a year ago

Saudi businesses keen to invest in Bangladesh

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The businesses of Saudi Arabia is very much interested to invest in Bangladesh as a high-profile delegation of the Kingdom, led by Minister of Commerce of Saudi Arabia Majed Bin Abdullah Alkassabi, would take part in the Bangladesh Business Summit in March next.

The Ambassador of Saudi Arabia to Bangladesh Issa bin Youssef Al-Dahilan said this when he met Commerce Minister Tipu Munshi at his secretariat office in Dhaka on Thursday.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will organise the Bangladesh Business Summit 2023 in March, reports BSS.

Terming Saudi Arabia as a friendly nation of Bangladesh, the Saudi Ambassador said that his country attaches higher priority to its relations with Bangladesh in the areas of investment and bilateral trade.

Youssef said that the Saudi delegation would take part in the Bangladesh Business Summit to invest.

In response, the commerce minister said that Saudi Arabia is a big and long-standing development partner of Bangladesh while Bangladeshi RMG, bakery items, vegetables, juice, and jute-made goods are being exported to Saudi Arabia.

Besides, he said Bangladesh imports petroleum oil, petroleum gas, fertiliser, dates and other products from the Kingdom.

Tipu informed that in the last fiscal year (FY22), Bangladesh exported goods worth $290.64 million to Saudi Arabia against imports of $1,693.26 million.

Mentioning that some 100 special economic zones are being set up in the country following the directives of Prime Minister Sheikh Hasina, he said that Saudi investors would be benefited if they invest in those economic zones.

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