Saudis keen to enhance trade ties in key areas
Patenga Container Terminal operation agreement to boost Saudi investment in Bangladesh, PM says
Saudi Arabia has vowed to enhance its business ties with Bangladesh in various sectors, including food, energy, logistics, and manufacturing.
Saudi entrepreneurs expressed their investment interest during a meeting of the Saudi Bangladesh Business Council hosted by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at a Dhaka hotel on Wednesday (6 December).
Speaking as the chief guest at the event, Saudi Investment Minister Engineer Khalid A Al-Falih stressed the need to explore ways to facilitate trade for mutual benefit, highlighting the existing trade relations between Bangladesh and Saudi Arabia in a few areas.
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Prime Minister's Private Industry and Investment Advisor Salman F Rahman urged Saudi businessmen to invest in Bangladesh and assured them that the Bangladeshi government would provide full support to businesses from both nations.
Salman also encouraged the continued export of skilled human resources from Bangladesh to Saudi Arabia in the future.
FBCCI President Mahbubul Alam mentioned that the Bangladesh government has allocated 300 acres of land in the Bangabandhu Sheikh Mujib Shilpa Nagar to establish the Saudi Arabia Special Economic Zone.
He also pointed out that visiting investors might consider investing in other such economic zones across the country.
Saudi Deputy Minister for Investors Outreach Badr AlBadr expressed Saudi Arabia's interest in boosting bilateral trade with Bangladesh and diversifying their investments.
He stated that the Gulf country aims to collaborate with Bangladesh in various sectors, starting with a few selected areas.
AlBadr emphasised that Riyadh and Dhaka would work together to overcome challenges in the future.
Earlier, the FBCCI hosted a welcome dinner in honour of the visiting Saudi delegation on Tuesday night in the capital.
Among those present at the business council meeting were Chairman of the Saudi Bangladesh Business Council Ayad Al Amri, Saudi Ambassador to Bangladesh Essa bin Yousef Al Duhailan, FBCCI Vice President Khairul Huda Chopol, and other directors and business dignitaries from Bangladesh and Saudi Arabia.
Concession agreement PCT operation
Prime Minister Sheikh Hasina said the concession agreement on operation of Patenga Container Terminal between the Chittagong Port Authority (CPA) and Saudi Arabia's company Red Sea Gateway Terminal will help further enhance Saudi investment in Bangladesh.
"This concession agreement is a testament to our two countries' joint vision and steadfast commitment to economic cooperation and prosperity," she said.
The prime minister along with Saudi Investment Minister Khalid A Al-Falih witnessed the signing ceremony at her office in Dhaka as CPA Chairman Rear Admiral Mohammad Sohail and CEO of RSGT Jeans O Foley inked the agreement.
The Saudi minister earlier paid a courtesy call on the Bangladesh premier at her office in the morning, reports BSS.
"As we witness the signing of this concession agreement, we look forward to a future where Patenga Container Terminal will become a driving force for economic growth and prosperity in Bangladesh," Sheikh Hasina said at the signing ceremony.
She said the Red Sea Gateway Terminal will operate the Patenga Container Terminal for the next 22 years that will strengthen bilateral relations, especially in the field of trade and commerce.
The Chittagong Port Authority's Patenga Container Terminal Project is a beacon of hope for Bangladesh's economic uplift, she added.
