Pakistan and Myanmar no safer place for Chinese companies as they relocated to Bangladesh

Beijing, China: Chinese companies are started to relocate to Bangladesh from Pakistan and Myanmar as they believe these countries are no more a safe place for their business.

Amid growing security concerns in Pakistan and the fresh sanctions imposed by Myanmar, some Chinese companies intend to relocate their entire investment and operations from Pakistan and Myanmar to Bangladesh.

Chinese companies having interests in the import and distribution of various products, including electro-mechanical equipment, textile and apparel processing, are intending to make the move.

A team of Chinese companies’ representatives is likely to visit Bangladesh for a feasibility study and work out its operation plans for setting up its business in Bangladesh. They propose to interact with the Bangladesh Economic Zone officials and also visit 4 Economic Zones.

Notably, 36 Chinese nationals were killed and 26 injured in a terrorist attack in Pakistan on July 14 2021. The July 2021 incident that impacted bilateral ties was a suicide attack on a bus that was carrying workers to the worksite of the Dasu Hydropower Project.

Pakistan initially sought to play it down as an accident but the Chinese government intervened, issued a terse statement demanding that the terror aspect be also probed and secured a joint probe that established it as a terror attack.