Bangladesh and the Kingdom of Saudi Arabia enter into an epoch-making new area of investment in Bangladesh. The 1st Bangladesh-KSA Joint PPP Platform Meeting jointly organized a virtual conference between the Public Private Partnership Authority (PPPA) and the Ministry of Investment of the Kingdom of Saudi Arabia on Thursday , 24th February 2022 to explore potential PPP projects in Bangladesh.
Dr. Ahmad Kaikaus, Principal Secretary to the Honourable Prime Minister, highlighted the close ties between Saudi Arabia and Bangladesh. In his speech as the Chief Guest, Dr. Ahmed Kaikuas stated that it was a new beginning for Bangladesh and the Kingdom of Saudi Arabia. He greeted the Kingdom of Saudi Arabia for selecting Bangladesh for investment. According to him, there exists a close spiritual ties between the two countries. KSA hosts the highest migrant workers and hundredsas thousands of Bangladeshi Muslims visit Makkah and Medina every year.
Ms. Sultana Afroz, Secretary and Chief Executive Officer of PPP Authority, chaired the program. She gave an overview of PPP projects in Bangladesh, the legal framework and incentives provided by the government to attract PPP projects.
A Government to Government (G2G) Memorandum of Understanding between the Ministry of Investment of Saudi Arabia and the PPP Authority, Bangladesh was signed on 28 October 2021
High-level Saudi Officials under the leadership of Mr. BadrAlBadr, CEO, National Companies Promotion Program -NCPP, participated in the meeting. H.E. Essa Yousef Al Duhalian, Ambassador of the Kingdom of Saudi Arabia Mr. Faisal Alshalawi, Head of Investment Opportunities Development, NCPP graced the meeting with his presence. Representatives from concerned ministries, senior government officials, private investors, representatives of financial institutions and PPPA participated in the meeting.
Mr. BadrAlBadre nominated Red Sea Gateway Terminal to undertake Patenga Container Terminal Project (if selected by the Bangladesh Authority) any other PPP projects related to sea ports in Bangladesh. KSA said that Bangladesh is a top priority for KSA. Saudi Arabia is interested in a long-term strategic plan where they will contribute to the economic growth of the country. The Ministry of Investment of KSA will come to Dhaka with 29 investors and explore investment opportunities in PPP projects.
The Ministry of Shipping of Bangladesh presented three PPP projects:
1. 1. Equip, Operate and Maintenance of Patenga Container Terminal (PCT) on PPP model-Chattragram Port Authority
2. 2. Build, Operate and Transfer (BOT) Container Terminal-1 of Payra Port Authority.
3. 3. Build, Operate and Transfer (BOT) Container Terminal-2 of Payra Port Authority.
It was decided that there needs to be a time frame for identifying PPP projects along with competent investors then a timeframe is required for each project to execute the project plan. Ms. Sultana Afroz in her closing speech thanked the distinguished guests and participants for their active participation. She also expressed her confidence that with the support of the Governments of Bangladesh and Saudi Arabia PPP Authority would be able to successfully accelerate the implementation of many PPP projects through G2G modality.
