Saudi Arabia's Enhanced Business Ties with Bangladesh


DuringDuring a gathering of the Saudi Bangladesh Business Council, held at a hotel in the capital and hosted by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Saudi entrepreneurs expressed a strong interest in fortifying these alliances. The meeting, graced by Saudi Investment Minister Khalid A Al-Falih as the chief guest, underscored the close bond between the two nations. Minister Al-Falih highlighted that although trade relations between Bangladesh and Saudi Arabia have been confined to specific sectors, it is an opportune time to explore avenues that foster mutually advantageous trade. He pledged ongoing Saudi support to Bangladesh in the days ahead.

Salman F Rahman, the Prime Minister’s Advisor on Industry and Investment, encouraged Saudi entrepreneurs to invest in Bangladesh, highlighting the substantial trade prospects existing between the two nations. He pledged complete government support for businesses from both sides to capitalize on these opportunities and advocated for the continuous export of skilled labor from Bangladesh. FBCCI President Mahbubul Alam, in his address, emphasized the strong bilateral ties rooted in shared Islamic traditions, culture, and mutual esteem. He highlighted Bangladesh's impressive economic growth trajectory, foreseeing it to become a trillion-dollar economy by 2040.

Mahbubul Alam extended an invitation to Saudi investors to explore prospects within Special Economic Zones (SEZs), specifically mentioning the allocation of 300 acres of land in Bangabandhu Sheikh Mujib Shilpa Nagar for establishing a Saudi Arabia SEZ. He urged prompt action for implementing the SEZ and encouraged investments in other SEZs across diverse districts. Additionally, Mahbubul Alam noted the high demand for skilled labor in Saudi Arabia, aligning with the country's Vision 2030. He appealed to the Saudi government to leverage Bangladesh's capable young workforce by offering job opportunities in the Kingdom.

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