Prime Highlights
- Saudi Arabia said it aims to become a global logistics hub and is looking to expand investment in Bangladesh’s ports and supply-chain networks.
- Ashik Chowdhury said Bangladesh was already engaging multiple Saudi companies to facilitate serious investment conversations beyond this visit.
Key Facts
- Red Sea Gateway Terminal operates the Patenga Container Terminal in Chattogram under a 22-year concession signed with the Chittagong Port Authority in late 2023.
- The concession agreement envisages an investment of $170 million over its term, with more than 98% of the terminal’s employees being Bangladeshi.
Background
Saudi Arabia has shown interest in investing more in Bangladesh’s transport and logistics sectors, especially in ports, maritime infrastructure and supply-chain networks.
A Saudi delegation led by Dr Rumaih Mohammed Al-Rumaih, Deputy Minister of Transport and Logistics of Saudi Arabia, discussed potential investment opportunities with Bangladeshi officials at Biniyog Bhaban in Dhaka this week. Ashik Chowdhury, Executive Chairman of the Bangladesh Investment Development Authority and Chief Executive Officer of the Public Private Partnership Authority, led the Bangladeshi side. Officials from both agencies, along with the Bangladesh Economic Zones Authority, also attended.
Al-Rumaih welcomed Bangladesh’s focus on privatisation and improving the business environment, stating that the approach was consistent with Saudi Arabia’s own economic strategy. He said Saudi Arabia aimed to become a global logistics hub and had identified leading companies as national champions in priority industries. The team offered assistance to Bangladeshi companies looking to enter the Saudi market and indicated interest in investigating other prospects for Saudi enterprises in Bangladesh.
The meeting also touched on the operations of Red Sea Gateway Terminal at the Patenga Container Terminal in Chattogram. Al-Rumaih noted that more than 98% of the company’s employees in Bangladesh were Bangladeshi, adding that the firm was exploring ways to improve terminal operations through technology and greater efficiency. The Chittagong Port Authority had signed a 22-year concession agreement with Red Sea Gateway Terminal International in late 2023 to equip, operate and maintain the terminal, envisaging an investment of $170 million over the concession period.
Chowdhury said discussions covered areas of long-term Saudi interest aligned with Bangladesh’s priorities, particularly logistics and supply chains. No specific new investment commitment or timeline was announced.
