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China No. 1 Foreign Investor in Bangladesh, New Official Figures Show

China’s footprint in Bangladesh’s economy has expanded massively since 2016 and Beijing is now the South Asian nation’s biggest foreign investor, official figures show, with most of the Chinese money invested in a power sector tainted by allegations of bureaucratic corruption.Beijing outpaced the United States as Bangladesh’s top investor in 2018, during which Dhaka recorded U.S. $3.6 billion in foreign direct investments (FDI), according to newly released official figures obtained by BenarNews.“The Chinese are now the largest foreign direct investors in Bangladesh,” Shams al-Mujahid, a director-general at the Bangladesh Investment Development Authority (BIDA), told BenarNews. BIDA is an agency under Prime Minister Sheikh Hasina’s office.......................

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Helpline 1090