Saudi Arabia offers large scale investment in Bangladesh

Saudi Arabia has offered to make a large scale of investment in various sectors of Bangladesh, as the country has a stable government and tremendous record of economic growth.

Saudi Arabian Minister of Investment Khalid A. Al-Faliah and Minister of Economy and Planning Faisal Alibrahim came up with the offer when they jointly called on Prime Minister Sheikh Hasina at her place of residence in Doha on Tuesday.

While briefing the newspersons, after the meeting, Foreign Minister AK Abdul Momen quoted the two ministers as saying, we see few issues as investors. Firstly, the stability (of the country), businessmen see whether it is stable, the future of investment. Present and future of Bangladesh is very good, and that is why we’ve taken the decision to strengthen relations with Bangladesh.

Bangladesh’s leadership is very good, vision is good and their commitments are very good, commended the ministers of the country, adding that the country has a stable government and Bangladesh’s economic growth is very good.

Saudi Arabia wants to establish Bangladesh as a regional hub considering its geographical location as the country is in between South and South-East Asia. If we make it a hub, we can cover up Indonesia, Malaysia and more…, they added.

The two ministers further said they want to set up petrochemical, diesel, jet fuel, fertiliser and major distribution centres as well as shipping lines.

In reply, the prime minister said that she has already given permission and urged them to start it immediately. 

Sheikh Hasina also offered Matarbari and Payra sea ports and economic zones to Saudi Arabia for mutual benefits.

In this regard, she directed the authorities concerned to take necessary measures for removing obstacles to facilitate Saudi investment in Bangladesh.

Saudi Arabia also wants to develop a partnership with Bangladesh through cooperation in various sectors including agriculture for mutual benefits. 

In this regard, the Saudi ministers assured the Bangladesh prime minister of providing necessary financial and technical assistance to the country.

While discussing the issues of Hajj, both the ministers requested Bangladesh for making investment to build housing and hospitals in Saudi Arabia.

The two ministers of Saudi Arabia also requested the prime minister to establish pharmaceuticals, beverage and real estate industries in Saudi Arabia for the benefits of the people of the two countries.

The Saudi Minister of Investment and the Minister of Economy also sought cooperation from Bangladesh in achieving the goal of Saudi Arabia’s vision 2030.

They highly appreciate Bangladesh’s readymade garment products describing that Bangladesh has showed that it has become the capital of textiles and garments in the world.

PM’s speechwriter M Nazrul Islam was present at the briefing.