FBCCI pledges full assistance for Saudi investors in Bangladesh
Saudi businessmen were also urged to invest in Bangladesh’s clean energy, infrastructure, auto part manufacturing, housing industry and IT, alongside the banking and financial sectors.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade organisation of the country, has pledged all sorts of assistance for the investors from Saudi Arabia in Bangladesh.
"On behalf of the private sector, the FBCCI has always given special importance to Saudi Arabia as one of the trade and investment partners of Bangladesh," said the chamber President Mahbubul Alam during a meeting with the Vice Chairman of the Federation of Saudi Chamber and Commerce Abdul Aziz Saleh Al Faridi in Riyadh on 2 November.
Mahbubul added that nearly 2.6 million expatriate Bangladeshis are working tirelessly to strengthen the country's economy by sending remittances from Saudi Arabia.
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"Bangladesh and Saudi Arabia have had a very friendly relationship for a long time. Saudi Arabia has always stood by Bangladesh's economic development and financial cooperation," he mentioned.
The chamber president also urged the Saudi Arabian companies to invest in potential sectors of Bangladesh, stating that they can benefit greatly by investing in Bangladesh's garment industry, furniture sector, ceramics, frozen food, freshwater fish, halal food, spices, leather goods and jute and jute products.
Saudi businessmen were also urged to invest in Bangladesh's clean energy, infrastructure, auto part manufacturing, housing industry and IT, alongside the banking and financial sectors.
Mahbubul Alam also called for Saudi Arabia's initiative to recruit more skilled manpower from Bangladesh.
During the meeting, Federation of Saudi Chamber and Commerce Vice Chairman Abdul Aziz Saleh Al Faridi said both Bangladesh and Saudi Arabia have great opportunities for business and investment growth as Bangladesh has made unprecedented progress in the field of trade and commerce.
He mentioned that the participation of the Saudi business team in Bangladesh Business Summit 2023 organised by the FBCCI under the leadership of Saudi Arabian Minister of Commerce Majid bin Abdullah Al-Qasabi in March this year had been very fruitful.
Earlier, a joint business council was formed between Bangladesh and Saudi Arabia during the Bangladesh Business Summit 2023. The first meeting of the council between businessmen of the two countries was held in Riyadh on 2 November.
FBCCI President Mahbubul Alam and Oyad Al Amri of the Federation of Saudi Chambers and Commerce led their respective sides at the meeting.
Later, a B2B matchmaking session was held in collaboration with the Riyadh Chamber of Commerce.
The council agreed to increase mutual trade and investment between the two countries by identifying priority sectors such as energy, IT, healthcare, tourism, food products, logistics, garment industry, manufacturing, etc, said a FBCCI press release.
