VOLUME 20 ISSUE 23
Download Link for Energy & Power Vol 20 Issue 23 (May 16, 2023) as PDF/userfiles/EP_20_23.pdf
Bangladesh has set ambitious goals to become a higher-middle-income country by 2031 and a developed economy by 2041. To achieve this vision, the government has finalized a comprehensive infrastructure development plan, with a focus on the power and energy sector. Efforts are underway to upgrade existing plans to align with the long-term goals. However, the government faces challenges related to energy supply. A reliable and uninterrupted energy supply is crucial for supporting economic growth. Despite these challenges, the government remains committed to realizing its vision and has actively sought investment from various countries. Prime Minister Sheikh Hasina has engaged in economic diplomacy, exploring investment opportunities from countries such as Russia, Japan, China, India, EU nations, the USA, Korea, and ASEAN countries. The Prime Minister's recent visits to Japan, the USA, and the UK to secure investment have garnered significant attention. Yet, attracting substantial foreign direct investment (FDI) remains a challenge. The country has enabling policies and initiatives for industrialization and job creation, but the lack of a functional one-stop service hinders investment. The government needs to prioritize implementing an efficient one-stop service to attract FDI and accelerate progress in sectors such as power and energy.
The country has the potential to advance quickly and secure foreign investment if it can address implementation issues, improve the investment environment, and ensure a reliable infrastructure and policies.
