Prime Minister’s Power, Energy and Mineral Resources Affairs Adviser Dr Tawfiq-e-Elahi Chowdhury,  has encouraged the US companies for oil and gas exploration in Bangladesh's offshore areas and to look at the prospects of nuclear power modular reactors in Bangladesh. He also urged the US government to invest more through its International Development Finance Corporation (DFC) in Bangladesh's renewable energy sector. The adviser made the request to US Under Secretary of State for Economic Growth, Energy, and Environment Jose W. Fernandez at a meeting held at the US Department of State in Washington DC on Thursday. Dr Chowdhury and Under Secretary Fernandez discussed the existing bilateral energy cooperation and explored possible ways to strengthen it further. The Energy Adviser briefed the Under Secretary on the policies adopted by the government of Prime Minister Sheikh Hasina to make Bangladesh self-reliant in power and energy, said the Embassy in a media release on Friday. Read: I told India to help maintain stability in Bangladesh, Momen clarifies He also highlighted how the Bangladesh government was diversifying its power generation using energy from various sources like gas, oil and coal, nuclear as well as renewables. Mentioning that the current global energy shortages caused by the Ukraine war had placed many countries including Bangladesh at risk in sustaining their energy securities, the Adviser sought the US attention to play its role to improve the situations. Dr Chowdhury emphasized that the US should come forward with more investment in countries like Bangladesh through DFC financing. The US Under Secretary appreciated Bangladesh's impressive socio-economic growth and achievements in poverty reduction. Acknowledging that the Ukraine war was affecting countries of the world, the US did not impose sanctions on essential commodities like food, energy or fertilizers, Fernandez told the Adviser.

Prime Minister Sheikh Hasina on Tuesday said Bangladesh needs enhanced investment from its friendly countries, especially from the USA, as it aspires to become a developed and prosperous country by 2041.“Bangladesh has been recommended to graduate from the LDC in 2026. We are aspiring to become a developed and prosperous country by 2041. For that purpose, we need enhanced investment from our friendly countries, especially from the USA,” she said.The prime minister said this at a meeting with the first-ever visiting Executive Business Delegation of the US-Bangladesh Business Council at her official residence Ganobhaban.She said that Bangladesh is now an attractive investment destination. Along with physical infrastructure, the government has upgraded and eased the rules and regulations relating to investment and business.“Bangladesh has the most liberal investment policy in South Asia and that foreign investment is protected by acts of Parliament and bilateral treaties,” she said. Also read: PM urges ADB to finance Bangladesh's Delta Plan 2100Highlighting her government's development programmes she mentioned that the entire country has recently been brought under electricity coverage.“We are upgrading our road, railway and water communications by implementing some mega projects,” she said.Hasina told the delegation that her government is setting up 100 special economic zones for domestic and foreign investors across the country.“We may earmark one of the zones exclusively for the US investors, if you desire so,” she said.She said that demographic dividend, and government’s focus on developing skilled manpower ensures that investors here get skilled human resources at competitive wages.The prime minister said that Bangladesh-US friendship is based on common values and shared interests and it is reflected in expanding overall business relations.“Our trade relations can be further strengthened with duty-free access and other trade privileges in the US market,” she said.In this regard she said Bangladesh is ready to commence Free Trade Agreement-FTA negotiations with the US at an appropriate time.She mentioned that export volume increased by more than USD 3 billion during the last five years. The export volume rose to USD 7.6 billion in 2021-22 from USD 5.8 billion in 2016-17.Since independence, she said, the US has been one of the trusted development partners and it is contributing to Bangladesh’s socio-economic progress. The USA is the single largest source of FDI and export market for Bangladesh.“I believe US companies will take the advantage and invest more in potential sectors like power and energy, ICT, infrastructure, light engineering products, mobile phone and electronic goods, automobile, agro-processing, pharmaceuticals, ceramics, among others.” Also read: Don’t go to foreigners with complaints: PM to labour leadersShe said that the government is pursuing a long-term growth strategy for its citizens which is sustainable as acknowledged by the global economists and organisations.Hasina said that the government has taken pledge to realise the “Golden Bangla’’, the dream of Father of the Nation Bangabandhu Sheikh Mujibur Rahman to turn Bangladesh into a poverty- and hunger-free prosperous country.“With such strong prospect, I would now assure you of the best possible policy framework to ease our business and investment climate," she told the delegation.She hoped that the US-Bangladesh Energy Taskforce which was launched in September 2021 will help advance energy cooperation between the stakeholders of both countries.“Likewise, the proposed US-Bangladesh Digital Economy Taskforce will contribute in deepening the cooperation of companies of both countries to ensure our sustainable development.”She hoped that the business delegation would be able to understand the congenial atmosphere and feel confident for their potential investment in Bangladesh.In this connection, she said that Bangladesh is now recognised for the state-of-the-art manufacturing factories in various sectors like RMG, leather, plastic, jute, ICT, agro-processing and many more.“It is our TIME now and please make your TIME taking opportunities of our conducive investment regime. I wish every success of the US-Bangladesh Business Council,” she said.Board Chair of US-Bangladesh Business Council Jay R. Pryor,Board members of the US-Bangladesh Business Council andbusiness executives from Bangladesh and US also spoke at the meeting.

