DHAKA, March 27 (Xinhua) -- China has emerged as a global leader in renewable energy and worked with Bangladesh for its development and transformation, a Bangladeshi business leader told Xinhua in a recent interview.
"The sustainable development is very important to sustainability and all other sectors," Mostafa Al Mahmud, chairman of Bangladesh Sustainable and Renewable Energy Association (BSREA), said.
He said Bangladesh has been focusing on the renewable energy sector. While the country has not yet achieved significant production levels from renewable sources, the government is now making efforts to advance in this area.
"Our government has established new objectives, aiming to achieve 40 percent of electricity from renewables by 2041 and 100 percent by 2050. This means we have a plan to achieve a net zero target within 2050," he said.
As part of its efforts, he said the government has recently unveiled a tax exemption package for renewable energy projects.
"The incentive is aimed at supporting long-term growth and development of renewable energy projects," he said, hoping that this will help them achieve more collaboration with Chinese companies in the near future.
With the continued implementation of the Belt and Road Initiative in Bangladesh and the government's push for energy structure transformation, in recent years, Chinese companies have invested in and constructed several renewable energy projects in Bangladesh, including the Mymensingh photovoltaic power station and the Cox's Bazar wind farm.
Regarding this, Mostafa said, "China has been helping the development of Bangladesh's renewable energy sector in terms of investment and financing, construction, and providing equipment."
Most of Bangladeshi businesses in the association are working with Chinese renewable energy equipment, like solar module and every single item of wind farm, he said.
"Bangladesh can immensely benefit by learning from remarkable Chinese scientific innovations and developments in renewables," he said, adding China has the experience, capacity and practical knowledge that Bangladesh can utilize to develop this sector.
Mostafa said that China's renewable energy investments in Bangladesh are expected to create tens of thousands of jobs, promoting social and economic development.
He stressed Bangladesh and China have maintained a strong cooperative relationship for a long time, and this relationship has been further deepened in the field of renewable energy, bringing win-win results for both countries.
"I would like to invite Chinese investors to invest in Bangladesh to support the Bangladeshi economy," he said. ■
