Kazi Zahidul Hasan :
Top Bangladeshi officials will hold an official meeting today with visiting high-powered Saudi delegation, focusing on investment promotion and to strengthen bilateral economic cooperation.
The summit will be held in the morning (9.30am) at the Hotel Intercontinental Dhaka, according to foreign office.
Finance Minister AHM Mustafa Kamal, Planning Minister MA Mannan, Foreign Minister Dr AK Abdul Momen, Commerce Minister Tipu Munshi, Industries Minister Nurul Majid Mahmud Humayun, Prime Minister’s Adviser for Private Industry and Investment Salman F Rahman, State Minister for Power and Energy Nasrul Hamid Bipu, Prime Ministers’ Principal Secretary Md Nojibur Rahman, Chief Coordinator for Sustainable Development Goals (SDG) Affairs in the Prime Minister’s Office Abul Kalam Azad, Excecutive Chairman of Bangladesh Investment Development Authority (BIDA) Kazi M Aminul Islam and senior officials of relevant ministries and agencies will attend the bilateral meeting.
Later, high officials of relevant government agencies of Bangladesh and the Saudi delegation will hold G-to-G and B-to-B sessions before signing a slew of agreements and MoUs covering areas such as investment in oil refinery, fertilizer plant, telecom, aircraft maintenance facilities, development of a Saudi special economic zone, cement, textile mill, high voltage cable manufacturing unit, manufacture of sanitary wares, construction of a high-tech park, food and bakery industry, paper mill, production of drugs and API, halal meat processing plant, skill development, insurance, contract farming, aquaculture, logistic services.
Officials said, the two sides are expected to discuss on 17 investment projects in the G-to-G and B-to-B sessions and deals will be signed thereby.
Earlier, a number of government ministries and agencies of Bangladesh have picked up these projects considering interest of the Saudi Government.
Officials said, Bangladesh has prepared an investment proposal totalling US$10 billion in view of Saudi delegation’s visit here.
“A number of investment deals and MoUs are expected to sign between the two countries after the bilateral meeting. These deals will lay the foundation for enhanced economic cooperation between Bangladesh and the Kingdom of Saudi Arabia,” Executive Chairman of Bangladesh Investment Development Authority (BIDA) Kazi M Aminul Islam told The New Nation.
“The volume of investment could be billions,” he added.
“Saudi investment is highly significant for Bangladesh’s economic growth and development. Signing of investment deals will open up a new chapter in bilateral relations of Bangladesh and Saudi Arabia,” said Kazi M Aminul Islam.
The 34-member Saudi delegation, led by Economy and Planning Minister Mohammed Al-Tuwaijri and Commerce and Investment Minister Dr Majid bin Abdullah Al Qasabi, arrived in Dhaka on Wednesday night.
The unprecedented visit of Saudi delegation is being viewed as a major boost for Dhaka-Riyadh bilateral relationship.
It also created much hype in local media over Saudi investment in Bangladesh as the visit of Saudi delegation came close on the heels of Crown Prince Mohammed bin Salman’s trip to Pakistan and India.
Saudi Arabia signed investment deals worth more than $20 billion during visit of Saudi Crown Prince’s visit to Pakistan on February 18.
During his visit to India, Crown Prince said Saudi Arabia’s investments in India would reach $100 billion in the next two years from $10 billion now.
Bangladesh maintains strong political, cultural, economic and defense ties with Saudi Arabia. The Saudi Kingdom hosts more than one and half millions Bangladeshi expatriates.
The relations between the two countries take a new course after Prime Minister Sheikh Hasina’s four-day visit to Saudi Arabia in October 2018.
During the visit, Hasina had fruitful discussion with the Saudi government about investment in Bangladeshi projects and offered a special economic zone to Saudi investors.
