DHAKA, Mar 6, 2019 (BSS) – Executive Chairman of Bangladesh Investment Development Authority (BIDA) Kazi M Aminul Islam today said Saudi Arabia is likely to invest US$ 15 to 20 billion in at least 16 projects in the country.
“The government is expecting $15 billion to $20 billion investment from the Saudi Arabia. This will be finalised tomorrow during a meeting with a Saudi delegation,” he said at a press conference at BIDA headquarters in the city.
A 34-member delegation of Saudi Arabia, led by Commerce and Investment Minister Dr Majed bin Abdullah Al-Qasabi and Economy and Planning Minister Mohammed bin Mezyed Altwaijri, will take part at the dialogue on investment and trade cooperation at the InterContinental Hotel in the city.
The delegation will arrive in the city on Wednesday night on a first-ever visit of Bangladesh’s history to invest in a wide range of sectors from energy to health to aviation.
Aminul Islam said, “We are beginning our collaboration with projects and proposals that attracted attention from both sides. At the same time, we are working on incorporating opportunities from the private sector.”
“We hope that the economic strength of Saudi Arabia and the economic potential of Bangladesh will take our relationship to the next level for the benefit of the people of the brotherly countries,” he added. Among others, Bangladesh Ambassador to Saudi Arabia Golam Moshi attended the press briefing.
The ambassador said the team is the biggest ever delegation of Saudi Arabia in the history of Bangladesh. “Thirty years back, they made a small investment in the Islami Bank,” he added.
As per a BIDA press release, the 34-strong delegation also includes officials representing Saudi Arabia’s Public Investment Fund (PIF), which is worth quarter of a trillion US dollars and headed by Crown Prince Mohammed Bin Salman.