Bangladesh needs $170b investment in power, energy by 2041: Nasrul
State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said Bangladesh requires $170 billion investment in the power and energy sector by 2041.
"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," he said.
He was speaking at a session on strengthening Bangladesh's future of economic growth at a discussion titled "US-Bangladesh Economic Partnership: Shared Vision for Smart Growth" organised by the US Chamber of Commerce in Washington DC on Tuesday.
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He also said upgrading gas infrastructure, setting up petrochemical industries, reducing greenhouse gas emissions, and smart gas distribution are among the sectors where US companies can invest and the government will provide special incentives to foreign investors.
He said Prime Minister Sheikh Hasina has given the vision of building a smart Bangladesh to build the golden Bangladesh as dreamt by Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
"It needs financial investment as well as technical and knowledge-based cooperation to realise the vision," he said, adding that investment should come not only from multilateral development agencies, but also from the public and private sectors.
Eric Walker, president of Chevron's Bangladesh office, and Dr John Ardil, vice president of Exxon Mobil, also addressed the event.
