VEON, Banglalink host investor symposium in New York to promote Bangladesh investment

VEON Ltd and its Bangladesh operating subsidiary Banglalink hosted an investor symposium in New York to discuss investment opportunities in Bangladesh’s digital economy on the sidelines of the United Nations General Assembly.

The inaugural investor symposium for the “Invest in Bangladesh NOW!” initiative was held on Thursday and brought together global investors, development finance institutions and Bangladeshi government officials, according to a VEON press release issued on September 28.

The roundtable focused on investment opportunities in Bangladesh’s digital economy.

The event was organised as part of the “Invest in Bangladesh NOW!” initiative, which seeks to bring global investors together around opportunities in Bangladesh.

The symposium provided a platform for investors, development finance institutions and government representatives to discuss Bangladesh’s digital economy.

VEON Ltd is a global digital operator, while Banglalink is its operating subsidiary in Bangladesh.

The initiative, launched earlier this year, is a proposed public-private partnership with the Government of Bangladesh and is anchored by VEON’s initial $250 million capital commitment, with the aim to mobilise $1 billion in total foreign direct investment into the country’s digital economy.

The event was attended by Finance Minister Amir Khasru Mahmud Chowdhury, 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.

“Bangladesh’s digital transformation creates a compelling opportunity for long-term investment,” said Kaan Terzioglu, Chief Executive Officer of VEON.

“We are backing that opportunity with a $250 million commitment and bringing international partners together to help mobilise $1 billion into the country’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. Our ambition is to turn investment into a better life for all.”

“VEON invests in markets whose digital potential is still underappreciated by global capital,” said Augie K Fabela II, Chairman and Founder of VEON.

“Bangladesh 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.”

Banglalink earlier 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, Banglalink and Square Group, and this week Banglalink separately launched Mukto Pay, its new digital payments platform for transfers, merchant and bill payments, and disbursements.

“Today marks a defining moment in Banglalink’s evolution as a digital operator,” said Johan Buse, Chief Executive Officer of Banglalink.

“By bringing together the world’s 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’s digital future, and we are proud to be at the center of that story.”