UAE cos roll out investment plans in Bangladesh
Two leading UAE-based companies, Abu Dhabi Ports Group (ADPG) and Masdar, have unveiled significant investment plans in Bangladesh's port and renewable energy sectors, showcasing the growing interest of global firms in the country’s expanding economy.
During a meeting held on Tuesday (January 28) at the state guesthouse Jamuna, Ahmad Ibrahim Al Mutawa, CEO of ADPG, and Fatima Almadhloum Alsuwaidi, Head of Development and Investment for the Asia-Pacific Region at Masdar, presented their proposals to Chief Adviser Professor Muhammad Yunus.
Praising the proposals, Chief Adviser Yunus said, “Bangladesh is ready for business. Bring your teams and set up as many plants as you want.”
The investments align with the government’s efforts to attract foreign direct investment to fuel infrastructure development and green energy projects.
ADPG, one of the world's top port handlers, joins the ranks of other major international players such as DP World (UAE), AP Moller-Maersk (Denmark), and Red Sea Gateway Terminal (Saudi Arabia) in expressing interest in managing Bangladesh's ports.
ADPG has proposed developing one of the three planned bay terminals at Chittagong Port in a joint venture with the Chittagong Port Authority. Their plan includes financing, operating, and maintaining container and multipurpose terminals and associated facilities.
CEO Ahmad Ibrahim Al Mutawa praised Bangladeshi authorities for their pro-business attitude and highlighted the potential of the investment to boost shipping traffic and enhance port efficiency in Bangladesh.
Masdar, a global leader in renewable energy, has proposed a $500 million investment to establish a 250 MW solar power project on reclaimed coastal land.
Fatima Almadhloum Alsuwaidi, Masdar’s regional head of investment, said, “We are keen to support the demonstration of new ideas in Bangladesh.”
The project would contribute significantly to Bangladesh's renewable energy goals and strengthen the country's green energy portfolio.
The meeting was attended by Bangladesh Ambassador to the UAE Abdullah Ali Alhumudi, High Representative of the Principal Advisor Khalilur Rahman, and Senior Secretary for SDGs Lamia Murshed.
Ambassador Alhumudi handed over an official invitation from the Ruler of Dubai to Principal Advisor Yunus, inviting him to participate in the World Government Summit in the UAE.
This development marks another milestone in the strengthening of ties between Bangladesh and the UAE, furthering collaboration in economic and technological advancements.