Saudi Arabia Eyes $1bn Investment in Bangladesh

Saudi Arabia has expressed interest in investing up to US$1 billion in Bangladesh's ports, railways and other key infrastructure projects, as a high-level Saudi delegation met Prime Minister Tarique Rahman on Wednesday to explore expanding bilateral economic cooperation.

The meeting was held at the Prime Minister's Office at the Jatiya Sangsad Bhaban.

The Saudi delegation was led by Vice Minister for Transport and Logistic Services Dr. Rumaih Mohammed Al-Rumaih.

During the meeting, both sides discussed Bangladesh-Saudi Arabia relations, investment opportunities and ways to strengthen cooperation in infrastructure development.

The delegation reaffirmed Saudi Arabia's commitment to deepening economic ties with Bangladesh and expanding investment in strategic sectors.

Prime Minister Tarique Rahman said Bangladesh attaches great importance to its longstanding and friendly relationship with Saudi Arabia and remains committed to creating a business-friendly environment for foreign investors.

The Saudi delegation said Red Sea Gateway Terminal International is interested in investing US$180 million to develop a Bay Terminal in Bangladesh and plans to increase its total investment in the country's port sector to US$1 billion.

Delegation members also said several Saudi companies are keen to invest in Bangladesh's ports, railways and other infrastructure sectors, adding that more detailed discussions could take place through future bilateral meetings.

The Prime Minister highlighted his government's investment-friendly policies and ongoing initiatives to attract greater foreign direct investment.

He thanked the Saudi delegation for visiting Bangladesh and for their strong interest in investing in the country's infrastructure sector.

In response, the delegation expressed its eagerness to welcome Prime Minister Tarique Rahman to Saudi Arabia for further discussions on bilateral cooperation.

Road Transport, Bridges and Railways Minister Shaikh Rabiul Alam, Prime Minister's Adviser on Foreign Affairs Humaiun Kobir and Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashik Chowdhury were present at the meeting.

The Saudi delegation also included Assistant Deputy Minister for Investment Eng. Ammar Al-Taff, Red Sea Gateway Terminal International Board CEO Amer Reda, Red Sea Gateway Terminal CEO Lars Vang, Saudi Ambassador to Bangladesh Dr. Abdullah Zafer H. bin Abiyah and other senior officials.