The government will invest around $50 billion in the next five years in the power sector in order to increase electricity generation and capacity building for transmission and distribution system. The power sector is being particularly targeted for expansion, with both foreign and government investment lined up in the coming years.
Many countries including Russia, the United States, Germany, Japan, China, India and South Korea have shown interest to invest in the country’s power and energy sector in part due to the investment-friendly environment. The power sector has undergone massive growth in the last ten years, with investment of around $20 billion. The country’s power generation capacity increased significantly during that period.
The government is targeting to generate 60,000 MW of electricity by 2041. Foreign investment is being welcomed through an investment-friendly environment. Under the current government’s leadership, Bangladesh has achieved remarkable success in power generation and many internationally renowned companies have already invested in the country’s power and energy sector.
Further investment in the power sector
will increase Bangladesh’s electricity
output which will help close the gap between
supply and demand
Further investment in the power sector will increase Bangladesh’s electricity output which will help close the gap between supply and demand. Currently, the demand for electricity is on the rise, with increasing population as well as fast economic growth.
More and more regions which were previously isolated have been connected to the electricity grid. Many rural areas and small towns now have access to electricity. Moreover, thanks to improved communication, these areas have quickly developed and therefore the demand for electricity is much higher than it was in the past.
Investment in the power and energy sector is a timely initiative on the government’s part which will ensure development and improve infrastructure. The government must further support the investors with logistical support and other resources in order to make the process smoother.