Global digital operator VEON and its Bangladesh subsidiary Banglalink have pitched a $1b foreign direct investment opportunity in Bangladesh’s digital economy, bringing together international investors and development finance institutions in New York to discuss potential investments in technology-driven sectors.
The investor symposium, organised by VEON and Banglalink on the sidelines of the United Nations General Assembly, marked the first international event under the “Invest in Bangladesh NOW!” initiative.
The initiative is backed by VEON’s initial $250m capital commitment, with a broader ambition to mobilise $1b in foreign direct investment for Bangladesh’s digital economy.
The closed-door forum brought together global investors, development finance institutions and Bangladesh government officials to discuss opportunities in digital infrastructure, financial services and technology-based businesses.
Finance Minister Amir Khosru Mahmud Chowdhury, Advisor to the Prime Minister for ICT Rehan Asif Asad, and Special Assistant to the Prime Minister for Investment and Capital Market Affairs Tanvir Ghani attended the event along with senior government officials.
Representatives from the Government of the UAE, the US Department of State, and global institutions including BlackRock, Rothschild, International Finance Corporation (IFC) and the World Bank also participated.
VEON CEO Kaan Terzioglu said the company’s $250 million commitment was aimed at attracting wider international investment into Bangladesh’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,” he said.
VEON Chairman and Founder Augie K Fabela II said the company was investing in markets where digital potential remained underrecognised by global capital.
“Putting our own capital in first, ahead of other investors, reflects our long-term confidence in what this country is building,” he said.
The investment push comes as Banglalink expands beyond traditional telecom services into digital platforms.
The telecom operator has received approval from the Bangladesh Telecommunication Regulatory Commission to launch Starlink Direct-to-Cell satellite-to-mobile service, allowing compatible mobile phones to connect directly with satellites in areas without conventional network coverage.
Banglalink also recently launched Mukto Pay, a digital payments platform for money transfers, merchant payments, bill payments and disbursements.
The company, along with diversified business group Square Group, has received approval from Bangladesh Bank for a digital bank licence.
Banglalink CEO Johan Buse said the developments marked a shift from a telecom operator into a broader digital services provider.
“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,” he said.
