Chief Adviser seeks more US investment in Bangladesh
Excelerate Energy plans to invest more in the country’s energy sector
Daily Sun Report, Dhaka
Published: 15 Oct 2024
Photo: PID
Welcoming more US investment in Bangladesh, Chief Adviser Prof Muhammad Yunus on Tuesday said his government has taken steps to attract foreign direct investment (FDI) and improve the business climate in the country.
"You have come at the right time here," Prof Yunus said when Excelerate Energy Chief Executive Officer Steven Kobos and his business delegation called on him at the state guesthouse Jamuna in Dhaka.
Kobos, also the chairman of the US-Bangladesh Business Council, hailed the chief adviser on assuming the leadership of the interim government, saying it would increase their business confidence in Bangladesh.
"There has been a lot of interest in Bangladesh from American companies since you took over," he said, adding some of the top US companies, including members of the US-Bangladesh Business Council, were excited about business prospects in this South Asian country.
Kobos, also the president of Excelerate Energy, said his company has planned to invest more in the energy sector and decarbonisation in Bangladesh.
The company wants to scale up and ensure a smooth supply of liquefied natural gas to the country, he said.
Excelerate currently has investments in two offshore floating storage and regasification units in Bangladesh, which supply 1.1 billion cubic feet of gas, accounting for some 34% of the country's daily gas supply.
During his recent visit to the US, Chief Adviser Prof Yunus spoke at an event of the US-Bangladesh Business Council and invited all its 50 members, including some of the top American multinational firms, to invest in Bangladesh.
In the meeting, Steven Kobos was accompanied by high officials of Excelerate Energy, including Peter Haas, a former US ambassador to Bangladesh who recently joined Excelerate Energy as its strategic adviser, Derek Wong and Ramon Wangdi, vice-presidents of the company, and Habib Bhuiyan, the country manager.
Lamiya Morshed, senior secretary and the head of SDG Affairs, Chowdhury Ashik Mahmud Bin Harun, executive chairman of the Bangladesh Investment Development Authority (BIDA), and Mohammad Saiful Islam, secretary of the Energy and Mineral Resources Division, were also present at the meeting.