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Symposium builds momentum for initiative targeting USD 1 billion in foreign direct investment in Bangladesh’s digital economy, anchored by VEON’s USD 250 million commitment
[Dhaka : VEON Ltd. (Nasdaq: VEON), a global digital operator, and its operating subsidiary in Bangladesh, Banglalink, on Thursday hosted the inaugural investor symposium for the \u201cInvest in Bangladesh NOW!\u201d initiative in New York City, on the sidelines of the United Nations General Assembly. The closed-door roundtable brought together global investors, development finance institutions and Bangladeshi government officials to discuss investment opportunities in Bangladesh\u2019s digital economy.
VEON\u2019s \u201cInvest in Bangladesh NOW!\u201d initiative, launched earlier this year, is a proposed public-private partnership with the Government of Bangladesh and is anchored by VEON\u2019s initial USD 250 million capital commitment, with the broader ambition of mobilizing USD 1 billion in total foreign direct investment into the country\u2019s digital economy. This week\u2019s symposium marks the first major international event under the initiative, bringing the investment case for Bangladesh directly to the global capital community in New York.
The event was attended by Bangladesh’s Finance Minister Amir Khosru Mahmud Chowdhury, Rehan Asif Asad, Advisor to the Prime Minister for ICT, and Tanvir Ghani, Special Assistant to the Prime Minister for Investment and Capital Market Affairs, alongside senior officials from the Government of Bangladesh. Also in attendance were senior representatives from the Government of the UAE, the US Department of State, and leading global investors and development finance institutions including BlackRock, Rothschild, the IFC and the World Bank.
\u201cBangladesh\u2019s digital transformation creates a compelling opportunity for long-term investment,\u201d said Kaan Terzioglu, Chief Executive Officer of VEON. \u201cWe are backing that opportunity with a USD 250 million commitment and bringing international partners together to help mobilize USD 1 billion into the country\u2019s digital economy. Through Banglalink, we are expanding from connectivity into digital services that help people make payments, access opportunities and participate more fully in the economy. Our ambition is to turn investment into a better life for all.\u201d
\u201cVEON invests in markets whose digital potential is still underappreciated by global capital,\u201d said Augie K Fabela II, Chairman and Founder of VEON. \u201cBangladesh is home to more than 170 million people, a young and ambitious population, and a digital economy that is accelerating quickly. Putting our own capital in first, ahead of other investors, reflects our long-term confidence in what this country is building.\u201d
The event also spotlighted recent milestones in Banglalink’s digital expansion. The company has received approval from the Bangladesh Telecommunication Regulatory Commission (BTRC) to launch Starlink Direct-to-Cell satellite-to-mobile service, which will let compatible phones connect directly to satellites in areas without conventional coverage. This will make Bangladesh the first country in South Asia to introduce the technology. The Finance Minister also announced approval of a new digital bank license backed by VEON and Square Group, and this week Banglalink separately launched Mukto Pay, its new digital payments platform for transfers, merchant and bill payments, and disbursements.
\u201cToday marks a defining moment in Banglalink\u2019s evolution as a digital operator,\u201d said Johan Buse, Chief Executive Officer of Banglalink. \u201cBy bringing together the world\u2019s leading investors and development finance institutions in New York, VEON has created a platform for Bangladesh that we believe will generate real, sustained investment in our country\u2019s digital future, and we are proud to be at the center of that story.\u201d<\/p>\n\n\n\n
-Press Release<\/p>\n","protected":false},"excerpt":{"rendered":"
Symposium builds momentum for initiative targeting USD 1 billion in foreign direct investment in Bangladesh’s digital economy, anchored by VEON’s USD 250 million commitment[Dhaka : VEON Ltd. (Nasdaq: VEON), a global digital operator, and its operating subsidiary in Bangladesh, Banglalink, on Thursday hosted the inaugural investor symposium for the \u201cInvest in Bangladesh NOW!\u201d initiative in […]<\/p>\n","protected":false},"author":1,"featured_media":8267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-8269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"\n