EU underlines need for transparent investment environment
The session was opened by Ambassador Miller and the keynote speaker was Muhammad Fouzul Kabir Khan, adviser for the Ministry of Power, Energy and Mineral Resources
Ambassador of the European Union (EU) to Bangladesh Michael Miller yesterday (9 April) underlined the need for a "transparent, predictable and competitive" trade and investment environment in Bangladesh.
Speaking at a session at the Bangladesh Investment Summit, he underlined that building prosperity, promoting sustainable growth, mobilising investments and addressing climate change are common goals of both the EU and Bangladesh.
The ambassador said the EU seeks to advance this through the Global Gateway approach by supporting a green economic growth model decoupled from carbon emissions, along with an inclusive energy transition that ensures affordable, secure, and clean energy for all, mobilising €1.3 billion under the Team Europe Initiative on green energy with European Investment Bank willing to double it's lending in Bangladesh.
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The EU organised the thematic session on "Renewable Energy: Unlocking the Potential of Bangladesh for Investors in Renewable Energy" as part of the Bangladesh Investment Summit 2025, organised by the Bangladesh Investment Development Authority (BIDA).
The session was opened by Ambassador Miller and the keynote speaker was Muhammad Fouzul Kabir Khan, adviser for the Ministry of Power, Energy and Mineral Resources.
Other high-level speakers were Jarno Syrjälä, under-secretary of State for International Trade, Ministry for Foreign Affairs of Finland, and Nicolas Weeks, ambassador of Sweden to Bangladesh.
The session on renewable energy brought together investors from Europe, Asia and other regions, key industry stakeholders, local industry leaders, the Bangladesh authorities, and sector experts to discuss the potential of renewable energy in Bangladesh.
Bangladesh, one of South Asia's fastest-growing economies, presents significant opportunities for foreign direct investment (FDI) in renewable energy, driven by rising electricity demand from rapid industrialisation and urbanisation, as well as high energy costs resulting from import dependency of fossil fuels, said the EU Embassy.
Adviser Fouzul highlighted the depletion of fossil fuel reserves, volatility in the global energy market, and carbon emissions as key factors driving Bangladesh's transition to renewable energy, reaffirming the interim government's strong commitment to fostering a transparent, competitive, and inclusive renewable energy market that serves the interests of businesses, citizens, and the nation as a whole.
A panel discussion explored at length the urgent need for investment in renewable energy production in Bangladesh, opportunities and challenges in terms of the business environment, investment framework, and regulatory landscape, as well as the mechanisms for green financing to support renewable energy projects in Bangladesh.
The panel included Michael Steidl, regional head of the European Investment Bank (EIB), Jalal Ahmed, chairman of the Bangladesh Energy Regulatory Commission (BERC), Sarah Negro, global Head of Public Affair for H&M, Tanveer Mohammad, chief corporate affairs officer, Grameenphone Ltd, Ahsan Khan Chowdhury, CEO and chairman of PRAN-RFL Group, Khandker Md Abdul Hye, chairman of Sustainable and Renewable Energy Development Authority (SREDA), and Syed O Faruque, partner, COP Frontier O2 ApS.
It was moderated by Máté Heisz, chief operating officer of SolarPower Europe.
The panel discussion was followed by a B2B matchmaking session that connected local and international investors, facilitating their networking with government authorities and financial institutions, and fostering partnerships for new investments in renewable energy and other sectors.
The event also showcased renewable energy projects in Bangladesh involving Team Europe (the EU, EU financing institutions, Norway and Switzerland), Lafarge Geocycle, ABB, SolShare, Bangladesh Sustainable and Renewable Energy Association (BSREA), and Omera Solar.
Two MoUs were signed during the session: one between H&M and Pran Group on a Corporate Power Purchase Agreement (CPPA), and another between SolarPower Europe and BSREA on renewable energy cooperation.
The day concluded with a reception hosted by EuroCham Bangladesh.
The renewable energy session was organised in collaboration with the Bangladesh Investment Development Authority (BIDA), United Nations Developemtn Programme (UNDP), and the European Union Chamber of Commerce (Eurocham) in Bangladesh.
