PM asks Saudis to tap BD investment opportunities

RIYADH, Oct 17 (Agencies): Bangladesh and Saudi Arabia on Wednesday signed five Memorandums of Understanding (MoUs) to enhance cooperation in chemical, steel and solar power sectors between the two countries.

The MoUs were inked after the meeting of Prime Minister Sheikh Hasina with the Saudi business community, including leaders of the Council of Saudi Chamber and Riyadh Chamber of Commerce, at King Saud Palace here.

The deals are an MoU on Concerning Principles of Cooperation between Bangladesh Chemical Industries and Engineering Dimension of Saudi Arabia; an MoU on Construction Cooperation between Bangladesh Chemical Industries Corporation and Hanwah Engineering of Saudi Arabia; an MoU between Bangladesh Steel & Engineering Corporation (BSEC) and Engineering Dimension of Saudi Arabia; an MoU between Industries Ministry of Bangladesh and Alfanar Company of Saudi Arabia on development of solar power project in Bangladesh; and an MoU between Bangladesh Economic Zones Authority (BEPZA) and Al Bawany Co Ltd of Saudi Arabia.

PMO Secretary Sajjadul Hassan signed all the agreements on behalf of Bangladesh.

Prime Minister Sheikh Hasina on Wednesday had a meeting with Saudi King Salman bin Abdulaziz Al Saud at his royal palace here.

Hasina's meeting with Salman, also the custodian of two holy mosques, started at 1:30pm. It was followed by lunch.

According to earlier reports, Hasina urged businessmen in Saudi Arabia to invest in Bangladesh.

She called Bangladesh a thriving centre of regional connection, foreign investment and global outsourcing.

Hasina made the remarks during a meeting with the business community in Riyadh on Wednesday morning.

Leaders of the Saudi Chamber Council, Riyadh Chamber of Commerce and members of the local Bangladesh business community were present at the meeting held at the King Saud Palace in Riyadh.

She called the bilateral relationship between Bangladesh and Saudi Arabia 'excellent' and said it was based on common faith, culture, values and aspirations.

"We can join hands in our journey of shared profit and prosperity. I assure you of my government's full support and cooperation," she said.

Sheikh Hasina said Bangladesh was implementing 10 growth and employment-generating mega projects as it is ready to take up more projects in diversified areas of infrastructure, connectivity and high-tech, tourism, health and education for a sustainable double-digit growth.

"We welcome Saudi entrepreneurs to invest in our emerging sectors like capital market, power, energy, telecommunications and IT, petrochemicals, pharmaceuticals, shipbuilding, agro-processing, light engineering, blue economy, R&D and technology innovation, water and marine and other infrastructure projects, and services sectors like, banking and finance, logistics, and human resource development," Hasina said.