Bangladesh expects huge investments from oil-rich Saudi Arabia, with Riyadh deciding to send a 29-member delegation to Dhaka soon for exploring opportunities in public-private partnership (PPP) projects.
Saudi Arabia finds Bangladesh as a top priority country and is interested in a long-term strategic plan where they will contribute to the economic growth of the country, the Public-Private Partnership Authority (PPPA) of Bangladesh said in a press release.
Officials of the Saudi Ministry of Investment will come to Dhaka with 29 investors soon and explore investment opportunities in PPP projects.
The Ministry of Shipping in Bangladesh presented three PPP models -- Chattogram Port Authority, Container Terminal-2 of Payra Port Authority, and Container Terminal-2 of Payra Port Authority.
In fact, at a recent virtual conference, the Authority in Bangladesh and the Saudi Ministry of Investment explored the potentials of PPP projects in this country.
At the conference, Ahmad Kaikaus, Principal Secretary to the Prime Minister, highlighted the close ties between Saudi Arabia and Bangladesh.
"It was a new beginning for Bangladesh and the Kingdom of Saudi Arabia," he said, lauding Riyadh for selecting Bangladesh for investments.
Sultana Afroz, Secretary and Chief Executive Officer of PPP Authority, chaired the programme.
She gave an overview of PPP projects in Bangladesh, the legal framework and incentives provided by the government to attract investments.
Senior officials, under the leadership of Badr Al Badr, CEO, National Companies Promotion Program (NCPP), attended the event, which was witnessed by Essa Yousef Al Duhalian, Ambassador of the Kingdom of Saudi Arabia to Bangladesh.
Al Badr nominated Red Sea Gateway Terminal to undertake Patenga Container Terminal Project (if selected by the Bangladesh authority) and other PPP projects related to seaports in Bangladesh.
A government to government memorandum of understanding between the Ministry of Investment of Saudi Arabia and the PPP Authority, Bangladesh, was signed on 28 October, 2021.