Foreign Minister Dr AK Abdul Momen on Thursday sought investment from US companies in diversified areas as Bangladesh offers plenty of opportunities for foreign investors. “Here is a place to make money through investment, you’re most welcome to make investment in Bangladesh,” he said. Dr Momen described the relationship between Bangladesh and the United States “very strong” which will be much stronger in the days to come. Read: Bangladesh removed from India’s "red list": FM The Foreign Minister said the US can diversify its investment in Bangladesh and renewable energy is an area for the US companies to invest. He said there are huge potentials for closer cooperation as the two countries have a very strong relationship. “There’s a scope for improving our investment and trade relations. We’ll be doing much better in the coming days.” Dr Momen was addressing a function marking the 25th anniversary of the American Chamber of Commerce in Bangladesh (AmCham Bangladesh) at a city hotel.   Prime Minister’s Private Sector Industry and Investment Adviser Salman F Rahman, US Ambassador to Bangladesh Earl R Miller and AmCham President Syed Ershad Ahmed also spoke on the occasion.

Prime Minister's Adviser for Power, Energy and Mineral Resources Dr Tawfiq-E-Elahi Chowdhury has encouraged the US companies, including ExxonMobil, to invest in oil and gas explorations in Bangladesh, particularly the offshore ones. He held a meeting with the senior officials of ExxonMobil, one of the world's largest publicly traded international oil and gas companies, Friday at the Bangladesh Embassy in Washington DC and welcomed their contributions to Bangladesh's energy sector, highlighting the crucial role of the US companies in this area. Also, the adviser focused on the need for investment in building storage facilities for renewable energy in Bangladesh. Having a balanced mix of energy sources is critical for Bangladesh and its development, he said. Read: Bangladesh seeks US investment for regional power distribution Dr Tawfiq acknowledged that the companies like ExxonMobil, which are looking for liquefied natural gas (LNG) businesses in Bangladesh, require guarantying hedges against the price volatilities. He asked ExxonMobil to expedite deep-sea exploration and to invest in upgrading transmission networks and land-based facilities. ExxonMobil expressed a keen interest in working with Bangladesh to support the country's current pace of development and ensure access to energy. Read: US investors: Bangladesh showcases its capital market potential Bangladesh Ambassador to the USA M Shahidul Islam and senior officials from Bangladesh Embassy and ExxonMobil were present at the meeting. Later, a memorandum of understanding (MoU) was signed between Summit Oil and Shipping Co. Ltd and Commonwealth LNG at the Bangladesh Embassy in Washington DC in the presence of Dr Tawfiq. The adviser welcomed the signing of the MoU as an important step towards further expanding the existing energy cooperation between Bangladesh and the US.

Sylhet, Sept 4 (UNB) – US Ambassador to Bangladesh Earl R Miller has said they were working on how US companies can make investment in Sylhet and vice versa.