Bangladesh and Saudi Arabia have signed a memorandum of understanding (MoU) on Public-Private Partnership (PPP) to increase Saudi investment in Bangladesh.
Saudi Arabia's Minister of Investment Khalid A Al-Falih and Prime Minister's Private Industry and Investment Adviser Salman F Rahman signed the MoU on behalf of their respective countries at King Abdul Aziz International Conference Centre in Riyadh on Thursday morning.
Bangladesh's Ambassador to Saudi Arabia Dr Mohammad Javed Patwary, BPM (Bar), was present at the signing ceremony.
Salman F Rahman said, "The MoU will boost Saudi investment in various sectors of our country, including infrastructure, medicine and tourism."
Noting that Bangladesh has an investment-friendly environment, he urged Saudi businesspersons to invest in the country.
The adviser said, "With the dynamic leadership and timely planning of the Prime Minister, necessary reforms have been made in the field of foreign investment in Bangladesh."
"Today, Bangladesh is considered as an ideal place for foreign investment," he added.
He further said if any Saudi company, interested in investing in Bangladesh, seeks priority assistance, all possible cooperation will be provided.
Earlier on 19 September, during a meeting with Khalid A Al-Falih, the advisor requested the signing of an MoU on PPP to increase investment in Bangladesh. The Saudi minister assured to take immediate measures to sign the MoU in this regard on that occasion.