Saudi Arabia expects the next five years to mark a “transformative phase” in its economic relationship with Bangladesh, with both countries seeking to move beyond their traditional manpower-based partnership toward strategic investments, industrial cooperation and technology transfer, according to Saudi Ambassador to Bangladesh Dr Abdullah Zafer H bin Abiyah.
In an exclusive interview with UNB, the ambassador said Bangladesh has emerged as one of South Asia’s most attractive investment destinations and identified energy, infrastructure, healthcare, pharmaceuticals, technology, logistics and food security as key sectors for expanded Saudi investment.
“We expect greater emphasis on strategic investments, industrial partnerships and technology transfer,” he said, noting that recent energy and financing initiatives have demonstrated the potential for deeper economic engagement between the two countries.
The ambassador said Saudi Arabia wants economic cooperation to match the strength of the longstanding political and people-to-people ties between the two nations.
“Bangladesh offers one of the most dynamic investment destinations in South Asia, with a market of more than 170 million people and a strategic location connecting South and Southeast Asia,” he said.
While labour migration and energy trade have historically dominated bilateral relations, Saudi Arabia is now looking at a much broader partnership encompassing petrochemicals, oil refining, renewable energy, special economic zones, agriculture, food processing, information technology, healthcare and infrastructure development.
The remarks come as both countries seek to strengthen economic cooperation under Saudi Arabia’s Vision 2030 agenda and Bangladesh’s own development ambitions.
The ambassador said Vision 2030 is creating new opportunities for Bangladeshi workers beyond traditional sectors, particularly in information technology, healthcare, tourism, logistics, renewable energy, manufacturing and infrastructure development.
He noted that around three million Bangladeshis currently live and work in Saudi Arabia, making the Kingdom the largest overseas destination for Bangladeshi workers and one of the country’s biggest sources of remittances.
According to Bangladesh Bank data, remittance inflows from Saudi Arabia exceeded $2.7 billion during the last fiscal year.
The ambassador said both governments are working to reduce migration costs, improve skills certification and ensure workers are better prepared before entering the Saudi labour market.
“Our objective is to significantly reduce migration costs, enhance skills certification and ensure workers arrive in the Kingdom fully informed about their rights and responsibilities,” he said.
On broader bilateral relations, the envoy described Bangladesh and Saudi Arabia as “exceptional partners” whose relationship has evolved into a strategic partnership covering trade, investment, energy, education and multilateral diplomacy.
Looking ahead, he identified investment promotion, energy cooperation, food security, logistics, digital economy, healthcare, tourism and human resource development as priority areas for future collaboration.
The ambassador also reiterated Saudi Arabia’s support for resolving the Rohingya crisis, saying a lasting solution requires the safe, voluntary and dignified repatriation of Rohingyas to Myanmar.
He said Saudi Arabia would continue supporting international humanitarian and diplomatic efforts while working with Bangladesh and other partners to keep global attention focused on one of the world’s largest displacement crises.
The envoy also highlighted growing cooperation on Hajj and Umrah management, peacebuilding, climate resilience and sustainable development, saying the two countries are well positioned to deepen collaboration on regional and global challenges in the years ahead.