Bangladesh eyes big investment deals as Saudi FM arrives in Dhaka

Saudi Arabian Foreign Minister Prince Faisal bin Farhan is welcomed to Dhaka. (SPA)
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Updated 15 March 2022
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Bangladesh eyes big investment deals as Saudi FM arrives in Dhaka

  • Projects worth billions of dollars to be discussed during visit: Bangladesh Investment Development Authority
  • Major schemes related to energy, aviation, port management, construction sectors

DHAKA: Bangladesh was hopeful of signing a number of major investment deals with Saudi Arabia during a two-day visit to Dhaka by the Kingdom’s Foreign Minister Prince Faisal bin Farhan, officials said on Tuesday.

The prince flew into the Bangladeshi capital on Tuesday afternoon and was scheduled to meet the country’s Prime Minister Sheikh Hasina on Wednesday and lay the foundation stone for the Arabic Language Institute of the Islamic Arabic University in Dhaka.

Sirazul Islam, executive chairman of the Bangladesh Investment Development Authority, said projects worth billions of dollars would be discussed during Prince Faisal’s trip.

“Most of the Saudi Investment proposals are involving the public sector. Further investments from Saudi Arabia will depend mostly on our success of handling the investment proposals in the pipeline,” Islam added.

“At the moment we can’t exactly predict the volume of investment as it depends on the success of discussions. But we hope it will be billions (of dollars) and there will be a whole gamut of discussions.”

The projects are related to oil refineries, gas transmission, fertilizer production, aviation, port management, construction, and hospitality. 

Islam said that among the Saudi companies that had expressed interest in investing in Bangladesh were oil giant Aramco, transformer producer Engineering Dimensions, utility provider ACWA Power, industrial conglomerate Al-Fanar Group, and Al-Hokair Group, one of the largest entertainment and hospitality firms in the Middle East.

The Bangladesh Foreign Ministry’s director general for West Asia, Iqbal Hussain, told Arab News that the Bangladeshi government would be seeking to strengthen its ties with the Kingdom during the prince’s visit.

“We are looking for stronger political and investment ties with the Kingdom as both countries have very good bilateral relationships,” he said, adding that Bangladesh was preparing more than 100 special economic zones for potential investors. “Seeking investment from the Kingdom will be one of our top issues as there is an ongoing campaign to attract more and more foreign investment in the country.”

Dhaka was also hopeful of increasing the number of migrant workers it sends to Saudi Arabia, which is Bangladesh’s main labor market and already hosts more than 2.5 million Bangladeshi expats.

Migrant workers are the second-largest contributor of Bangladesh’s foreign remittances, after the garment sector.

“Saudi Arabia is the largest market for Bangladeshi migrants,” Hussain said. “There is demand for Bangladeshi migrants in the Kingdom and we are ready to export more workers in all skilled and unskilled categories.”


Bangladesh readies for polls, worry among Hasina supporters

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Bangladesh readies for polls, worry among Hasina supporters

  • The Muslim-majority nation of 170 million people will hold elections on February 12, its first since the uprising
  • Hasina was sentenced to death for crimes against humanity in Nov. and her former ruling party has been outlawed

Gopalganj: Bangladesh is preparing for the first election since the overthrow of Sheikh Hasina, but supporters of her banned Awami League (AL) are struggling to decide whether to shift their allegiance.

In Gopalganj, south of the capital Dhaka and a strong bastion of Hasina’s iron-grip rule, residents are grappling with an election without the party that shaped their political lives for decades.

“Sheikh Hasina may have done wrong — she and her friends and allies — but what did the millions of Awami League supporters do?” said tricycle delivery driver Mohammad Shahjahan Fakir, 68, adding that he would not vote.

“Why won’t the ‘boat’ symbol be there on the ballot paper?” he said, referring to AL’s former election icon.

The Muslim-majority nation of 170 million people will hold elections on February 12, its first since the uprising.

Hasina, who crushed opposition parties during her rule, won landslide victories in Gopalganj in every election since 1991.

After a failed attempt to cling to power and a brutal crackdown on protesters, she was ousted as prime minister in August 2024 and fled to India.

She was sentenced to death in absentia for crimes against humanity by a court in Dhaka in November, and her former ruling party, once the country’s most popular, has been outlawed.

Human Rights Watch has condemned the AL ban as “draconian.”

“There’s so much confusion right now,” said Mohammad Shafayet Biswas, 46, a banana and betel leaf seller in Gopalganj.

“A couple of candidates are running from this constituency — I don’t even know who they are.”

As a crowd gathered in the district, one man shouted: “Who is going to the polling centers? We don’t even have our candidates this time.”

‘DEHUMANISE’

Hasina’s father, Sheikh Mujibur Rahman, the founding president of Bangladesh, hailed from Gopalganj and is buried in the town.

Statues of Rahman have been torn down nationwide, but in Gopalganj, murals and statues are well-maintained.

Since Hasina’s downfall, clashes have broken out during campaigning by other parties, including one between police and AL supporters in July 2025, after which authorities filed more than 8,000 cases against residents.

Sazzad Siddiqui, a professor at Dhaka University, believes voter turnout in Gopalganj could be the lowest in the country.

“Many people here are still in denial that Sheikh Hasina did something very wrong,” said Siddiqui, who sat on a government commission formed after the 2025 unrest.

“At the same time, the government has constantly tried to dehumanize them.”

This time, frontrunners include candidates from the Bangladesh Nationalist Party (BNP) and Jamaat-e-Islami, the country’s largest religious party.

Both are from Hasina’s arch-rivals, now eyeing power.

“I am going door to door,” BNP candidate S.M Zilany, 57, told AFP, saying many would-be voters had never had a candidate canvass for their backing.

“I promise them I will stand by them.”

Zilany said he had run twice against Hasina — and was struck down by 34 legal cases he claimed had been politically motivated.

This time, he said that there was “a campaign to discourage voters from turning up.”

Jamaat candidate M.M Rezaul Karim, 53, said that under Hasina, the party had been driven underground.

“People want a change in leadership,” Karim told AFP, saying he was open to all voters, whatever their previous loyalties.

“We believe in coexistence; those involved in crimes should be punished; others must be spared,” Karim said.

Those once loyal to Hasina appear disillusioned. Some say they had abandoned the AL, but remain unsure whom to support.

“I am not going to vote,” said one woman, who asked not to be named.

“Who should I vote for except Hasina? She is like a sister.”