BD seeks $170b for Power-Energy sector

Kamruzzaman Bablu :
Bangladesh is seeking around $170 billion foreign investment to enhance the production capacity of power and energy sector by 2041.
Regarding this issue, Bangladesh government is plans to providing special incentives to foreign investment.
“Upgrading gas infrastructure, setting up petrochemical industries, reducing GHG emissions, smart gas distribution are among the sectors where US and other foreign companies can invest and the government will provide special incentives to foreign investors,” said State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Wednesday.
He made the remark while addressing a session on “Strengthening the Future of Economic Growth of Bangladesh” at the high-level discussion meeting titled “US-Bangladesh Economic Partnership: Shared Vision for Smart Growth.”
At the programme, organised by the US Chamber of Commerce in Washington DC on Tuesday, Nasrul said, “There are profitable investment opportunities in different sectors and sub-sectors such as LNG, renewable energy, smart grid, smart distribution, electric vehicle infrastructure, onshore and offshore hydrocarbon exploration.
Nasrul Hamid said investors will be benefited in power and energy sector as well its sub-sectors such as LNG, renewable energy, smart grid, smart distribution, electric vehicle infrastructure, onshore and offshore exploration, upgrading gas infrastructure, setting up petrochemical industries, reducing Green House Gas (GHG) emissions and smart gas distribution.
“It needs financial investment as well as technical and knowledge-based cooperation to realise the vision. Investment should come not only from multilateral development agencies, but also from the public and private sectors.”
He said Prime Minister Sheikh Hasina has given the vision of transforming into a smart Bangladesh aimed at building the golden Bangladesh, dreamt by Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
Implementing the vision, financial investment as well as technical and knowledge-based cooperation is needed, the state minister said.
“Investment will come not only from multilateral development agencies, but also from public and private sectors. At the same time, skilled manpower will be developed in cooperation with developed countries,” he added.
Among others, Eric Walker, president of Chevron’s Bangladesh Office, and Dr John Ardil, vice president of ExxonMobil gave speeches in the session.