BD-China to work jointly for booming steel sector

Staff Reporter :
Businesses from Bangladesh and China on Saturday declared their joint efforts to advance iron and steel sector. The business leaders expressed their optimisms of creating employment of about 50 lakh people in the sector in Bangladesh.
The business leaders requested Bangladesh government to prepare supporting regulations in this regard for boosting the investment in the sector.
The remarks came from the firstly ever two-day long Bangladesh-China steel summit-2024 at Radisson Blu Water Garden Hotel, Dhaka started on Friday.
Bangladesh Iron and Steel Importers Association and China Steel Imports and Exports Association organised the summit jointly.
Abu Jar Gifari Jewel, President of Bangladesh Iron and Steel Importers Association expressed his pleasure to China Alliance Exporters and Importers’ President Gend Bo for participating and jointly organising the business summit.
Abu Jar Gifari Jewel said also that more than 50 Chinese businessmen from 24 companies and organisations of this sector have participated in the summit by taking invitations from Gend Bo.
“I hope huge Chinese investment will be attracted in Bangladesh steel sector shortly as the visiting business leaders of the country showed their eagerness in separate meetings with our businesses.
Amir Hossain Nurani, Director of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) said there are huge infrastructures are being constructed in Bangladesh and there are huge potentials of steel. So, the Chinese entrepreneurs’ could be benefitted from investing in this sector in Bangladesh.
China Alliance Exporters and Importers’ President Gend Bo said Chinese investors are very keen to invest more in this sector in Bangladesh.
Alhaj Nasir Ullah General Secretary of Bangladesh Iron and Steel Importers Association expressed hopes of booming Chinese investment in the sector in Bangladesh as there are huge potentials.
Iron and steel sector business leaders urged Bangladesh government to fix VAT and tax on importing raw materials of the sector giving priorities on boosting investment there. They also asked for creating business friendly environment also for booming foreign investment in the steel sector. The Bangladeshi organisers hoped that the investment in this sector will be increased to more than USD 10 billion from the current USD five billions within two years through this summit.
Organisers have put ahead the steel sector’s potentials in Bangladesh in the summit. The summit was inaugurated on Friday morning and was opened till the evening 6pm. Several meeting between businesses (b2b) of the two countries was took place during the summit ended on Saturday night.