PM seeks Saudi investment

Prime Minister Sheikh Hasina on Wednesday sought larger investment of Saudi Arabia particularly in the special economic zones of Bangladesh.

“I welcome the Saudi Arabia’s investment in Bangladesh,” she said.

The prime minister said this while the visiting Saudi Arabia’s Foreign Minister Faisal bin Farhan al Saud called on her at Ganabhaban, reports BSS.

PM’s Press Secretary Ihsanul Karim briefed the newsmen after the meeting.

The prime minister hoped that the Saudi Arabia’s investors would avail the opportunities prevailing in Bangladesh.

“Bangladesh is ready to extend support to (the Saudi Arabia’s) investors that include allocating dedicated land for them in the special economic zones,” she said, adding her government has been establishing 100 special economic zones across the country.

Sheikh Hasina expressed her satisfaction over existing bilateral relations with the Kingdom of Saudi Arabia (KSA).

She said, “Bilateral cooperation has extended and was consolidated in many areas that included economy, trade, commerce, investment, energy, education, culture and defense”.

The prime minister said the Saudi Arabia has a special place in the hearts of the people of Bangladesh.

Sheikh Hasina conveyed her greetings to Saudi King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman Al Saud.

The prime minister appreciated Saudi King Salman bin Abdulaziz Al Saud, the custodians of the two holy mosques, for his contribution to the Muslim Ummah.

Meanwhile, the two countries signed two instruments – Agreement on Cooperation and Mutual Assistance in Customs Matters and a MoU on Cooperation between the Foreign Service Academies of the two countries.

Foreign Minister AK Abdul Momen and visiting Saudi Foreign Minister Prince Faisal bin Farhan Al Saud signed the instruments after the first-ever Political Consultations between Bangladesh and the Kingdom of Saudi Arabia at a hotel in Dhaka.

In the meeting, Saudi foreign minister drew Sheikh Hasina’s attention towards faster implementation of Saudi investment proposals, meeting sources said. Years back, top Saudi investors proposed to invest above $15 billion in 30 infrastructure projects in Bangladesh. However, implementation of that Greenfield investment is yet to take place largely for dilly-dally approach from Bangladesh side. The number of Bangladeshi workers working in the KSA is estimated at 2.3 million now, contributing more than $3.5 billion per annum to Bangladesh economy.

At the consultation, Momen led an 8-member Bangladesh delegation while the Saudi FM led a 6-member delegation, reports UNB.

Both the leaders reaffirmed the bond of enduring ties and friendship existing between the two brotherly countries and expressed satisfaction over the state of bilateral cooperation.

The issues that came up for review and discussion included increased bilateral trade and investment, recruit of skilled manpower, Hajj management, education, health, environment and climate change, ICT and tourism.

The Saudi FM stressed the need to enhance collaboration in trade and investment and stated that some Saudi companies have already invested in some sectors in Bangladesh and some other companies are considering greater engagement in various areas. He sought policy and institutional support from the Bangladesh side.

The Saudi FM also suggested that launching a joint business forum and exchange of business delegation between the two countries could augment bilateral trade and business.

The Saudi FM left Dhaka on Wednesday afternoon, wrapping up his less than 24-hour visit. At the airport, the Saudi Minister was received and seen off by the Momen, the foreign secretary and high officials of the ministry.