Government Policy

Dhaka, Riyadh eye stronger political, investment ties; Saudi FM due Tuesday

Bangladesh and the Kingdom of Saudi Arabia are keen to strengthen their political and investment relations as Saudi Foreign Minister Prince Faisal Bin Farhan Al Saud will arrive in Dhaka on Tuesday.

Foreign Minister Dr AK Abdul Momen will hold a “tete-a-tete” with his Saudi counterpart at a city hotel on Wednesday morning which will be followed by bilateral “political consultation” between the two countries at the same venue, an official at the Ministry of Foreign Affairs told UNB.

In his less than 24-hour visit at the invitation of Dr Momen, the Saudi Foreign Minister will also meet Prime Minister Sheikh Hasina, the official said.

Ahead of the visit, Saudi Ambassador to Bangladesh Essa Yussef Essa Al Dulaihan said the “dynamic partnership” and long-standing relations between Bangladesh and Saudi Arabia will further flourish and reach to a new height.

Foreign Minister Dr Momen will receive his Saudi counterpart at Hazrat Shahjalal International Airport upon his arrival at around 5pm on Tuesday.

He will host a dinner in honor of the Saudi Foreign Minister at a city hotel the same day.

On Wednesday, the Saudi Foreign Minister and Dr Momen will join the foundation stone laying ceremony of the Arabic Language Institute after the “political consultation” between the two countries.

Prime Minister’s Private Industry and Investment Adviser Salman F Rahman will host lunch in honor of the Saudi Foreign Minister.

The Saudi Foreign Minister is scheduled to leave Dhaka on Wednesday afternoon wrapping up his visit that might see signing of a number of cooperation documents. Foreign Minister Momen will see him off at the airport.

The Saudi government says Bangladesh is a “remarkable country” and appreciates Prime Minister Sheikh Hasina’s leadership, noting that her capacity to make “swift decisions” is keeping the country’s economy on track.

Saudi Ambassador to Bangladesh Essa Yussef Essa Al Dulaihan, during a recent media briefing, shared Saudi investors’ desire to invest “extensively” in Bangladesh.

Engineering Dimensions, a Saudi Arabian Enterprise, has confirmed $1.8 billion investment in Bangladeshi, said the envoy.

Saudi Arabia is mulling establishing a special economic zone and considering scopes to invest in the construction of rail links connecting Dhaka and Payra port, including the development of Cox’s Bazar as an international tourist destination.

The ambassador said Saudi ACWA Power has already announced to invest $ 600 million to build a 700 MW power plant and proposed a total $ 3.5 billion investment in Bangladesh.

He said Saudi Red Sea Gateway Terminal wants to invest $ 1.2 billion in Bangladesh, said the envoy.

Source: United News of Bangladesh