Global digital operator VEON, the parent company of Banglalink, has proposed a USD 1 billion investment initiative in Bangladesh, reaffirming its long-term commitment to the country’s rapidly evolving digital economy. The proposal includes an immediate investment commitment of USD 250 million, subject to a conducive and predictable regulatory environment.

The proposal was discussed during a meeting between Prime Minister Tarique Rahman and VEON Chairman Augie Fabela, where both parties explored opportunities to strengthen Bangladesh’s digital infrastructure and expand access to next-generation digital services.

Branded as “Invest in Bangladesh NOW!”, the initiative is being proposed in collaboration with the Ministry of Posts, Telecommunications and Information Technology and the Information and Communication Technology Division. It aims to catalyze foreign direct investment (FDI) into Bangladesh’s digital ecosystem while supporting the country’s broader digital transformation agenda.

The proposed investment will prioritize strategic sectors, including:

• Next generation digital infrastructure
• Artificial intelligence (AI)
• Digital financial services
• Digital banking
• Mobile financial services
• Technology driven innovation

During the discussion, the Prime Minister emphasized the importance of expanding digital inclusion by making smartphones more affordable and reducing internet costs, enabling broader access to digital services across all socioeconomic groups.

VEON’s latest proposal builds upon more than USD 2.5 billion invested in Bangladesh over the past 21 years, reflecting the company’s longstanding presence in the country’s telecommunications sector.

Beyond infrastructure investment, VEON is also pursuing several strategic initiatives to deepen its participation in Bangladesh’s digital economy. The company has applied for a digital bank licence and has already received a no objection certificate from Bangladesh Bank to operate as a Payment Service Provider (PSP). It is also exploring a potential strategic partnership with Teletalk and the possible acquisition of Nagad, subject to regulatory approvals and further discussions.

The proposed investment underscores growing international investor confidence in Bangladesh’s digital economy and highlights emerging opportunities across telecommunications, fintech, artificial intelligence, and digital public infrastructure. As Bangladesh continues advancing its Smart Bangladesh vision, investments of this scale have the potential to accelerate innovation, expand digital connectivity, and strengthen the country’s position as an attractive destination for technology focused investment in South Asia.