‘Bangladesh needs $170bn FDI in energy sector’

Bangladesh will need $170 billion foreign direct investment (FDI) by 2041 in the country's power and energy sector, said State Minister for Power and Energy Nasrul Hamid.

“We will need investment in LNG, renewable energy, smart grid and smart distribution, electrical vehicles infrastructure, offshore gas exploration, energy infrastructure, petrochemical industry, and reduction of GHG emission,” he said.

The state minister was speaking at a discussion styled as “US Bangladesh Economic Partnership: Shared Vision for Smart Growth,” organised by the US Chamber of Commerce in Washington DC, USA.

Nasrul Hamid said the government was providing special incentives to invest in Bangladesh. He expected to get

public and private investment to make Bangladesh smart.

Bangladesh will require investment in technological and knowledge based sectors along with the investment in economic development to build a smart Bangladesh, a vision announced by Prime Minister Sheikh Hasina. 

Chevron Bangladesh president and managing director Eric M. Walker and ExxonMobil vice president Dr John Ardil also attended the discussion.