Saudi Arabia eyes USD 1 billion investment in Bangladesh's connectivity, port management

Dhaka: Saudi Arabia has expressed interest in investing USD 1 billion in Bangladesh's connectivity infrastructure and port management, underscoring its growing confidence in the country's investment climate and long-term economic prospects.

The proposal was made on July 15 during a meeting between Prime Minister Tarique Rahman and visiting Saudi Vice Minister of Transport Dr. Rumaih Mohammed Al-Rumaih at the Jatiya Sangsad Bhaban, said a press release from the Ministry of Foreign Affairs.

The Saudi delegation included the Assistant Deputy Minister of the Saudi Investment and Development Authority, the Director General of the Saudi Ministry of Transport, the CEO of Red Sea Gateway Terminal (RSGT), and the Saudi Ambassador to Bangladesh.

Representing Bangladesh at the meeting were the ministers, advisers, and senior officials responsible for shipping, road transport and bridges, railways, foreign affairs, and investment promotion.

Welcoming the delegation, the Prime Minister reaffirmed Bangladesh's commitment to further strengthening economic ties with Saudi Arabia and highlighted the government's ongoing policy reforms aimed at creating a more investment-friendly business environment.

Dr. Al-Rumaih said Bangladesh offers a favorable investment climate and expressed Saudi Arabia's interest in investing in short-, medium-, and long-term projects, particularly in sectors related to transport connectivity and port infrastructure.

The discussions also highlighted Saudi Arabia's growing role in Bangladesh's maritime logistics sector through Red Sea Gateway Terminal Company Limited (RSGT).

RSGT has been operating the Patenga Container Terminal commercially since June 2024. The company has already invested USD 170 million in modern cargo-handling equipment and advanced yard operations to improve the terminal's efficiency and capacity.

Looking ahead, RSGT expressed interest in investing in other government-authorized strategic infrastructure projects and presented a detailed investment roadmap to support Bangladesh's future connectivity and logistics needs.