Dhaka, Riyadh discuss mega investment plan
Bangladesh and Saudi Arabia will discuss a multibillion dollar investment package on Thursday as the oil-rich kingdom is keen to invest in potential areas, including infrastructure and energy sector, reports UNB.
A big delegation comprising two top Saudi ministers -- commerce and investment minister Majed Bin Abdullah Al Kassabi and economy and planning minister Mohammed Bin Mazyad Al-Twaijri -- was scheduled to arrive on Wednesday night by a special flight to discuss the investment issues.
Senior officials of Saudi Public Investment Fund, Saudi Fund for Development and top officials of Saudi companies are among the 35-member Saudi delegation, the Bangladesh foreign ministry said.
Finance minister AHM Mustafa Kamal will lead the Bangladesh side during Bangladesh-Saudi Arabia bilateral meeting to be held in a city hotel on Thursday with special focus on investment.
Planning minister MA Mannan, foreign minister AK Abdul Momen, commerce minister Tipu Munshi, industries minister Nurul Majid Mahmud Humayun, prime minister's advisers and state minister for power, energy and mineral resources Nasrul Hamid will be present at the meeting.
The Saudi delegation members are expected to meet president Abdul Hamid and prime minister Sheikh Hasina before leaving Dhaka on Thursday night.
The foreign minister on Tuesday hoped that the high-profile Saudi delegation will come up with a big investment package during the visit.
"We'll let them know about the potential areas of investment. I believe the outcome will be very good."
The relations between Bangladesh and Saudi Arabia have reached a new height in recent time by consecutive four successful visits of prime minister Sheikh Hasina to Saudi Arabia in the last three years, officials said.
During her meetings with Saudi leadership, it was identified that despite having huge potentials, the two countries are far behind in exploring the opportunities for cooperating in the field of trade and investment, they said.
During the last visit of the prime minister to the Kingdom of Saudi Arabia in October last year, the focus was on expanding cooperation in the field of investment.
On 17 October 2018, Bangladesh and Saudi Arabia signed five Memoranda of Understanding (MoUs) to enhance cooperation in chemical, steel and solar power sectors between the two countries.
The MoUs were inked after the meeting of prime minister Sheikh Hasina with the Saudi business community, including leaders of the Council of Saudi Chamber and Riyadh Chamber of Commerce, at King Saud Palace.