Bangladesh’s engagement with Silicon Valley-based Plug and Play has opened opportunities for investment, innovation and technology partnerships, with the global innovation platform proposing a strategic pathway that could help mobilise more than US$500 million in foreign direct investment (FDI) for Bangladesh.

A high-level Bangladesh delegation held discussions with Plug and Play leadership at its Silicon Valley headquarters on September 28, according to a press release.

The meeting, facilitated by the Consulate General of Bangladesh in Los Angeles, focused on attracting international investment, strengthening Bangladesh’s innovation and startup ecosystem, developing AI capabilities, building technology talent and connecting the country with global corporations and investors.

The delegation, led by Prime Minister’s Adviser on Finance and Planning Rashed Al Mahmud Titumir, included State Minister for Foreign Affairs Shama Obaed Islam, State Minister for Primary and Mass Education Boby Hajjaj, Prime Minister’s Adviser on Posts, Telecommunications and Information Technology and Science and Technology Rehan Asif Asad, Protocol Officer-2 Kamrul Islam, Deputy Press Secretary Md Jahidul Islam, Bangladesh Ambassador to the United States Tareq Md Ariful Islam and Consul General of Bangladesh in Los Angeles Kazi Muhammad Jabed Iqbal.

During the meeting, representatives of the government of Bangladesh and Plug and Play signed a cooperation document to advance collaboration, including exploring the establishment of one or more AI Centres of Excellence in Bangladesh.

Following the engagement, Plug and Play presented a strategic partnership proposal outlining a pathway to mobilise over $500 million in FDI by leveraging its international network of corporations, investors, startups and innovation partners.

The proposal identifies Bangladesh’s technology workforce, universities, High-Tech Parks, industrial capacity and growing market as important foundations for attracting global investment.

A key component of the proposal is the development of a Bangladesh Tech Center and AI Center of Excellence, designed to connect Bangladeshi startups, universities and technology talent with global corporate and investment networks.

Priority areas include ICT and AI, consumer electronics, light engineering, pharmaceuticals, advanced manufacturing and semiconductor testing and packaging.

The proposal also outlines practical pathways for investment mobilisation through startup and venture financing, international corporate engagement, workforce development, university-industry collaboration and efforts to attract multinational technology and manufacturing operations to Bangladesh.

The Bangladesh delegation welcomed Plug and Play’s proposal and emphasised the importance of moving from engagement to concrete, commercially viable projects capable of generating investment, quality employment, technology transfer, export opportunities and stronger integration of Bangladesh with global technology value chains.

Titumir said: “Our engagement with Plug and Play is focused on translating Bangladesh’s strengths in talent, entrepreneurship and industrial capacity into concrete investment and economic opportunities. We welcome their proposal and global network, and our priority now is to develop commercially viable initiatives that can bring investment, technology, quality employment and greater access to international markets.”

Saeed Amidi, founder and CEO of Plug and Play, said: “We see significant potential in Bangladesh. Its young technology talent, growing market, universities and expanding industrial base provide a strong foundation for innovation and investment. Through Plug and Play’s global ecosystem of corporations, startups and investors, we look forward to working with Bangladesh to explore opportunities in AI, advanced technology, startups and manufacturing, and to help connect the country with global capital and industry partners.”

The Consulate General of Bangladesh in Los Angeles will coordinate follow-up with Plug and Play, relevant government agencies and other stakeholders to advance the proposed areas of cooperation and facilitate further investor engagement.