Saudi Arabia indicators pastime in Bangladesh’s logistics, port infrastructure
Saudi Arabia has expressed pastime in increasing funding in Bangladesh’s shipping and logistics sectors, specifically in ports, maritime infrastructure and supply-chain networks, as the 2 nations search to give a boost to financial cooperation.
The pastime was once conveyed all through a gathering at Biniyog Bhaban in Dhaka lately (15 July) between a Saudi delegation led by means of Dr Rumaih Mohammed Al-Rumaih, deputy minister of shipping and logistics, and Bangladeshi officers led by means of Ashik Chowdhury, government chairman of the Bangladesh Funding Construction Authority (Bida) and leader government officer of the Public-Non-public Partnership Authority.
Al-Rumaih stated Bangladesh’s efforts to extend personal sector participation and reinforce the industry local weather align with Saudi Arabia’s building technique. He famous that the Kingdom goals to turn out to be a world logistics hub and is encouraging main Saudi corporations to extend in another country.
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He stated Saudi companies are all in favour of exploring new funding alternatives in Bangladesh, whilst Saudi government also are prepared to fortify Bangladeshi corporations searching for to extend into the Kingdom.
The assembly additionally reviewed the operations of Pink Sea Gateway Terminal (RSGT) at Chattogram’s Patenga Container Terminal. Al-Rumaih stated greater than 98% of the corporate’s personnel in Bangladesh is native and highlighted alternatives to additional modernise the rustic’s maritime logistics sector via era adoption, talents building and stepped forward terminal operations.
The Chittagong Port Authority signed a 22-year concession settlement with RSGT in December 2023 to equip, function and care for the Patenga Container Terminal, with the corporate anticipated to take a position $170 million over the concession length.
Ashik Chowdhury stated the discussions centred on sectors the place Saudi Arabia’s long-term funding pursuits align with Bangladesh’s priorities, specifically logistics and supply-chain networks from chilly garage to ports, in addition to monetary services and products.
He added that Bida is already attractive with a number of Saudi corporations to exhibit funding alternatives in Bangladesh.
No new funding commitments, mission agreements or implementation timelines had been introduced after the assembly.
