Saudi government interested to invest in Bangladesh
- November 21, 2021
- views
Saudi Arabia agreed to sign several government to government agreements on investment with Bangladesh. The Saudi government in addition is considering providing duty free access for 137 Bangladeshi export items.
Salman F Rahman, Private Industry and Investment Adviser to the Prime Minister, informed this to the media after arriving from Saudi Arabia. He informed that it was a fruitful visit. During the visit, Prime Minister's advisor said meetings were held in a cordial atmosphere. He had a meeting with Dr. Majid bin Abdullah Al Kassabi, commerce minister of Saudi Arabia. During the meeting with commerce minister of Saudi Arabia, Salman F Rahman requested to allow 137 export items of Bangladesh to enjoy duty free access in Saudi market. The Saudi minister ensured the request will be given importance.
Saudi commerce minister and finance minister visited Bangladesh in 2018. Several memorandums of understandings were signed during that visit. During this visit by Private Industry and Investment Adviser to the Prime Minister, progress of those memorandums of understandings was discussed. Salman F Rahman requested Saudi Arabia to enhance business activities.
Saudi Arabia showed great interest in investing in Bangladesh. The Bangladeshi delegation expects agreements on investment in public private partnership arrangement signed within a short period of time between Bangladesh and Saudi Arabia. Out of the projects where the Bangladeshi delegation invited Saudi Arabia to invest, developing Cox's Bazar town as a tourist hub and rail tracks construction from Dhaka to Payra port are main ones. Bangladesh expects developing Cox's Bazar in international standard. Rail tracks between Dhaka and Payra port will increase connectivity. It will improve the infrastructure.
The Bangladeshi delegation led by Salman F Rahman described to the Saudi government how Bangladesh has taken steps to ensure a safe investment passage for foreign investors. They ensured that Bangladeshi is now a good destination for foreign direct investment. And more steps will be taken in near future.
During the press conference after returning to Bangladesh, Salman F Rahman informed journalists that he conveyed the PM's message that Bangladesh will allow Saudi investors to invest in a special economic zone. He mentioned the proposal was welcomed by the Saudi government.
Exchanging delegations between businesses of two countries is important. Both Bangladesh and Saudi Arabia know it. Salman F Rahman believes his visit will enhance the businesses between two countries and increase bilateral trade. After taking the office, Salman F Rahman met foreign delegations and investors and tried to convince them to invest in Bangladesh.
