Chinese Company Set to Invest $10.73M in BEPZA Economic Zone

US investors have been pulling out of Bangladesh's stock market over the last three fiscal years, as seen by the US portfolio investment falling to $629.71 million at the end of FY23, down 21.20% from FY22. The total amount of foreign portfolio investments decreased by more than 20% year over year to $2.33 billion in FY23 from $4.5 billion in FY19.

Bangladesh faces a concerning decline in net foreign direct investment (FDI) from the United States, dropping by 56% to $289.17 million in FY23 amid increasing pressure on forex reserves and global economic challenges.

The 3rd Bangladesh Sustainability Excellence Awards, hosted by The Daily Star and CSR Window Bangladesh, recognized six companies and three young humanitarians for their outstanding sustainable and socially impactful initiatives.

Bangladesh's garment sector requires foreign direct investment (FDI), particularly for non-cotton and high-value-added products, according to the research director of the Centre for Policy Dialogue. The director highlighted the need for FDI to enhance the sustainability and competitiveness of the readymade garment (RMG) industry, emphasizing that Bangladesh excels in cotton clothing but lacks strength in non-cotton items.

Bangladesh's focus on renewable energy, especially solar and wind power, aligns with global efforts for climate change mitigation. The government aims to generate 30% of electricity from renewables by 2030 and 40% by 2041. Both government and private initiatives are progressing, with significant investments from countries like South Korea, China, Japan, Singapore, and India.

Chinese company United Spinning & Dyeing Ltd is set to invest $28.2 million to establish a dyed textile yarn manufacturing industry at Uttara Export Processing Zone in Nilphamari, Bangladesh.