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Saudi keen to expand investment in BD's transport, logistics sectors
Saudi Arabia has expressed strong interest in expanding its investment footprint in Bangladesh, particularly in transport and logistics, with a special focus on maritime sector development.
The interest was conveyed during a meeting between Saudi Deputy Minister of Transport and Logistics Dr. Rumaih Mohammed Al-Rumaih and his delegation with Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashik Chowdhury at Biniyog Bhaban today, said a press release.
The Bangladesh side was led by Ashik Chowdhury, who also serves as Chief Executive Officer of the Public-Private Partnership (PPP) Authority.
Officials from BIDA, the PPP Authority and the Bangladesh Economic Zones Authority (BEZA) attended the meeting.
During the discussion, the Saudi deputy minister praised Bangladesh's ongoing efforts to promote privatisation and improve the business climate, saying the initiatives are aligned with Saudi Arabia's own economic strategy.
He said Saudi Arabia aims to become a global logistics hub and is keen to create greater opportunities for Saudi companies to invest in Bangladesh, while also supporting Bangladeshi businesses interested in expanding into the Saudi market.
The meeting also discussed the operations of Red Sea Gateway Terminal (RSGT) in Bangladesh, where over 98 percent of employees are Bangladeshis.
The company is exploring further opportunities to modernise terminal operations by introducing advanced technologies and improving operational efficiency.
Both sides underscored the importance of capitalising on the current momentum to advance mutually beneficial projects and deepen bilateral investment cooperation.
Speaking after the meeting, Ashik Chowdhury said discussions focused on sectors where Saudi interest closely matches Bangladesh's development priorities, particularly logistics and supply chain infrastructure, including cold storage facilities and port development.
He added that Bangladesh is also prioritising investment cooperation in financial services and is already engaging with several Saudi companies to showcase investment opportunities and facilitate meaningful investment partnerships, reports BSS.