KSA eyes more investment in BD's transport, logistics

The Kingdom of Saudi Arabia (KSA) has expressed strong interest in expanding investments in Bangladesh's transport, logistics, and maritime sectors, with both countries agreeing to pursue mutually beneficial projects to strengthen bilateral investment cooperation.

The interest was conveyed at a meeting between a Saudi delegation, led by Deputy Minister for Transport and Logistics Services Dr Rumaih Mohammed Al-Rumaih, and officials of the Bangladesh Investment Development Authority (BIDA) at the Investment Building in the capital on Wednesday.

The Bangladesh side was led by BIDA Executive Chairman and Chief Executive Officer of the Public-Private Partnership (PPP) Authority Ashik Chowdhury.

Senior officials from the PPP Authority, BIDA, and the Bangladesh Economic Zones Authority (BEZA) also attended the meeting.

During the discussion, the Saudi deputy minister said Bangladesh's efforts to enhance private sector participation and improve the ease of doing business closely aligned with Saudi Arabia's own development strategy.

He said Saudi Arabia was working to establish itself as a global logistics hub and supporting leading Saudi companies to invest overseas in priority sectors.

Dr Al-Rumaih expressed interest in creating more investment opportunities for Saudi firms in Bangladesh while assuring Bangladeshi companies seeking to expand operations in Saudi Arabia of the necessary support.

The meeting also reviewed the operations of the Red Sea Gateway Terminal (RSGT) at the Patenga Container Terminal of the Chittagong Port.

The Saudi deputy minister said more than 98 per cent of RSGT's workforce in Bangladesh consisted of local employees.

He said the company was exploring opportunities for further investment in Bangladesh's maritime logistics sector by developing skilled human resources, introducing advanced technologies, and enhancing terminal management capacity.

Both sides emphasised the importance of capitalising on the existing positive bilateral relationship to implement commercially viable and mutually beneficial investment projects.

Speaking after the meeting, BIDA's Ashik said the discussions identified several sectors where Saudi investors had shown strong interest and which closely aligned with Bangladesh's development priorities.

"Particularly in logistics and supply chain networks from cold storage facilities to port infrastructure, there is significant scope for Saudi investment," he said.

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