Chinese giant Tiens to expand business in Bangladesh

Tiens Group, a Chinese conglomerate, has chosen Bangladesh as the first country to implement its flagship business project ‘One body-Multiple wings’.

Under a major investment move, the company will set up a manufacturing base of healthcare products.

It will also establish an e-commerce platform and an R&D (research and development) centre in collaboration with local education and research institutions.

The group plans to build world-class hotel and hospital, and cooperate with local universities to create scope for quality higher education.

Li Jinyuan, chairman of the Tianjin-based corporation, made the disclosure at a press briefing at a city hotel on Friday.

Tiens Group has successfully experienced two journeys since its inception in 1995.

‘One body-Multiple wings’ is the third entrepreneurial journey of the group, Mr Li said.

“Our first choice is Bangladesh as it offers excellent potential for such businesses,” he mentioned.

After Bangladesh, they will later enter other South and Southeast Asian, African, North and South American countries, Mr Li said.

A production base aside, he said, the firm has planned to introduce its cross-border e-commerce platform Maya.

Under a new global branding strategy, Tiens wants to expand its other key projects like All-legend International Hotel and Tai Ji Sun Hospital in Bangladesh.

“We call it ‘One body-Multiple wings’ strategy. Wings mean areas of services,” said the business leader.

Tiens has stake in areas like biotechnology, finance, logistics, property, education, retail and tourism.

According to Mr Li, his company has laid the groundwork globally for the past three years before choosing Bangladesh as their next outbound investment hub.

“It (the project) not only helps create jobs and vibrate economic wheels but also ensures healthy life of the people,” he asserted.

The founder of the firm said they have established Tianshi College and Tianyuan University at ¥30 billion.

They have also collaborated with 40 global entities where the students will get job opportunities.

Mr Li said they want to give such an education that will enable graduates to get returns from their investment for education within three years.

“We want to have such collaboration with Bangladeshi universities as well. This will give the students quality education with job facility,” he stated.

About future job prospects, Mr Li said Tiens wants to open at least 1.0 million outlets globally in the next three years.

“The owners need to recruit people to operate the stores. The number will be quite big,” he added.

Launched in northeastern Chinese port city of Tianjin, Tiens Group expanded its business operation in more than 190 countries and regions of the world.

The multinational came to Bangladesh in 2004. It has so far established three branches with over 40 franchises.