Global digital operator VEON has proposed an initial investment of US$250 million in Bangladesh as part of a broader public-private initiative aimed at attracting US$1 billion in foreign direct investment (FDI) to support the country’s digital transformation and long-term economic growth.
The proposal was presented by Augie K. Fabela II, founder and chairman of VEON Group, during a courtesy call on Prime Minister Tarique Rahman at the Prime Minister’s Office in Dhaka, where the two sides discussed opportunities to expand digital infrastructure, strengthen financial inclusion and increase investment in advanced technologies.
Senior government officials attending the meeting included Posts, Telecommunications, Information Technology and Science and Technology Minister Faqir Mahbub Anam and the Prime Minister’s adviser on the sector, Rehan Asif Asad. VEON’s delegation also included board member Michiel Soeting, Banglalink Chief Executive Johan Buse, and Banglalink’s Chief Corporate and Regulatory Affairs Officer Taimur Rahman.
VEON, which is listed on the NASDAQ and owns Bangladesh’s mobile operator Banglalink, said it intends to launch the “Invest in Bangladesh NOW” initiative in partnership with the Bangladeshi government. The programme would position the company as an anchor investor while encouraging additional international investment in the country’s digital economy.
Speaking after the meeting, Fabela said VEON views Bangladesh as a strategic long-term investment destination. “We are a long-term partner in Bangladesh’s journey toward becoming a trillion-dollar economy. Through the ‘Invest in Bangladesh NOW’ initiative, VEON is prepared to serve as the anchor investor in an ambitious programme designed to help attract US$1 billion in foreign direct investment,” he said.
“Alongside our own investment, we will actively engage international partners to unlock Bangladesh’s tremendous potential. We are fully aligned with the Government’s vision for digital and financial transformation and stand ready to support that vision through long-term investment, innovation and partnership.”
According to VEON, the proposed US$250 million investment would focus on next-generation digital infrastructure, digital banking, mobile financial services, artificial intelligence and advanced connectivity.
The company also outlined plans to establish a broader digital finance ecosystem in Bangladesh by drawing on its fintech operations in other markets. The initiative would seek to expand access to digital banking, microfinance and micro-insurance services for millions of underserved people, particularly those with limited access to traditional financial institutions.
VEON said strengthening digital and financial inclusion would help support small businesses, stimulate innovation and accelerate the growth of Bangladesh’s digital economy.
The company also plans to use its international network to encourage other global investors to explore opportunities in Bangladesh, complementing its own investment commitment.
Bangladesh has been seeking to increase FDI inflows as it pursues economic diversification and digitalisation, with policymakers identifying technology, financial services and digital infrastructure as priority sectors for future investment. The proposed partnership with VEON is intended to support those objectives while reinforcing the country’s ambition to build a more digitally connected and financially inclusive economy.