Bangladesh seeks Saudi assistance to combat dollar crisis

Salman F Rahman, Private Industry and Investment advisor to the prime minister of Bangladesh, sought assistance from the Saudi Arabian government to address the ongoing dollar crisis in Bangladesh during his three-day visit to Saudi Arabia

"We had a 45-day period for paying the price of imported liquefied petroleum gas (LPG) from Saudi Arabia. But due to the dollar crisis, we have told them that it would be better for us if they give us one year, " he said during a press briefing at the Bangladesh Investment Development Authority (BIDA) building on Tuesday (6 February).

Salman F Rahman said, "They have said they will consider it."

Stating that Saudi Arabia has shown keen interest in establishing a special economic zone in Payra port area of Bangladesh, he said, "We want to let Saudi Arabia build an economic zone in Bangladesh. Their investment minister has also expressed the same."

"Also, we want to establish a urea fertiliser factory in Saudi Arabia through a joint venture. We will import 100% of the produced urea. They want to go forward with the proposal," he said.

Salman F Rahman said that by March, the feasibility test of this project will be completed.

"Not only government to government but there is also an opportunity for the private sector to be involved," he added.

Referring to the  Islamic Military Counterterrorism Coalition (IMCTC) meeting, Salman F Rahman said, "We have agreed on some issues in the meeting. Our position is against terrorism in the name of Islam. Terrorism is terrorism. Terrorists have no religion. All they do is defame Islam. 

Participants in the meeting have agreed to strengthen collaboration among Islamic nations through this organisation.

Additionally, there has been strong condemnation of the ongoing situation in Palestine and Gaza, urging all countries to unite in resolving the issue.

They have also reiterated their commitment to collaborative efforts in resolving the Rohingya crisis in Bangladesh, he further added.

Furthermore, he highlighted Saudi Arabia's interest in investing in new sectors in Chevron Bibiyana to explore the gas and oil resources.

"They are saying that there is gas here. But it is not certain until drilling is done. They want to invest here. They are also interested in exploring oil and gas in deep sea," he said.

Private Industry and Investment to the Prime Minister said that for the progress of Bangladesh's economy, the gas sector is very important.

Regarding food security, Salman F Rahman said, "They will check the feasibility and see if investment is possible in Bangladesh."

"Basically, they will produce vegetables, fish, or any other food item in Bangladesh, and take it to their country," he added.

Additionally, Rahman represented Defense Minister and Prime Minister Sheikh Hasina at the IMCTC meeting, where coordinated actions against terrorism were discussed. 

Meetings were also held with Saudi Arabia's Minister of Energy, Investment Minister, and Minister of Industry regarding investment opportunities in Saudi Arabia.