VEON, Banglalink take $1b Bangladesh investment drive to global investors

VEON Ltd, a global digital operator, and its operating subsidiary in Bangladesh, Banglalink, on Thursday hosted the inaugural investor symposium for the “Invest in Bangladesh NOW!” 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’s digital economy.
Launched earlier this year, VEON’s “Invest in Bangladesh NOW!” initiative is a proposed public-private partnership with the Government of Bangladesh. It is anchored by VEON’s initial US$250 million capital commitment, with the broader initiative aiming to mobilise $1 billion in total foreign direct investment in the country’s digital economy.
The symposium marked the first major international event under the initiative, bringing the investment case for Bangladesh directly to the global capital community in New York, according to a press release issued by Banglalink. 
Bangladesh Finance Minister Amir Khosru Mahmud Chowdhury, Rehan Asif Asad, adviser to the prime minister for ICT, and Tanvir Ghani, special assistant to the PM for Investment and Capital Market Affairs, attended the event along with senior government officials.
Senior representatives from the Government of the UAE and the US Department of State also attended, alongside representatives of global investors and development finance institutions, including BlackRock, Rothschild, the International Finance Corporation (IFC) and the World Bank.

“Bangladesh’s digital transformation creates a compelling opportunity for long-term investment,” said Kaan Terzioglu, chief executive officer of VEON.
He said VEON is backing the opportunity with a $250 million commitment and bringing international partners together to help mobilise $1 billion into Bangladesh’s 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,” he said.
VEON Chairman and Founder Augie K Fabela II said Bangladesh has more than 170 million people, a young and ambitious population, and a rapidly expanding digital economy.
“Putting our own capital first, ahead of other investors, reflects our long-term confidence in what this country is building,” he said. The event also highlighted recent developments in Banglalink’s digital expansion.
Banglalink has received approval from the Bangladesh Telecommunication Regulatory Commission (BTRC) to launch Starlink Direct-to-Cell satellite-to-mobile services, enabling compatible phones to connect directly to satellites in areas without conventional mobile coverage.
According to the company, Bangladesh will become the first country in South Asia to introduce the technology.
The finance minister also announced approval of a new digital bank licence backed by VEON and Square Group.
Separately, Banglalink this week launched Mukto Pay, its digital payments platform for money transfers, merchant and bill payments, and disbursements.
“Today marks a defining moment in Banglalink’s evolution as a digital operator,” said Johan Buse, CEO of Banglalink.
He said the New York event brought together global investors and development finance institutions around Bangladesh’s digital future.
“We are proud to be at the centre of that story,” he said.