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Bangladesh has sought Saudi assistance to deal with the dollar crisis

by Afonso
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Bangladesh has sought the help of Saudi Arabia to deal with the ongoing dollar crisis in the country. Prime Minister’s Adviser on Private Industry and Investment Salman F Rahman said this in a press conference at the Bangladesh Investment Development Authority (BIDA) building on Tuesday afternoon.

Earlier, Salman F Rahman returned home after a three-day visit to Saudi Arabia. Salman F. Rahman joined the Islamic Military Counter Terrorism Coalition (IMCTC) as the representative of Bangladesh’s Defense Minister and Prime Minister Sheikh Hasina.

In a press conference about this visit, Salman F. Rahman said, ‘We get 45 days to pay the price of fuel imported from Saudi Arabia. But because of the dollar-crisis, we told them, if we are given a year, it would be better. They said they would consider it.’

Salman F Rahman told the press conference that investors from Saudi Arabia have expressed interest in developing a special economic zone in Patuakhali. He said, ‘We want to give economic zone to Saudi Arabia. Their investment minister has expressed interest in making an economic zone in Pyarat.’

The investment advisor said, ‘We will set up a urea fertilizer factory in Saudi Arabia as a joint venture. We will import 100% of the produced urea. They want to go ahead with the proposal. The feasibility study will be completed by March. Not only government to government, there is also an opportunity for the private sector to join here.’

Referring to IMCTC ‘we have agreed on some issues’, Salman F. Rahman said, ‘Our position is against terrorism in the name of Islam. Terror is terror. Terrorists have no religion. They do this to defame Islam. All agreed to further accelerate the cooperation between Islamic countries through this organization. Everyone has strongly condemned what is happening in Palestine and Gaza and asked for a solution to the problem. Apart from this, they will work to solve the Rohingya crisis in Bangladesh.

Salman F. Rahman said that Chevron wants to make new investments in BBANA, “They say we think there is gas here. But it cannot be confirmed until drilling is done. As a result, we want to make new investments here. They are also interested in deep sea oil and gas exploration. The energy sector is very important in our economic development.

Salman F. Rahman said, Saudi Arabia is interested in investing in food security. Basically they will produce vegetables, fish or any other foodstuff in Bangladesh, they will take it to their country. They will do a feasibility study and see in which areas they can invest in Bangladesh. He said that there was a discussion about the production of long grade rice by researching jointly by the rice research institutes of Bangladesh and Saudi Arabia.


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