Asia development bank, Financial services company

Amid the ongoing US-China trade war, Beijing is making its presence felt in countries like Nepal and Bangladesh.Due to the trade war with the US, China will increase its foreign direct investment (FDI) in Bangladesh through factory relocations, especially in the growing export processing zones (EPZs), the Daily Star reported.According to experts, Bangladesh being a member of China's Belt Road Initiative (BRI) might also prove to be a boon for the country amid the trade war.While Chinese policymakers are tightening capital flows to prevent a depreciation of the yuan, Beijing's involvement in various projects of Bangladesh has increased over the years. After Chinese President Xi Jinping's visit to Dhaka in 2016, the net FDI from China into Bangladesh increased to USD 506 million in 2017-18, which was only USD 68.5 million in 2016-17."Trade war to generate additional USD 400 million exports for Bangladesh," the Daily Star quoted Asia Development Bank's chief economist Yasuyuki Sawada as saying.As Bangladesh is the second hotspot for textile manufacturing after China, the country's garment sector witnessed significant growth with the escalation of the trade war between the US and China. The American retailers are now placing more work orders with Bangladesh in order to offset increasing tariffs.( With inputs from ANI )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Asia Development BankFOLLOW

Asia development bank, Latest News

International :Singapore's DBS Bank report record Q1 profits as LVB's NPA shrink

DBS Bank, Southeast Asia's largest bank by assets, reported its highest-ever quarterly profit aided in part by lower NPA (non-performing assets) provided for Lakshmi Villas Bank (LVB) which DBS acquired in November last year. ...

International :Singapore's DBS Bank to focus on India and China for growth

Singapore's DBS Bank, which acquired India's Lakshmi Vilas Bank (LVB) last November, plans to accelerate its business by doubling down on growth markets of India and China. ...

International :China strengthens its foothold in Bangladesh amid trade war with US

Amid the ongoing US-China trade war, Beijing is making its presence felt in countries like Nepal and Bangladesh. ...