Chief Adviser seeks more US investment in Bangladesh

Chief Adviser Professor Muhammad Yunus today welcomed increased US investment in Bangladesh and said his government has improved the business environment in the nation by luring FDI.

When Steven Kobos, the CEO of Excelerate Energy, paid him a visit at the State Guest House Jamuna here, Prof. Yunus said, “You have come at the right time here.”

Kobos, who also serves as the chairman of the US-Bangladesh Business Council, praised the Chief Adviser for taking the helm of the temporary administration and predicted that this would boost foreign companies’ trust in Bangladesh.

“There has been a lot of interest in Bangladesh from American companies since you took over,” he said, adding some of the top US companies, including members of the US-Bangladesh Business Council, were excited about business prospects in this South Asian country.

Kobos, who is also the president of Excelerate Energy, stated that his organisation intends to increase its investments in Bangladesh’s decarbonisation and energy sectors.

According to him, the company aims to expand and guarantee a steady supply of LNG to Bangladesh.

Currently, Excelerate owns and operates two offshore floating storage and regasification facilities in Bangladesh, providing 1.1 billion cubic feet of gas per day, or around 34% of the nation’s total gas supply.

During his recent visit to the US, Chief Adviser Prof Yunus spoke at an event of the US-Bangladesh Business Council, invited all its 50 members, including some of the top American multinational firms, to invest in Bangladesh.

Steven Kobos met with a group of high-ranking Excelerate Energy representatives, including the company’s vice presidents Derek Wong and Ramon Wangdi, the country manager Habib Bhuiyan, and Peter Haas, a former US ambassador to Bangladesh who recently joined the organisation as a Strategic Advisor.

The meeting was also attended by Ashik Chowdhury, the chairman of the Bangladesh Investment Development Authority (BIDA), Saiful Islam, the energy secretary, and Lamiya Morshed, senior secretary and head of SDG Affairs.