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Bangladesh needs $50 billion investment in power and energy sector

State Minister for Power and Energy Nasrul Hamid has urged the European entrepreneurs to invest in Bangladesh taking the business opportunity prevailing here as the country needs $50 billion investment in power and energy sector.

He made the call while addressing a seminar on ‘Swedish Energy System and Sustainable Solution’ at the World Trade Centre at Stockholm in Sweden on Friday, said a Power, Energy and Mineral Resources Ministry press release.

Power Cell Director General Mohammad Hossain and Sreda member Siddique Zobair made presentations on Bangladesh’s power sector and renewable energy sector in the seminar.

Swedish ambassador to Bangladesh Johan Frisell and Director of Swedish Energy Agency Josephine Bahr Ljungdell were present at the seminar.

Nasrul said many global agencies are appreciating the progress of Bangladesh as the government has ensured a business security while taxation system is easy and labour cost is very cheap.

He mentioned that the IMF has termed Bangladesh 2nd fastest growing major economy in the world in its 2016 report while HSBC made a forecast that Bangladesh will emerge as a country of 23rd largest economy by 2050.   

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