Veon invests US$250m in Bangladesh unit to attract US$1b in FDI
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Global digital operator Veon – which owns Bangladesh telco Banglalink – announced Tuesday it has committed an initial US$250 million anchor investment as part of a new initiative to attract US$1 billion in foreign direct investment (FDI) to Bangladesh.
A delegation of Veon executives led by Veon chairman and board founder Augie K Fabela II met with Bangladesh PM Tarique Rahman in Dhaka on Monday to discuss Veon’s vision to establish a comprehensive digital finance ecosystem in Bangladesh.
Veon said it aims to leveraging its global fintech expertise to provide accessible digital banking, microfinance and micro insurance services to millions of underserved Bangladeshis, supporting digital and financial inclusion and helping individuals and small businesses build greater economic opportunity.
Veon also outlined the framework for launching a public private partnership called "Invest in Bangladesh NOW" in partnership with the government, including the Ministry of Posts, Telecommunications and ICT, to attract US$1 billion in FDI, anchored by Veon's commitment of US$250 million over the coming years.
The proposed US$250 million investment will focus on advanced connectivity, next generation digital infrastructure, digital financial services, and AI. Beyond its own investment, Veon said it intends to leverage its global network to encourage other international investors to explore opportunities in Bangladesh's rapidly growing digital economy.
“By anchoring this US$1 billion initiative, we are not only committing capital but also mobilising global investment into the country's digital future,” said Veon Group CEO Kaan Terzioglu in a statement. “Through Banglalink, we will accelerate the rollout of next generation connectivity, scale inclusive digital financial services, and advance AI powered solutions that expand access, drive innovation, and strengthen Bangladesh's position as one of the region's most promising digital economies.”
Terzioglu added that Veon and Banglalink also aim to deepen their digital footprint in Bangladesh by exploring new growth horizons, including digital banking, education, healthcare, agriculture, ride sharing, IoT solutions and advanced connectivity offerings such as Starlink's direct to device (D2D) technology, which Banglalink plans to launch later this year.
