Saudi Arabia eyes major investments in Bangladesh's logistics and port sectors

Saudi Arabia has signalled a strong interest in expanding investments in Bangladesh's transport, logistics and maritime sectors, with both countries pledging to accelerate mutually beneficial projects aimed at deepening bilateral economic cooperation.

The commitment emerged during a high-level meeting between the Bangladesh Investment Development Authority (BIDA) and a Saudi delegation led by Dr Rumaih Mohammed Al-Rumaih, Vice Minister of Transport and Logistics Services, at BIDA headquarters in Dhaka on Wednesday.

The Bangladesh side was headed by BIDA Executive Chairman and Public-Private Partnership (PPP) Authority Chief Executive Officer Ashik Chowdhury. Senior officials from the PPP Authority, BIDA and the Bangladesh Economic Zones Authority (BEZA) also attended the meeting.

During the talks, the Saudi vice minister said Bangladesh's efforts to boost private sector participation and improve the ease of doing business closely complement Saudi Arabia's own economic transformation agenda under its drive to become a global logistics hub.

He said Riyadh is encouraging leading Saudi companies to expand overseas investments in strategic sectors and expressed keen interest in creating new opportunities for Saudi businesses in Bangladesh. He also assured full support for Bangladeshi companies seeking to expand their footprint in the Saudi market.

The discussions also focused on the operations of Red Sea Gateway Terminal (RSGT) at the Patenga Container Terminal in Chattogram Port, one of Saudi Arabia's flagship investments in Bangladesh's maritime sector.

The Saudi delegation noted that more than 98 per cent of RSGT's workforce comprises Bangladeshi employees, underscoring the project's contribution to local employment. The company is now exploring additional investments in Bangladesh's maritime logistics industry through workforce development, the adoption of advanced technologies and enhanced terminal management systems.

Both sides agreed to build on the strong bilateral relationship by pursuing investment projects that deliver long-term economic benefits for both countries.

Speaking after the meeting, Ashik Chowdhury said several sectors discussed during the talks are closely aligned with Bangladesh's development priorities and have generated strong interest among Saudi investors.

"There is enormous scope for Saudi investment in logistics and supply chain infrastructure, particularly in cold-chain facilities, warehousing, port development and related services," he said.

He added that Bangladesh is also seeking deeper investment partnerships in the financial services sector.
"We are already engaging with several Saudi financial institutions to showcase Bangladesh's growing investment opportunities and facilitate meaningful investment discussions," Ashik Chowdhury said.