Muhith offers economic zone to Saudi investors

The government can create a separate economic zone for Saudi investors, after similar benefits have been offered to China, Japan and India.

Finance Minister AMA Muhith made the offer to Saudi Arabia's Mohammed Al Jadaan and called for investment in Bangladesh on the sidelines of the annual meeting of the Islamic Development Bank (IDB) in Jeddah On 16 May.

The IDB's 42nd Annual Board Meeting was held in Jeddah from 14 May to 18 May and for the first time the Minister of Finance of Bangladesh chaired the meeting. Muhith informed his counterpart of the special economic zones in Bangladesh, some of which are devoted to specific countries such as Japan, South Korea and China, according to a statement by the Ministry of Finance. "Al Jadaan has taken note of this cordially," the statement said.

Muhith recalled the Saudi government's commitment to the creation of 560 mosques and Islamic centers at the district and upazila levels in Bangladesh. He informed the Saudi minister that the project has already been approved by the government.

Yosef Ibrahim Al-Bassam, Vice-President and General Manager of Saudi Fund for Development (SFD), also attended the meeting. Muhith thanked Al-Bassam for proposing short-term financing facilities for Bangladesh.

He stressed the need to extend funding under the five-year programs instead of an annual basis.

Muhith told reporters Sunday at his secretariat that Ahsania Mission will set up a cancer hospital in Bangladesh. The Islamic Trade Financing Corporation, the private sector wing of the IDB, has pledged to donate $ 40 million to the cancer hospital.

On the sidelines of the IDB's annual meeting in Jeddah, Muhith signed a $ 33.3 million deal with IDB President Bandar Bin Hajjar for the agricultural sector and rural development In the Rangpur Division.

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