Singapore-based port operator PSA International has expressed interest in investing between $800 million and $1 billion in the Bay Terminal project at Chattogram Port and is ready to take part in its operation.

The issue was discussed during a courtesy meeting between Singapore’s non-resident High Commissioner to Bangladesh, Derek Loh, and Home Minister Salahuddin Ahmed at the National Parliament Building on Tuesday (November 3).

During the meeting, the Singaporean envoy highlighted PSA International’s investment plans and operational preparations for the project. He said the company was ready to move forward with the implementation of the Bay Terminal.

Once operational, the project is expected to significantly reduce cargo transportation costs in Bangladesh, with positive impacts on the overall welfare of workers in the ready-made garment (RMG) sector.

The home minister suggested holding discussions with the Ministry of Shipping, the Bangladesh Investment Development Authority (BIDA) and the Chattogram Port Authority regarding the project.

The meeting also discussed a proposed free trade agreement (FTA) between Bangladesh and Singapore. The high commissioner said negotiations on the agreement had reached the final stage. Salahuddin Ahmed expressed hope that it would be implemented soon to expand trade and investment opportunities between the two countries.

Cybersecurity cooperation and the modernisation of Bangladesh Police were also on the agenda. The home minister sought Singapore’s assistance in training police personnel and strengthening their capacity to tackle cybercrime, digital fraud and online scams.

He also mentioned the initiative to establish a new cyber unit within Bangladesh Police under the leadership of an additional inspector general of police and expressed interest in exchanging expertise with Singapore.

In response, the Singaporean delegation expressed willingness to support training programmes and joint cyber investigations.

The high commissioner also proposed experience-sharing visits and specialised training programmes in Singapore for Bangladeshi government officials and young lawmakers under the Singapore Cooperation Programme. The home minister welcomed the proposal.

Both sides expressed optimism about further strengthening bilateral cooperation and partnership.

Other officials attending the meeting included Singapore High Commission’s Chargé d’Affaires Philip Wong, PSA International Regional Head Wong Jee Ping, Enterprise Singapore’s South Asia representative Benjamin Chu and Singapore Foreign Ministry desk officer Mrithini Thyagarajan, along with officials from Bangladesh’s Home Ministry.