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26 September, 2021 09:24:08 AM / LAST MODIFIED: 26 September, 2021 07:27:59 PM
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Saudi Arabia will sign G2G deal on investment with Bangladesh soon, says Salman F Rahman

Staff Reporter, Dhaka
Saudi Arabia will sign G2G deal on investment with Bangladesh soon, says Salman F Rahman

Salman F Rahman, Private Industry and Investment Adviser to the Prime Minister, held a press conference upon his arrival at Dhaka airport from Saudi Arabia on Saturday and briefed the media on the progress made in various meetings held with high level officials of the Saudi government.

Salman F Rahman said Saudi Arabia will sign "government to government deal" on investment with Bangladesh soon.

A virtual discussion was held with the commerce minister of the Saudi government, Dr. Majid bin Abdullah Al Kassabi, in a very cordial atmosphere during his visit to Saudi Arabia, said Rahman .

During the meeting,  Salman F Rahman urged the Saudi minister to provide duty free access for 137 export items of Bangladesh to Saudi market. 

Salman F Rahman expressed his high optimism on holding a virtual signing ceremony between the two governments regarding the proposed agreement on investment in public private partnership (PPP) arrangement within seven to ten days. 

He sought the cooperation of the Saudi commerce minister in this regard and the minister assured him of immediate action and gave a positive response when Prime Minister’s adviser Salman F Rahman requested for investment in Bangladesh under the Saudi Public Investment Fund.

He invited Saudi Arabia to invest in developing Cox's Bazar as a tourist hub of international standard under this fund. Salman F Rahman also made a request to the Saudi government to accelerate the business activities between the two countries by reviewing the memorandum of understandings signed in 2018, when the Saudi commerce minister and finance minister visited Bangladesh. He proposed forming a working committee for taking effective measures regarding the memorandum of understandings. 

During the meeting with Saudi investment minister Khalid Al Falih, Salman F Rahman described the steps taken by the present government to attract foreign direct investment. He also proposed to set up a special economic zone for Saudi investors as committed by the Prime Minister. The Saudi investment minister welcomed Bangladesh's proposal. The adviser to the Prime Minister said that the draft memorandum of understanding be finalized aimed at creating opportunities for Saudi investment in the public-private partnership system. The adviser further said that if the MoU is signed, the opportunities for Saudi investment in various sectors including infrastructures of Bangladesh will be widened. 

Adviser Salman F Rahman stressed the importance of exchanging delegations between businesses of the two countries and requested the Saudi investment minister to attend the international investment summit to be held in Bangladesh on November 28 and 29.

The adviser also met Saudi transport minister Saleh Al Jasser and sought Saudi investment in the construction of the rail tracks from Dhaka to the Payra port. He added that a memorandum of understanding could be signed between Bangladesh and Saudi Arabia to increase cooperation in the transport sector. Under this MoU, potential areas for skills exchange, training and cooperation could be explored. At that time, the Saudi transport minister assured all possible cooperation from his ministry.
Rahman also had a meeting with the Riyadh Chamber of Commerce. He said Bangladesh is committed to ensuring all cooperation on a priority basis for Saudi investors. There is immense potential for increasing bilateral trade between Saudi Arabia and Bangladesh and investment in Bangladesh, Salman F Rahman added. He also mentioned that Bangladesh currently has a trade volume of 1.3 billion US dollars with Saudi Arabia and stressed increasing it.

The adviser emphasized the importance of bilateral visits and meetings between the two countries' chamber officials to enhance mutual cooperation. He requested Saudi Arabia to increase cooperation with small and medium enterprises in Bangladesh.

Md Sirazul Islam, executive chairman of Bangladesh Investment Development Authority, Shaikh Yusuf Harun, executive chairman of Bangladesh Economic Zones Authority, and Sultana Afroza, chief executive officer (secretary) of Public Private Partnership Authority Bangladesh, among others, were present at the press conference.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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