Saudi Arabia is likely to invest $15 billion to $20 billion in at least 16 projects, says Kazi M Aminul Islam, executive chairman of Bangladesh Investment Development Authority (BIDA).
Speaking at a media call on Wednesday (Mar 6), he said a 34-member Saudi delegation is travelling to Dhaka, reports BSS.
“The government is expecting $15 billion to $20 billion investment, which will be finalised Thursday during a meeting with the delegation,” it quoted him.
“We are beginning our collaboration with projects and proposals that attracted attention from both sides. At the same time, we are working on incorporating opportunities from the private sector,” Islam was quoted by the state news agency.
Bangladesh Ambassador to Saudi Arabia Golam Moshi also attended the media briefing.
He said this will be the biggest ever delegation of Saudi Arabia in the history of Bangladesh.
“Thirty years back they made a small investment in the Islami Bank,” the BSS report quoted Moshi.
Saudi Minister of Commerce and Investment Majed bin Abdullah Al-Qasabi and Minister of Economy and Planning Mohammed bin Mezyed Altwaijri will lead the delegation, reported bdnews24.com.

Half of the members of the delegation are from private sector companies such as Saudi Aramco, one of the world’s biggest oil companies, it said.

The delegation also includes officials representing Saudi Arabia’s Public Investment Fund which is worth a quarter of a trillion US dollars and headed by Crown Prince Mohammed Bin Salman, says the online newspaper’s report.

They will also join a dialogue on investment and trade cooperation with representatives of Bangladeshi ministries and state-owned enterprises at Dhaka’s Intercontinental Hotel.

Bangladesh is expecting investments in energy sector, oil refinery storage, electrical equipment, solar, health, and aircraft maintenance and repair, among others.