Saudi Arabia plans to invest in Bangladesh

Bangladesh and Saudi Arabia plan to work together on education cooperation, investment in setting up smart cities and artificial intelligence, robotics, semiconductor and nanotechnology. At the same time, Saudi Post will also be associated with the Bangladesh Post-office along with increasing the import of broadband internet from Bangladesh.

The decision was made during a courtesy call between Saudi Arabia's Ambassador to Bangladesh Essa Yousef Alduhailan and State Minister for Telecom and ICT Zunaid Ahmed Palak at the Bangladesh Secretariat on Wednesday (February 7).

Appreciating the progress of Bangladesh in the ICT sector in the meeting, Ambassador Essa Yousef Alduhailan said that Saudi Arabia always cooperates in the development of Bangladesh. It will remain the same in the future. Taking advantage of Bangladesh's investment-friendly policy, Saudi Arabia will play a greater role in the development of telecommunication, information technology and postal services.

Regarding the meeting, the State Minister for Posts, Telecommunications and ICT Zunaid Ahmed Palak said that, Saudi Arabia is a true friend and one of the development partners of Bangladesh. Further increase in the volume of BTCL's voice call exchange with Saudi Telecom, increase in the bandwidth export of submarine cable from Bangladesh to Saudi Arabia, promotion of postal service to a new level through joint venture between Saudi Post and Postal Department of Bangladesh and development of telecom and ICT sector including increase in export of ICT products. Various issues were discussed.

Saudi Arabia currently imports 650 Gbps internet bandwidth from Bangladesh. At the same time, Bangladesh is also exporting various information technology products including IoT to the country.