile Co Ltd, a Chinese company, has signed a $35.03 million investment deal with the Bangladesh Export Processing Zones Authority (Bepza) to establish a textile recycling factory in Mongla EPZ. 

The Asian Development Bank (ADB) is set to invest in Bangladesh’s agriculture and food technology sectors, focusing on R&D, skilled human resource development, climate resilience, and smart agriculture under a five-year project worth approximately Tk 23 billion.

Bangladesh's net foreign direct investment (FDI) fell by 8.8% in FY24, decreasing from $1.61 billion to $1.47 billion due to repatriation issues, economic volatility, and the impact of the upcoming elections. The FDI from the USA dropped significantly by $2.92 billion, largely due to the sale of Coca-Cola's factory.

The UAE is keen to invest in Bangladesh’s logistics, ports, aviation, and renewable energy sectors. UAE Ambassador Abdulla Ali Abdulla AlHmoudi expressed support for the interim government's pro-business policies during a meeting with Chief Adviser Prof Muhammad Yunus. He noted interest from DP World and Abu Dhabi Ports in Chittagong port and from Masdar in renewable energy projects. Prof Yunus thanked the UAE for releasing 57 Bangladeshi prisoners and for hosting one million Bangladeshi migrants.

Foreign direct investment (FDI) in Bangladesh has declined amid falling foreign reserves, dropping from $21.58 billion in December 2021 (with $46 billion in reserves) to $20.54 billion in December 2023 (with reserves at $21.86 billion). While reinvested earnings and intracompany loans showed positive trends, new capital inflows remained weak.

Chinese company Jidalai Company Limited is set to invest $5.85 million in a factory at Adamjee Export Processing Zone to produce 70 million zipper pullers annually. The investment will create 189 jobs for Bangladeshi nationals.