Bangladesh has a target of producing 60,000MW electricity by the year 2041 and so the sector needs a huge investment. Singaporean investors are keen to invest in this sector.
State Minister for Power, Energy and Mineral Resources, Nasrul Hamid MP informed this at a discussion on Tuesday.
He was addressing the “Bangladesh-Singapore Business Forum”, jointly organised by the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI), the Singapore Business Federation, the Bangladesh Business Chamber of Singapore and the Singapore-Indian Chamber of Commerce and Industry (SICCI), at the Pan pacific Sonargaon Dhaka.
Speaking at the programme, state minister said: “Currently a wonderful investment environment is prevailing in Bangladesh that’s why many countries including Singapore are coming forward to invest here.”
Some Tk 40 billion will be invested in the country’s energy sector within the next 5 to 6 years, Hamid said adding: “Singapore has invested huge funds in the country’s energy sector and it is expected that they will invest more in this sector.”
He said Singaporean investors have also invested in Sirajganj 414MW power plant, LNG terminal and power plant, 1,400MW coal power plant, LNG gas supply project. It is expected that the country will also invest in automation, digital payment and ICT sector of Bangladesh, he informed. Chairman of Singapore Business Forum, Teo Siong Seng (S. S. Teo), FBCCI President, Shafiul Islam Mohiuddin, Chairman of Bangladesh Investment Development Authority (BIDA), Qazi Aminul Islam also addressed the forum.
Senior Vice President of FBCCI, Sheikh Fazle Fahim moderated the programme.
While addressing, Teo Siong Seng said they are interested to invest in Bangladesh and his country investors prefer the sectors like power, energy, tourism, pharmaceuticals, health and ship-building here.
The Singaporean entrepreneur highlighted the upward trend of Bangladesh in most indexes of the economic development.
FBCCI President, Shafiul Islam Mohiuddin said Bangladesh can be a unique destination for Singapore in terms of investment and huge activities are running here in the infrastructure.
He urged Singaporean investors to invest in energy and ICT sectors of Bangladesh.