The government recently sought investment from Saudi entrepreneurs in the power sector to meet growing domestic demand.
Finance Minister AMA Muhith raised the issue while talking to a visiting Saudi business delegation at the secretariat in Dhaka.
Demand for power has increased a lot over the last 15 years due to higher economic growth of the country, he said.
“This is a growing market. This is why we are seeking foreign investment in Bangladesh. By September next year there will be a glut of liquid fuel in Bangladesh to produce electricity,” Muhith said.
He said 80 percent of the economy was in the hands of the private sector, which has been producing a lot of power and the government has been only guaranteeing its purchase.
The finance minister said Bangladesh is turning into an investment destination due to flexible foreign direct investment policy, for which capital and profits can easily be taken back.
