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Sunday, July 21, 2024

Bangladesh has more US investment scope in energy sector : Nasrul Hamid

  • BSS
Photo: Collected

State Minister for Power Energy and Mineral Resources Nasrul Hamid on a virtual dialogue in the city said Bangladesh as a rising economy contains a vast foreign investment opportunities here particularly for the United States and calling for more US investments in different energy sub-sectors here.

“Country’s infrastructure, communication, information technology, health services and power and energy sector are quickly expanding, so there is huge foreign investment scope in those sectors”, he said while presenting a keynote paper at online function in the city on Tuesday.

A number of US companies including Chevron, Accelerate Energy, Exxon Mobil Corporation, Halliburton and General Electric Company or GE are already working here, he said, but more US companies have a scope to invest in Bangladesh.

The American companies, who are always welcome here, can invest here in the renewable energy, new technology of power and energy sector, modern management of power and energy, energy expertise conservation and promotion and modernization of natural gas infrastructure.

Hamid at the function, organized by the United States Chamber of Commerce (USCC), a business-oriented American lobbying group, said Bangladesh can arrange a programme like ‘Bangladesh Investment Branding’ in association with the World’s largest business organization.

Bangladesh, has achieved 5.24 percent GDP growth in 2019-20 fiscals amid facing global corona endemic, however going to announce offshore bidding round under production sharing contract or model PSC 2019 with a plan to explore more natural resources from the offshore blocks adjacent to gas-rich blocks of Myanmar.

The function was coordinated by USCC’s senior vice president Nisha Biswal while power division secretary Dr Sultan Ahmed also spoke, among others.

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