Muhith seeks Saudi investments in SEZs

Finance Minister AMA Muhith sought Saudi investment in Bangladesh Special Economic Zones (SEZs), saying that such investments would significantly accelerate the trade opportunities between the two countries bonded by the spirit of brotherhood.

He made the request when he held a meeting with Finance Minister of the Kingdom of Saudi Arabia (KSA) Mohammed Al Jadaan in Jeddah during his recent visit, said a finance ministry media release today.

Muhith who is also chairman of the IDB (Islamic Development Bank) Board of Governors attended the 42nd Annual Meeting of IDB Board of Governors held in Jeddah during May 14-18.

The finance minister informed his Saudi counterpart about the establishment of Special Economic Zones in Bangladesh, some of which are dedicated to specific countries such as Japan, South Korea and China.

Muhith recalled with great satisfaction the commitment of the Saudi government regarding the financing of establishment of 560 masques and Islamic centres in district and upazila level of Bangladesh.

He informed the Saudi finance minister that the project has been already approved in the ECNEC and the government is intensively working on the further activities.

Yosef Ibrahim Al-Bassam, Vice Chairman and Managing Director of Saudi Fund for Development, was also present in the meeting.

Muhith thanked the SFD Vice Chairman for coming forward with short term trade financing facilities for Bangladesh for which Bangladesh had been dependent of ITFC. He emphasized the need for extending the financing facilities under the umbrella of five year programs instead of annual programs.

He also thanked SFD Vice Chairman for signing the Draft loan Agreement of Establishment of Burn and Plastic Surgery Units Project during last month.

The SFD Vice Chairman expressed his hope that the final agreement can be signed by the end of July 2017.

Muhith expressed his appreciation to the Saudi Fund for funding the Construction of Mogbazar-Mouchak Flyover Project which is expected to reduce the traffic congestion considerably. He also requested to expedite the disbursement of National Cancer Research Institute & Hospital and National Eye Institute & Hospital Projects.

SFD Vice Chairman in response gave assurance of his highest consideration in this regard.

Muhith also held meeting with Dr. Bandar Bin Hajjar, President of IDB. He also held meeting Eng. Hani Salem Sonbol, Chief Executive Officer International Islamic Trace Finance Cooperation (ITFC) and

Khaled Al-Aboodi, CEO and General Manager of Islamic Cooperation for the Development of Private Serctor (ICD).

Source: BSS