Saudi Arabia, China keen to invest in Bangladesh's energy sector: Tipu Munshi

Saudi Arabia and China have expressed their eagerness to make major investments in various sectors of Bangladesh including energy, said Commerce Minister Tipu Munshi on Saturday.

"The development of Bangladesh is now visible. Bangladesh's economy is stronger than ever. Knowing everything, different countries of the world are coming forward to increase trade and investment with Bangladesh," the minister told reporters after holding separate meetings with the commerce ministers of Saudi Arabia, China and Bhutan who are attending the ongoing Bangladesh Business Summit at the Bangabandhu International Conference Centre in Dhaka.

During his meeting with Tipu Munshi, Saudi Commerce Minister Majid bin Abdullah Al-Kasabi said that Saudi Arabia has decided to invest heavily in Bangladesh.

"The decision to invest in the energy sector is final. Besides, there are investment opportunities in the agriculture and food sectors of Bangladesh. Investors from Saudi Arabia will invest in Bangladesh by considering all aspects," he said.

China eyes to boost investment in Bangladesh

Mentioning that Bangladesh is China's fourth largest trade partner, China Council for the Promotion of International Trade Vice Chairman Zhang Shaogang said, "There are opportunities for increasing investment in Bangladesh's energy, agriculture, food processing and infrastructure sectors. Chinese investors are keen to invest more in these sectors."

Bhutan's Industry, Commerce and Employment Minister Karma Dorji said that Bhutan is interested in increasing trade with Bangladesh. For this reason, he called for making the waterways of both countries operational and eliminating all the obstacles regarding bilateral trade.

Tipu said, "Bangladesh is now very profitable for investment. Under the direction of Prime Minister Sheikh Hasina, the work of building 100 Special Economic Zones in various attractive places of the country is progressing rapidly; the work of several has already been completed."

"Various countries of the world as well as the local companies have come forward to invest here, as there are huge investment opportunities. The government is providing several facilities for investment and eased investment formalities. I have presented these issues to them. Saudi Arabia and China have expressed major investment interests in Bangladesh."

Earlier, the commerce minister addressed the inaugural event of the three-day Bangladesh Business Summit 2023 organised on the occasion of The Federation of Bangladesh Chambers of Commerce and Industry's 50th anniversary. Prime Minister Sheikh Hasina inaugurated the summit as the chief guest.