Staff Reporter:
Banglalink’s parent company VEON plans to make fresh investments in Bangladesh and has proposed an initiative aimed at attracting US$ 1 billion in foreign direct investment (FDI) to support the country’s digital and financial transformation.
Founder and Chairman of the Board of VEON Group Augie K Fabela II said the company is prepared to serve as the anchor investor under the proposed “Invest in Bangladesh NOW” initiative with an initial commitment of US$ 250 million as part of a program designed to help attract US$ 1 billion in FDI, ac-cording to a Banglalink press release.
“Alongside our own investment, we will actively engage international partners to unlock Bangladesh’s tremendous potential,” he said, adding that VEON is fully aligned with the government’s vision for digi-tal and financial transformation and is ready to support that vision through long-term investment, inno-vation and partnership.
The investment proposal was discussed when Augie K Fabela II paid a courtesy call on Prime Minister Tarique Rahman at the Prime Minister’s office at Sangsad Bhaban here this morning.
Also present at the meeting were Posts, Telecommunications, Information Technology, and Science and Technology Minister Faqir Mahbub Anam, Prime Minister’s Adviser on Posts, Telecommunications, Information Technology, and Science and Technology Rehan Asif Asad, Member of the Board of Direc-tors of VEON Michiel Soeting, Chief Executive Officer of Banglalink Johan Buse and Chief Corporate and Regulatory Affairs Officer of Banglalink Taimur Rahman.
During the meeting, VEON outlined its vision to establish a comprehensive digital finance ecosystem in Bangladesh.
Leveraging its global fintech expertise, the company aims to provide accessible digital banking, micro-finance and micro-insurance services to millions of underserved Bangladeshis to accelerate digital and financial inclusion, empower individuals and small businesses, strengthen the digital economy and create greater economic opportunities.
VEON, a NASDAQ-listed global digital operator and the parent company of Banglalink, also discussed the framework for launching the proposed “Invest in Bangladesh NOW” initiative, a public-private part-nership in collaboration with the Government of Bangladesh, including the Ministry of Posts, Telecom-munications, and ICT, to help realise the Prime Minister’s vision of expanding foreign direct investment.
The proposed investment will focus on next-generation digital infrastructure, digital banking, mobile financial services (MFS), artificial intelligence (AI) and advanced connectivity. Beyond its own invest-ment, VEON also intends to leverage its global network to encourage other international investors to explore opportunities in Bangladesh’s rapidly growing digital economy.
Chief Executive Officer of Banglalink Johan Buse said Banglalink is committed to partnering with the government to accelerate Bangladesh’s digital and financial transformation. “Through continued invest-ment, innovation and strategic collaboration, we aim to expand access to impactful digital and financial services, creating new opportunities and contributing to a better life for all,” he said.
Looking ahead, VEON and Banglalink aim to deepen their digital footprint in Bangladesh by exploring opportunities in digital banking, education, healthcare, agriculture, ride-sharing, IoT solutions and ad-vanced connectivity offerings, including Starlink’s direct-to-cell technology.
