Veon commits $250M to anchor $1B FDI push in Bangladesh

Veon Ltd. (NASDAQ: VEON) has committed $250 million in investment over the coming years in Bangladesh, serving as the anchor for a broader initiative aimed at attracting $1 billion in foreign direct investment to the country, according to a press release from the company.

Veon Chairman and Founder Augie K Fabela II met with Bangladesh Prime Minister Tarique Rahman at the Prime Minister's Office in Dhaka to outline the proposal, which includes a public-private partnership framework called "Invest in Bangladesh NOW," developed in collaboration with the Government of Bangladesh and the Ministry of Posts, Telecommunications and ICT.

The proposed investment is intended to focus on advanced connectivity, next-generation digital infrastructure, digital financial services, and artificial intelligence. Veon said it also plans to use its global network to encourage additional international investors to participate.

As part of the initiative, Veon outlined plans to establish a digital finance ecosystem in Bangladesh through its subsidiary Banglalink, targeting digital banking, microfinance, and micro-insurance services.

Veon CEO Kaan Terzioglu said the company is "not only committing capital but also mobilising global investment into the country's digital future."

Veon and Banglalink also indicated plans to explore additional sectors including digital banking, education, healthcare, agriculture, ride-sharing, and IoT solutions, as well as connectivity offerings such as Starlink's direct-to-cell technology.

Veon operates across five countries and reports more than 150 million connectivity customers and 228 million digital users.

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