Banglalink's parent company VEON aims to make new investments in Bangladesh
Augie K Fabela II, founder and chairman of the Board of VEON Group, met with the prime minister of Bangladesh, Tarique Rahman, at the Prime Minister’s Office in Dhaka today, Monday to discuss new investment opportunities designed to bridge the country's digital and financial divide and fuel its journey toward a trillion-dollar economy.
Also present at the meeting were Faqir Mahbub Anam, minister for Posts, Telecommunications, Information Technology, and Science and Technology, and Rehan Asif Asad, the prime minister's advisor on Posts, Telecommunications, Information Technology, and Science and Technology.
The high-level VEON delegation accompanying Fabela included Michiel Soeting, member of the Board of Directors of VEON; Johan Buse, chief executive officer of Banglalink; and Taimur Rahman, chief corporate and regulatory affairs officer of Banglalink.
During the meeting, VEON outlined its vision to establish a comprehensive digital finance ecosystem in Bangladesh. Leveraging its global fintech expertise, the company aims to provide accessible digital banking, microfinance, and micro-insurance services to millions of underserved Bangladeshis.
These initiatives are designed to accelerate digital and financial inclusion, empower individuals and small businesses, strengthen the digital economy, and create greater economic opportunities that contribute to a better life for all.
VEON, a NASDAQ-listed global digital operator and the parent company of Banglalink, also discussed the framework for launching the “Invest in Bangladesh NOW” initiative, a first-of-its-kind public-private partnership proposed in collaboration with the Government of Bangladesh, including the Ministry of Posts, Telecommunications, and ICT.
It is specifically designed to help realise the Prime Minister’s vision of expanding foreign direct investment. The initiative aims to help attract USD 1 billion in foreign direct investment (FDI), with VEON serving as the anchor investor through an initial commitment of USD 250 million.
The proposed investment will focus on next-generation digital infrastructure, digital banking, mobile financial services (MFS), artificial intelligence (AI), and advanced connectivity. Beyond its own investment, VEON also intends to leverage its global network to encourage other international investors to explore opportunities in Bangladesh's rapidly growing digital economy.
Augie K Fabela II, founder and chairman of the Board of VEON Group, said, “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 program designed to help attract USD 1 billion in foreign direct investment.”
“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,” he added.
Johan Buse, CEO of Banglalink, said, “As Bangladesh's homegrown digital operator, Banglalink is deeply committed to partnering with the Government to accelerate the country's digital and financial transformation. We began our journey by democratizing mobile telephony, making connectivity accessible to millions across Bangladesh.”
“Today, through continued investment, innovation, and strategic collaboration, we aim to expand access to impactful digital and financial services, creating new opportunities and contributing to a better life for all,” added the CEO.
Looking ahead, VEON and Banglalink aim to significantly deepen their digital footprint in Bangladesh by exploring new growth horizons. These include digital banking, education, healthcare, agriculture, ride-sharing, IoT solutions, and advanced connectivity offerings like Starlink's direct-to-cell technology.