Saudi company expresses interest in billion-dollar investment in Bangladesh
Dhaka, July 16
A high-level delegation from Saudi Arabia, led by Rumaih bin Mohammed Al-Rumaih, the Vice Minister of Transport and Logistic Services, and including the CEO of Red Sea Gateway Terminal International, paid a courtesy call on Bangladesh Prime Minister Tarique Rahman.
The courtesy meeting was held on Wednesday at the Prime Minister's Office in the National Parliament (Jatiya Sangsad) Bhaban.
During the meeting, discussions focused on various aspects of bilateral friendly relations, investment, and expanding cooperation in infrastructure development between Bangladesh and Saudi Arabia. Members of the delegation expressed their commitment to further strengthening this relationship in the future. The Prime Minister stated that the long-standing friendly relations with Saudi Arabia are highly valued by his government, the Prime Minister's Office said in a statement.
The delegation informed the Prime Minister that Red Sea Gateway Terminal International is interested in constructing a Bay Terminal in Bangladesh with an investment of USD 180 million, as well as scaling up its investment in Bangladesh's port management to USD 1 billion.
Furthermore, the delegation conveyed that various Saudi entities, including Red Sea Gateway Terminal International, are keen on investing in other sectors of Bangladesh. The Prime Minister briefed the Saudi delegation on his government's investment-friendly policies and initiatives, it added.
The delegation noted that they have assessed investment opportunities in various sectors, including ports and railways in Bangladesh. They also mentioned that detailed discussions on these matters could take place in subsequent joint meetings between the two countries, the statement said.
Prime Minister Tarique Rahman thanked the Saudi delegation for visiting Bangladesh and expressing interest in investing in the country. In response, members of the delegation expressed that they eagerly look forward to welcoming the Prime Minister to Saudi Arabia, the statement said.
Also present at the meeting were Sheikh Rabiul Islam, Bangladesh Minister of Road Transport, Bridges, and Railways; Humayun Kabir, Foreign Affairs Advisor to the Prime Minister; and Ashik Chowdhury, Chairman of the Bangladesh Investment Development Authority (BIDA).
The Saudi delegation also included Engineer Ammar Al-Taf, Assistant Deputy Minister for Investment Development of Saudi Arabia; Amer Reda, CEO of the Board of Directors of Red Sea Gateway Terminal International Company; Lars Vang, CEO of Red Sea Gateway Terminal; Dr. Abdullah bin Abiah, Saudi Ambassador to Bangladesh; and other senior officials.
— ANI
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