Saudi 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 a 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 today.

While briefing the reporters, after the meeting, Foreign Minister Dr 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. The 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 brotherly 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 said they want to do here 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 Paira Sea ports and economic zones to Saudi Arabia for mutual benefits.

In this regard, she directed the authorities concerned to take necessary measures to remove 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, they assured the Prime Minister of providing necessary financial and technical assistance to Bangladesh.

While discussing the issues of Hajj, both ministers requested Bangladesh to invest in building housing and hospitals in Saudi Arabia.

The two Ministers of Saudi Arabia requested the Prime Minister to establish pharmaceuticals, beverage and real estate industries in Saudi Arabia for the benefit 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 appreciated Bangladesh’s RMGs describing Bangladesh has shown that it has become the capital of textiles and garments in the world.

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

Shopping Basket

Capital Market Risk Assessment Survey

Iram Hoque

Mohd. Iramul Hoque (Iram) completed his bachelor’s degree in Industrial Engineering in 2018 from Purdue University.

He joined Deloitte Consulting LLP as a Consulting Analyst based out of New York City having previously worked in similar roles at PricewaterhouseCoopers LLP & Landis+Gyr.

Iram left consulting and returned to Bangladesh to take up the family business. Realizing the opportunity in the capital market in Bangladesh, Iram worked relentlessly to found Columbia Shares & Securities Ltd in 2021.

Md Saiful Hoque

Md. Saiful Hoque received his bachelor’s degree in Civil Engineering from Columbia University in 1986 followed by a master’s degree from Texas A&M University in 1988. Upon completion of his Graduate Degree, he joined Gulf Interstate Engineering Company in Houston, USA serving as a Project Engineer.

He returned to Bangladesh in 1992 to join Columbia Enterprise Ltd., the family business of Shipping and Freight Forwarding services. In addition, he has built flourishing businesses manufacturing Garment’s Accessories and Fast-Moving Consumer Goods.