Saudi Arabia has expressed interest in expanding investments in Bangladesh’s transport, logistics and maritime sectors, with both countries pledging to pursue mutually beneficial projects to deepen economic cooperation.
The interest was conveyed at a meeting on Wednesday between a Saudi delegation led by Deputy Minister for Transport and Logistics Services Dr Rumaih Mohammed Al-Rumaih and officials of the Bangladesh Investment Development Authority (BIDA) at the Investment Building in Dhaka.
The Bangladesh side was led by BIDA Executive Chairman and Public-Private Partnership (PPP) Authority Chief Executive Officer Ashik Chowdhury. Officials from the PPP Authority, BIDA and the Bangladesh Economic Zones Authority (BEZA) also attended the meeting.
The Saudi deputy minister said Bangladesh’s efforts to increase private sector participation and improve the ease of doing business are aligned with Saudi Arabia’s own development strategy.
He said Saudi Arabia is working to establish itself as a global logistics hub and is encouraging leading Saudi companies to invest overseas in priority sectors.
Al-Rumaih expressed interest in creating more investment opportunities for Saudi companies in Bangladesh. He also assured support for Bangladeshi firms seeking to expand their business in Saudi Arabia.
The meeting also discussed the operations of Red Sea Gateway Terminal (RSGT) at the Patenga Container Terminal of Chattogram Port.
The Saudi deputy minister said more than 98 percent of RSGT’s workforce in Bangladesh is made up of Bangladeshi employees. He said the company is exploring further investment opportunities in the country’s maritime logistics sector through skills development, adoption of modern technologies and enhanced terminal management capacity.
Both sides underscored the importance of leveraging the positive bilateral relationship to implement commercially viable projects.
Ashik Chowdhury said the discussions identified several sectors where Saudi investors have shown strong interest and which closely align with Bangladesh’s development priorities.
He said Saudi investment has significant potential in logistics and supply chain infrastructure, ranging from cold storage facilities to port development.
Bangladesh is also prioritising investment cooperation in the financial services sector, Chowdhury said, adding that discussions are already underway with several Saudi companies to familiarise them with investment opportunities in the country and facilitate potential investment proposals.