Saudi Arabia and China show plans to invest massively in Bangladesh

BTJ Desk Report
Saudi Arabia and China show plans to invest massively in Bangladesh

Saudi Arabia and China have expressed their interest to make large-scale investments in Bangladesh.

Commerce Minister Tipu Munshi informed this while talking to reporters after the concerned Ministers of Saudi Arabia, China and Bhutan met him at the Bangabandhu International Conference Center (BICC) on the sidelines of the inaugural day of three-day Bangladesh Business Summit – 2023 being held in the capital. Prime Minister Sheikh Hasina inaugurated the Summit today.

The Commerce Minister said that China, Saudi Arabia and Bhutan are friendly nations of Bangladesh.

Terming China as one of the largest trade and economic partner of Bangladesh, Tipu said that the Chinese investors have expressed their interest to invest more in Bangladesh especially in the country’s energy, agro-based industries, food processing and infrastructural development.

“China has expressed its keenness to boost the existing trade and investment,” he added.

The Commerce Minister had the meeting with the vice chairman of the China Council for the Promotion of International Trade Zang Shaongang.

Terming Saudi Arabia also as a friendly country of Bangladesh, the Commerce Minister said that Saudi Arabia has taken a decision to make large-scale investment in the energy sector as well as in Bangladesh’s agro-based industries and food sector.

He said Bhutan also wants to increase trade ties with Bangladesh through addressing the problems in the waterways and in land ports.

Noting that Bangladesh has been moving fast in all socio-economic indicators, Tipu said that the economy of Bangladesh is now stronger than ever. “Knowing all the facts, different countries of the world are now coming forward to boost trade, commerce and investment with Bangladesh,”

He said that Bangladesh is now a lucrative destination for making investment as the work for setting up some 100 special economic zones in various parts of the country is going on swiftly while the work of many of them have already been completed.

Tipu said the government of Bangladesh has been providing many facilities for attracting investment while the formalities in investment have been simplified. “We’ve highlighted these issues before them,” he added.

About his meeting with Minister of Commerce of Saudi Arabia Dr Majid bin Abdullah Al Qasabi, he said that the Saudi Minister have assured him of making large-scale investment especially in the energy, agriculture, and in food sector.

Regarding his meeting with the Bhutanese Minister for Industry, Trade and Labour Karma Dorji, he said that the Bhutanese Minister has informed him that Bhutan is interested to boost trade and commerce with Bangladesh through reopening of the waterways and removing the problems at the land ports.


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