President for all cooperation to Saudi projects

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DHAKA, Oct 17, 2019 (BSS) – President M Abdul Hamid today assured the visiting Saudi business delegation of providing all necessary cooperation to execute their projects as Bangladesh has a very favourable environment for investment at present.

The head of the state came up with this assurance as a Saudi business delegation, during the courtesy call on him at Bangabhaban here this evening, expressed their keen interest to invest US$ 3 billion in Bangladesh’s power and energy sector.

Later, President’s press secretary Joynal Abedin briefed newsmen after the meeting saying that chairman of ACWA Power of the Kingdom of Saudi Arabia Mohammad Abunyyan led the eight-member high-powered business delegation of two Saudi Arabian companies-AWCA and Aramco Trading.

He said, during the meeting, they apprised the President that they would invest about US$ 3 billion to build an efficient and modern Power Plant and also solar system in Bangladesh.

Abunyyan hoped that this investment would encourage others to invest here in the days to come.

He said Saudi Arabia always considers Bangladesh manpower as a key resource.

Welcoming the delegation, the President said Saudi Arabia and Bangladesh has an excellent relation at present and Bangladesh evaluates the existing good relation with Saudi Arabia as a special one.

Mentioning the recent visit of Prime Minister Sheikh Hasina to Saudi Arabia and the visit of Saudi high-powered delegation to Bangladesh, President Hamid said these visits helped strengthen bilateral relation and investment between the two countries.

Through this exchange of visits between the two countries, the bilateral relation would be expanded gradually and turned into a multilateral one in the days to come.

Other delegation members included VP of Aramco Trading M Abdul Salam Al- Hazmi, AWCA Power CEO Paddy Padmanathan and its Chief Investment Officer Rajit Nanda.

Prime Minister Sheikh Hasina’s Private Industry and Investment advisor Salman F Rahman, Bangladesh Investment Development Authority (BIDA) chairman Sirajul Islam and ambassador of Bangladesh to Saudi Arabia Golam Moshi, secretaries concerned to the President and foreign ministry senior officials, among others, were present.

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