Bangladesh, Saudi Arabia sign multiple investment deals during JEC meeting
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Bangladesh and Saudi Arabia have struck numerous initial agreements for investment in the Asian nation.
A 40-member Saudi delegation held several meetings with officials in Dhaka through the 13th session of Bangladesh-Saudi Arabia Joint Commission.
It had been led by Mahir Abdul Rahman Gassim, Saudi Arabia’s deputy minister for international affairs at the Ministry of Labor and Social Development.
Also joining the JEC delegation, which meets every 2 yrs, were seven of the largest companies in the Kingdom, including Saudi Aramco and ACWA Power.
“Today we witness a fresh chapter in this bilateral relationship by agreeing on and signing the Dhaka agreements,” Gassim said in a statement following meeting.
Red Sea Gateway Terminal (RSGT), a respected port developer of the Kingdom, is considering developing Bangladesh’s main Chottogram port which handles a lot more than 80 percent of the country’s trade.
“The RSGT really wants to make the investment in Public Private Partnership (PPP) form. To bring any investment in this mode, we must have an agreement between the two governments,” Rafikul Islam Khan, joint secretary of the Bangladeshi shipping ministry told Arab News.
“As soon as the Saudi government will sign the PPP agreement with Bangladesh, we will progress with RSGT’s investment proposals,” he said.
Chottogram port authority is conducting a feasibility study on how big is investment necessary for further expansion of the port facilities, he added.
“An MoU in addition has been signed between Bangladesh Sugar and Food Industries Corporation (BSFIC) and ACWA power on generating 180 MW Solar power,“
Mir Khairul Alam, joint secretary of Bangladesh Industry Ministry told Arab News.
A proposal for a $1 billion telecommunications infrastructure project led by Teletalk Bangladesh Limited, a state-run mobile operator, was also discussed with Saudi Arabia’s Al-Jomiah Group.
The JEC meeting determined a wide range of areas to improve trade and investment between the two countries.
The 14th session of the JEC will be held in Riyadh, Saudi Arabia.
Source: https://www.arabnews.com
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