Business Report :
Bangladesh Securities and Exchange Commission (BSEC) Chairman Khandaker Rashed Maqsood has called the Dhaka Stock Exchange (DSE) and Shenzhen Stock Exchange (SZSE) to take necessary initiatives for attracting Chinese investors to invest in Bangladesh’s stock market.
The BSEC Chairman made this request in a meeting with a delegation of DSE’s strategic partners, Shenzhen Stock Exchange on Tuesday.
BSEC Commissioner Md. Ali Akbar, Farzana Lalarukh, DSE Chairman Mominul Islam and other officials were present at the meeting held at the BSEC head office.
Khandaker Rashed Maqsood said in the meeting, “We consider the relationship between Dhaka Stock Exchange and Shenzhen Stock Exchange as friends and take this cooperation with special importance.
Mutual cooperation between Bangladesh and China can create many opportunities for progress.
“He suggested conducting a comprehensive gap analysis between the DSE and the Shenzhen Stock Exchange and called for joint initiatives in IT infrastructure, risk management, coordination with partners, and product development.
Wang Hai, Deputy Director General of the Shenzhen Stock Exchange, said that a new potential has emerged for Chinese investment in Bangladesh in the post-COVID period and expressed hope that the relationship in the stock markets of the two countries will be further strengthened.
The meeting discussed organizing a cross-border road show so that the Shenzhen Stock Exchange agrees to provide necessary support and cooperation.
DSE Chairman Mominul Islam also discussed long-term planning and cooperation between the governments and investment institutions of both countries in the meeting.
Emphasis was placed on taking various steps to develop the capital market in Bangladesh and attract Chinese investors through coordinated efforts among all parties.
However, the country’s stock market continues to decline. Despite various initiatives, stability is not returning to the market.
Investors are in extreme despair due to the continuous decline in the index, thousands of ordinary investors’ hard-earned money is being added to the loss account.
Investors complain that despite various announcements made by the government and regulatory agencies at various times, no effective results are seen in reality.
On the one hand, there is a deficiency in IT infrastructure, risk management, and market monitoring, and large capital institutions are also inactive – as a result, the liquidity crisis in the market is becoming more acute.
Many investors say that before inviting foreign investors, it is necessary to stabilize the local market and protect small investors.
Though the BSEC chairman talked about attracting Chinese investment in a meeting with Chinese stock exchange representatives, there was no indication of any effective immediate plan to restore the confidence of domestic investors in the country.
