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Bangladesh expects to get billions of dollars of investments from Saudi Arabia in energy, aviation and healthcare sectors as both sides open talks today (Thursday).
The 34-member delegation led by two Saudi ministers will spend the day in the capital when investment deals and memorandums of understanding (MoUs) are expected to be signed.
This was disclosed at a press conference organised by the state-run Bangladesh Investment Development Authority (BIDA) at its headquarters in the city on Wednesday.
"We expect to receive an estimated investment of $15-20 billion from the Gulf country," said BIDA executive chairman Kazi M Aminul Islam.
The delegation is likely to ink deals, sign MoUs and discuss at least 16 projects of various government ministries and state-owned enterprises.
"We've started collaborating on projects and proposals in which both sides have interest," he said, adding: "At the same time, we will be working on utilising the potentials of the private sector."
Saudi Commerce and Investment Minister Dr Majed Bin Abdullah Al Kassabi, and Economy and Planning Minister Mohammad Bin Mazyad Al-Twaijiri will lead the Saudi delegation.
According to sources, the delegates will include 17 representatives each from the Saudi government and the private sector.
Representatives of Saudi Aramco, one of the largest oil companies in the world by revenue, will also discuss investment scope.
"Bangladesh is drawing attention from giant global companies, thanks to the country's excellent geographical location," Mr Islam said.
Bangladesh ambassador to Saudi Arabia Golam Moshi also attended the BIDA briefing.
Mr Moshi said this is the most high-profile Saudi Arabian business delegation in Bangladesh's history.
"This has been the successful outcome of Bangladeshi Prime Minister's several visits to the oil-rich country in the last three years," he said.
He said among the proposed deals there are the manufacturing of electricity distribution equipment and a solar power plant in Feni.
The aircraft repair, maintenance and an aviation technical institute will be established in Lalmonirhat, a BIDA official said.
Another Saudi company is expected to establish two medical technology training institutes in collaboration with the Bureau of Manpower Employment and Training (BMET) to create skilled manpower, Mr Moshi said.
Around 4,000 skilled medical technologists affiliated with the institutions will be recruited in Saudi and other Middle Eastern counties every year, he added.