Saudi Arabia Interested in Major Investments in Bangladesh
Collected Photo
Saudi Arabia has shown strong interest in increasing investments in the development of Bangladesh’s transport, logistics and maritime sectors. In particular, new opportunities for partnership are emerging between Dhaka and Riyadh in promising sectors ranging from cold storage to port management and logistics supply chains.
A high-level meeting between a Bangladesh delegation and visiting Saudi Deputy Minister of Transport and Logistics Services Dr. Rumaih Mohammed Al-Rumaih was held Wednesday morning at the Investment Building in the capital. The meeting featured productive discussions on the overall progress of bilateral investments and future plans of action.
The Bangladesh side was led by Ashik Chowdhury, Executive Chairman of the Bangladesh Investment Development Authority (BIDA) and the Public-Private Partnership Authority (PPPA). Senior officials from the PPPA, BIDA and the Bangladesh Economic Zones Authority (BEZA) also took part in the discussions.
During the meeting, the Saudi deputy minister praised the Bangladesh government’s initiatives to facilitate trade and business and promote the private sector. He noted that Bangladesh’s policy direction aligns closely with Saudi Arabia’s own economic vision.
Dr. Rumaih Mohammed Al-Rumaih said, “Saudi Arabia is working to establish itself as a global logistics hub, and our leading companies are being provided with all kinds of support for global investments. We want to further expand the business footprint of Saudi companies in Bangladesh. At the same time, we warmly welcome Bangladeshi companies interested in doing business in Saudi Arabia.”
As a successful example of Saudi investment, the deputy minister mentioned the operations of Red Sea Gateway Terminal (RSGT) at the Patenga Container Terminal of Chattogram Port. He said that more than 98 percent of the terminal’s workforce is Bangladeshi. Building on this success, RSGT is seeking further investment opportunities in the modernization, technological advancement and capacity building of Bangladesh’s maritime logistics sector.
After the meeting, BIDA Executive Chairman Ashik Chowdhury expressed satisfaction with the progress of the discussions. He said, “Saudi Arabia has deep interest in certain sectors such as logistics and supply chain networks, which also align with our national priorities. In addition, we are ready to welcome Saudi investment in the financial services sector.”
Ashik Chowdhury also said that close engagement has already begun with several Saudi companies to help them understand Bangladesh’s investment environment and opportunities so that the discussions can be translated into concrete outcomes quickly.
Representatives of both countries believe that by leveraging the current economic momentum, mutually beneficial projects can be advanced quickly, taking bilateral trade relations to a new height in the days ahead.
