Dhaka, Monday, 17 February 2020

Govt sending six investment proposals to Saudi Arabia

Govt sending six investment proposals to Saudi Arabia

Staff Correspondent:Bangladesh is going to send a list of six projects to the Saudi government, including the Dhaka-Barishal-Payra rail link project, in the first phase seeking investment.

The decision came at an inter-ministerial meeting at the National Economic Council with Finance Minister AHM Mustafa Kamal in the chair.

The others are on the Dhaka-Chattogram-Cox’s Bazar rail link, aircraft maintenance and repair facilities in Lalmonirhat, upgradation of state-owned mobile operator Teletalk’s services, and two private funds -- investment support fund and portfolio investment.

In March this year, a high-powered 32-member Saudi business delegation headed by two Saudi ministers visited Bangladesh when the host side sought investment in 17 projects involving $35 billion.

A senior finance ministry official said the proposals for the other projects would also be sent soon.

Majed Bin Abdullah Al-Qasabi, commerce and investment minister, and Mohammed bin Mezyed Altwaijri, economy and planning minister, led the delegation and held talks on March 7 to look for opportunities in different sectors.

The meeting decided to form a joint working committee headed by a senior Saudi minister.

The Saudi government is scheduled to decide on the projects to invest in consultation with this committee.

Bangladesh has already formed two high-powered committees to monitor the progress of proposed Saudi investment. One is headed by the finance minister and the other by Nojibur Rahman, principal secretary to the prime minister.