Staff Reporter :
Bangladesh must adopt several policies, including offering tax incentives, reducing import duties, and streamlining documentation processes, to attract Chinese investment in the renewable energy sector, the Centre for Policy Dialogue (CPD) has recommended.
Dr. Khondaker Golam Moazzem, Research Director at CPD, presented these recommendations at a program in Dhaka on Thursday.
Experts at the event discussed strategies to increase Chinese involvement, particularly in solar energy projects in Bangladesh.
The program, organized in collaboration with the Bangladesh-China Renewable Energy Forum, brought together policymakers, industry leaders, and financial experts to explore strategies for attracting overseas investment in renewable energy, especially solar power.
Dr. Moazzem emphasized the need for green bonds and public-private joint ventures to fund renewable energy initiatives.
In his presentation, titled “Overseas Investment in the Renewable Energy Sector: How to Attract Chinese Investment in Bangladesh?”, he pointed out that Bangladesh’s interim government recently canceled 37 renewable power plants approved under the previous regime, creating a fresh opportunity for Chinese investment.
Discussants noted that the Bangladesh government has decided to establish 10 grid-connected solar power plants through private sector initiatives, which could serve as a significant test case for Chinese involvement.
Bangladesh has set ambitious targets to meet 40% of its energy needs through renewable sources by 2041. Achieving this will require an estimated investment of $1.5 to $1.71 billion.
China is the world’s largest investor in renewable energy, having invested around $676 billion in clean energy in 2023 alone, accounting for 38% of the global total.
This positions China as a crucial partner in helping Bangladesh meet its energy goals.
Chief Adviser of the interim government, Prof. Muhammad Yunus, had earlier urged Chinese Ambassador to Dhaka, Yao Wen, to consider relocating some of China’s solar panel manufacturing facilities to Bangladesh.
During the recent visit of the Chief Adviser to the UNGA, Chinese Foreign Minister Wang Yi indicated that China wants to invest in solar panels in Bangladesh and deepen trade and economic ties.
Prominent experts from both the public and private sectors participated in the event, including Md. Abdur Rahman Khan FCMA, Chairman of the National Board of Revenue (NBR); Chowdhury Liakat Ali, Director of the Sustainable Finance Department at Bangladesh Bank; Md. Ariful Hoque, Director General of the Bangladesh Investment Development Authority (BIDA); Syeda Afzalun Nessa, Head of Sustainability at HSBC; Md. Shahidur Rahman, Country Manager of Jinko Solar Bangladesh; Shafiqul Alam, Lead Energy Analyst at the Institute for Energy Economics and Financial Analysis (IEEFA); and Gan Peng, Chairman of China Solar (Bangladesh) Co. Ltd. Dr. Fahmida Khatun, Executive Director of CPD, moderated the event.
