Saudi King Salman bin Abdul Aziz is to visit Bangladesh soon. Although date has not been fixed as yet, a source mentioned that Dhaka will be included in the next tour of Saudi King. The state visit is likely to take place sometime in June.
Bangladesh Prime Minister Sheikh Hasina invited King Salman to Bangladesh during her visit to Saudi Arabia.
During King Salman’s visit Dhaka will seek private investment in Bangladesh. Bangladesh is currently preparing for over USD15billion investment proposal spreading over 17 projects. Investments are likely to be made in the sectors like energy, education, roads and other infrastructures. All the projects will spread over a period of 5 year or less. Co-operation on private sectors of both countries are also being worked on.
According to Vision:2030 comprehensive reform process is going on to change Saudi Arabia’s oil-based economy to trade and investment based economy. Previously Saudi Arabia used to provide grants to Muslim countries. Now, instead, investment support will be given. Riyadh has already taken several legal reforms to make Saudi Arabia a profitable investment destination.
As part of 26 day Asia-tour King Salman is currently in Malaysia on way back from Indonesia. The King will visit Brunei, Japan, China and Maldives in the next lap. The King is accompanied by a large group of Saudi investors. Trade and investment agreements are being signed with various during the tour. However, strategic issue is taking a backseat to economic activities