POST TIME: 7 March, 2019 00:00 00 AM
$20b investment plans
2 Saudi ministers arrive in capital
Staff Reporter, Dhaka

2 Saudi ministers
arrive in capital

Salman F Rahman, the prime minister’s private industry and investment adviser, welcomes a Saudi delegation, led by the country’s commerce and investment minister Dr Majid Bin Abdullah Al Qasabi, at Hazrat Shahjalal International Airport in the capital early today. Saudi economy and planning minister Mohammad Bin Mazyed Al-Twaijri is also a part of the delegation. Independent Photo

A high-level delegation of the Kingdom of Saudi Arabia (KSA) arrived in the capital  early today as Bangladesh is seeking around $20 billion investments from the kingdom in various development projects.

Salman F Rahman, private industry and investment adviser to the prime minister, received the delegation, which includes two Saudi ministers, at Hazrat Shahjalal International Airport.

The delegation, having 37 members, is led by Saudi Commerce and Investment Minister Dr Majid Bin Abdullah Al Qasabi. Saudi Economy and Planning Minister Mohammad Bin Mazyed Al-Twaijri is also one of the members of the delegation.

The delegation is composed of 17 government officials and 20 members of the Saudi business community.

The Saudi team will join a dialogue on investment and trade cooperation with representatives of Bangladeshi ministries and state-owned enterprises between 9am and 1pm at hotel Intercontinental Dhaka today.

Apart from holding talks with government officials of Bangladesh, the high-profile Saudi delegation is also scheduled to meet President M Abdul Hamid and Prime Minister Sheikh Hasina.

Bangladesh government expects that the KSA delegation will mainly focus their investments on at least 16 development projects, including energy, health, aviation and infrastructure.

Meanwhile, Bangladesh Investment Development Authority (BIDA) Executive Chairman Kazi M Aminul Islam at a press conference yesterday said they are expecting an investment worth between $15 billion and $20 billion in various investment projects from Saudi Arabia.

The relationship between Bangladesh and Saudi Arabia is about to reach new heights with the arrival of the biggest delegation from Riyadh, Islam added.

The visit will be marked by the signing of deals, Memoranda of Understanding (MoUs) and holding of discussions on at least 16 projects involving various government ministries and state-owned enterprises, he said.

The delegation also includes officials representing Saudi Arabia’s Public Investment Fund (PIF), which is worth quarter of a trillion US dollars and

headed by Crown Prince Mohammed Bin Salman.

“We will begin our collaboration with projects and proposals that attracted attention from both the sides. At the same time, we are working on incorporating opportunities from the private sector,” the BIDA executive chairman said.

“We are hoping the economic strength of Saudi Arabia and the economic potential of Bangladesh will take our relationship to the next level for the benefit of the people of the two brotherly countries,” he added.

The KSA delegation is  scheduled to leave Dhaka today.