2 Top UAE Companies Plan to Invest in Bangladesh
2 Top UAE Companies Plan to Invest in Bangladesh. Abu Dhabi Ports Group and Masdar, two leading companies from the United Arab Emirates (UAE), have announced significant investment plans in Bangladesh, focusing on port development, logistics, and renewable energy. This initiative marks a pivotal moment in Bangladesh’s economic expansion and infrastructure development.
Strategic Investment in Port Development
Ahmad Ibrahim Al Mutawa, CEO of Abu Dhabi Ports Group (ADPG), proposed investments during a meeting with Chief Adviser Prof Muhammad Yunus at the State Guest House Jamuna. The Chief Adviser warmly welcomed the initiative, stating, “Bangladesh is ready for business. Bring your people and set up as many plants as you want.”
Abu Dhabi Ports Group is the latest among major global port operators, including DP World (UAE), AP Moller Maersk (Denmark), and Red Sea Gateway Terminal (Saudi Arabia), to show interest in Bangladesh’s port sector. ADPG aims to develop one of the proposed three bay terminals in collaboration with the Chittagong Port Authority. This partnership will involve financing, operating, and maintaining container and multipurpose terminals.
Group CEO Al Mutawa praised Bangladesh’s investment-friendly environment and expressed optimism about boosting ship movement and trade efficiency through their participation.
Renewable Energy Expansion by Masdar
Masdar, a globally recognized renewable energy company, has proposed investing $500 million in Bangladesh to develop a 250-megawatt solar power project on reclaimed coastal land. This move aligns with Bangladesh’s commitment to renewable energy and sustainable development.
Fatima Almadhloum Alsuwaidi, head of development and investment in the Asia-Pacific region at Masdar, highlighted their support for bringing innovative energy solutions to Bangladesh, stating, “We are very supportive of showcasing new ideas to Bangladesh.”
High-Level Engagements and Future Prospects
The investment discussions were attended by key dignitaries, including Abdulla Ali Alhmoudi, UAE Ambassador to Bangladesh, Khalilur Rahman, high representative of the chief adviser, and Lamiya Morshed, senior secretary for SDG affairs.
As a testament to the growing relationship between Bangladesh and the UAE, Abdulla Ali Alhmoudi handed an invitation from the Dubai ruler to Chief Adviser Prof Muhammad Yunus to attend the World Government Summit in the UAE in February.
Conclusion
The investments from Abu Dhabi Ports Group and Masdar mark a significant milestone in Bangladesh’s economic development. These projects are set to enhance port logistics, increase trade efficiency, and support renewable energy expansion, contributing to the nation’s long-term sustainability goals. With a welcoming business environment and strategic partnerships, Bangladesh continues to emerge as a key player in the global economic landscape.
