Saudi-Bangladesh Chamber launches tomorrow to boost trade, investment
300 acres of land have been allocated for Saudi investment in the National Special Economic Zone in Chattogram, says the chamber president
The Saudi Arabia-Bangladesh Chamber of Commerce and Industry (SABCCI) is set to be officially launched through a three-day bilateral business summit beginning tomorrow (6 October).
At a press conference today (5 October) at the City Bank Center in Dhaka, SABCCI President Ashraful Haque Chowdhury said, "For the first time, a formal business platform has been established between Bangladesh and Saudi Arabia. This chamber will take our economic relations to new heights."
He added that 300 acres of land have been allocated for Saudi investment in the National Special Economic Zone in Chattogram.
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He also highlighted opportunities for joint ventures in petrochemicals, green technology, and cybersecurity.
On manpower export, Ashraful Haque noted that nearly three million Bangladeshis work in Saudi Arabia, with growing potential to send skilled workers in healthcare, IT, agriculture, and textiles.
Amid geopolitical instability and global economic uncertainty, the new chamber aims to position Saudi Arabia as a promising market for Bangladesh while strengthening trade and investment ties.
Chamber Vice President Ahmed Yusuf Walid emphasised that the SABCCI's vision goes beyond attracting Saudi investment. "We aim to expand bilateral trade by engaging Bangladeshi entrepreneurs already established in Saudi Arabia," he said.
City Bank Deputy Managing Director Mesbaul Asif Siddiqui said, "Our trade with Saudi Arabia's $1.2 trillion economy remains limited. With proper planning and incentives, this partnership can grow significantly."
A 20-member Saudi delegation, led by Sheikh Omar Abdul Hafiz Amir Baksh, owner of Majd Al Umran Group, will arrive in Dhaka for the launch and summit events.
The summit will include a dinner reception today, followed by a business summit at Hotel Sheraton on 7 October with entrepreneurs and experts from both countries.
Commerce Adviser Sheikh Bashir Uddin will attend as the chief guest, and Bangladesh Bank Governor Ahsan H Mansur will be present as the special guest.
The official inauguration of SABCCI will take place that evening, and the event will end with a press conference at Hotel Sonargaon on the final day.
