Yunus seeks increased Saudi investment, economic cooperation

Chief Adviser Professor Muhammad Yunus on Monday urged Saudi Arabia to invest more in Bangladesh and enhance energy and economic cooperation to boost ties between the two friendly nations.

The Chief Advisers made the call when Saudi Ambassador to Bangladesh Essa Youssef Essa Al Duhailan paid a courtesy call on him at his office in Tejgaon, Dhaka.

Ambassador Al Duhailan said his country was eager to invest more in Bangladesh and sought support from the office of the Chief Adviser to facilitate proposed Saudi investment in the port and logistics sectors especially in Matarbari Deep Sea Port, and power and renewable energy sectors by Acwa Power.

“This is the time that Saudi Arabia can give the best support to us,” the Chief Adviser told the Saudi envoy, terming the relationship between the two countries “unique” and ” separate” than other countries.

Professor Yunus asked Saudi Arabia to convey his request to Saudi Government for depositing funds in Bangladesh’s central bank to boost liquidity support as part of economic cooperation, saying it will be “a wonderful gesture to the Interim Government”.

He also called for concessional supply of energy and petroleum products, enhanced trade and increased Saudi investment in the training of the Bangladeshi young people so that Dhaka can send more skilled and trained workers to the oil-rich country.

Ambassador Al Duhailan acknowledged the contribution of the Bangladeshi diaspora in Saudi Arabia, saying that gaining more skills would help them earn a better salary and send more remittances back home.

Currently, nearly 3 million Bangladeshis are employed in the kingdom, sending billions of US dollars annually.

Ambassador Al Duhailan said that Saudi Arabia issues on average 5,000 visas to Bangladeshi migrants and Muslim pilgrims daily.

In 2023, about half a million Bangladeshis visited Saudi Arabia to perform umrah hajj, a 37 percent increase from the previous year.

He handed over two letters from the Custodian of Two Holy Mosques King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman congratulating the Chief Adviser on the occasion of Saudi national day, according to the CA’s press wing.

“My government wants to see stability in Bangladesh, and Inshallah is ready to support the Bangladesh government,” said the Saudi Arabian ambassador.

He presented the Chief Adviser a copy of the Holy Quran and a replica of the falcon, the national bird of Saudi Arabia.