Sunday, 17 October, 2021

KSA keen to invest in Bangladesh

  • Staff Correspondent
  • 23 September, 2021 12:00 AM
  • Print news

Saudi Arabia has shown its keen interest to invest in potential sectors of Bangladesh.

Saudi Public Investment Fund Deputy Governor Yazeed al-Hamid met with Salman F Rahman, the visiting Private Industry and Investment Advisor to the Prime Minister, in Riyadh recently.

The deputy governor said that Saudi Public Investment Fund (PIF) can invest in Bangladesh under Business to Business (B2B) or Business to Government (B2G) models.

During the bilateral meeting, Yazeed al-Hamid shared the ideas on PIF's management methods and plans to achieve new management and objectives from 2016. Advisor Salman F Rahman also described the reformed models of foreign investment in Bangladesh.

Highlighting the details of the various mega projects in Bangladesh, Salman F Rahman said that Bangladesh is considered an ideal place for foreign investment now.

The advisor said that the Viability Gap Funding (VGF) idea conceived by the Prime Minister Sheikh Hasina will make foreign investment in Bangladesh profitable and secure.

Replying the request of Salman F Rahman for funding on construction of Dhaka-Payra Port Railway, the deputy governor

said that if a formal request is received in this regard from Bangladesh, it will be considered.

Advisor Salman F Rahman told PIF deputy governor that Bangladesh will take any Saudi company as priority basis in the ground of investment.

The Saudi Public Investment Fund is the sovereign wealth fund of Saudi Arabia with an estimated amount of about $ 450 billion, which is set to reach $1 trillion by 2025.

PIF has invested in various sectors including the service sector, renewable energy, aircraft and defense, vehicles, transport, mining and mining, financial services, health, communications, media and technology, food and agriculture, and others 13 strategic sectors to implement Saudi Arabia's Vision 2030. Bangladesh Ambassador to Saudi Arabia Mohammad Javed Patwari BPM (Bar) was present at the meeting.

Executive Chairman of Bangladesh Investment Development Authority (BIDA) Md Sirazul Islam, Chief Executive Officer of Bangladesh Public Private Partnership Authority (PPPA) Sultana Afroz and embassy officials were present.