Bangladesh faces losing major Chinese investment for clean energy projects unless leaders make fast changes to rules and policies. The Centre for Policy Dialogue shared research at a meeting held Monday at Lakeshore Hotel. Chinese companies provide more than half of all foreign money that goes into Bangladesh renewable energy work. These investors face many problems before they can even start building power plants.
Government offices create long waits and confusing steps that make investment risky. Companies must fill out the same forms many times and cannot track how their projects move forward. Officials sometimes change rules without warning investors first. The study found that 31 large solar projects got canceled after the government had already given approval letters.
These cancelled projects would have created 3,300 megawatts of power and brought six billion dollars from other countries. Chinese investors already spent 300 million dollars buying land and preparing for construction work. The sudden cancellation left these companies with worthless property and damaged trust between Bangladesh and foreign money sources.
Researchers found problems at every level of government operations. Officials do not provide clear information about laws and treaties. The tender process lacks transparency and takes multiple approvals. Land purchase remains difficult and time-consuming for investors.
The Centre for Policy Dialogue wants Bangladesh to create online systems for all business permits and licenses. Leaders should also remove limits on rooftop solar power and provide compensation to affected investors. Experts warn that Bangladesh must act quickly or Chinese companies will invest their money elsewhere.
Government offices create long waits and confusing steps that make investment risky. Companies must fill out the same forms many times and cannot track how their projects move forward. Officials sometimes change rules without warning investors first. The study found that 31 large solar projects got canceled after the government had already given approval letters.
These cancelled projects would have created 3,300 megawatts of power and brought six billion dollars from other countries. Chinese investors already spent 300 million dollars buying land and preparing for construction work. The sudden cancellation left these companies with worthless property and damaged trust between Bangladesh and foreign money sources.
Researchers found problems at every level of government operations. Officials do not provide clear information about laws and treaties. The tender process lacks transparency and takes multiple approvals. Land purchase remains difficult and time-consuming for investors.
The Centre for Policy Dialogue wants Bangladesh to create online systems for all business permits and licenses. Leaders should also remove limits on rooftop solar power and provide compensation to affected investors. Experts warn that Bangladesh must act quickly or Chinese companies will invest their money elsewhere.
