Hasina urges businessmen in Saudi Arabia to invest in Bangladesh
Hossen Sohel od DOT
Prime Minister Sheikh Hasina urged the businessmen in Saudi Arabia to invest in Bangladesh, terming a thriving centre of regional connection, foreign investment and global outsourcing, reports bdnews24.com.
She made the remarks during a meeting with the business community in Riyadh yesterday.
Leaders of the Saudi Chamber Council, Riyadh Chamber of Commerce and members of the local Bangladesh business community were present at the meeting held at the King Saud Palace in Riyadh.
The prime minister focused on the business opportunities offered by Bangladesh in her speech.
She called the bilateral relationship between Bangladesh and Saudi Arabia as ‘excellent’ and said it was based on common faith, culture, values and aspirations.
“Both countries have reached increasing level of bilateral trade in recent years crossing the $1 billion mark in the 2017-18 fiscal year. But, we are far behind in taking advantage of the full potential of trade and investment opportunities,” she said.
Saudi Arabia has currently invested $5 billion in 25 projects in Bangladesh, she said, adding that the investments primarily focus on agro-based industry, food and processed food, textiles and garments, leather, petro-chemical, engineering and service sector products.
Hasina touted Bangladesh becoming eligible to graduate from the LDC group to a developing country in March 2018, adding that she hoped it would become a developing country by 2021 and a developed country by 2041.
Bangladesh is now among the top-10 fastest-growing economies of the world, said Sheikh Hasina and said expected the country to reach 8.25 percent GDP growth next year.
The foreign currency reserve has grown over ninefold from 2008-2009, up to $3 billion in 2018, she said.
The prime minister also focused on developments in the information technology sector.