Bangladesh’s total power generation capacity currently stands at a little over 18,000MW. The highest ever amount of power generated in the country was 11,059MW on July 7
The government is planning to increase the country’s power generation capacity to 20,000MW by September, with the aim of gradually supplying uninterrupted electricity, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said on Tuesday.
Such a feat will be another success story for the country’s power sector, the state minister said while addressing “Bangladesh-Singapore Business Forum” jointly organized by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Singapore Business Federation (SBF) at a Dhaka hotel on Tuesday.
“We are not saying that there will be uninterrupted power supply soon, but we can say that the overall performance in the power sector of Bangladesh is getting better every day,” he added.
Bangladesh’s total power generation capacity currently stands at a little over 18,000MW. The highest ever amount of power generated in the country was 11,059MW on July 7.
Speaking at the event, Nasrul invited Singapore businessmen to invest more in Bangladesh, saying Bangladesh is going to establish a power hub covering 7,000 hectares of land in Moheshkhali, Cox’s Bazar, where Chinese and Malaysian firms have expressed interest to invest in.
Mentioning that the Awami League-led government has paved the way for private investment in the power sector, Nasrul said Bangladesh has a master plan to generate 60,000MW of electricity by 2041.
He also suggested that more Singaporean businessmen invest in the energy sector of Bangladesh where the demand of liquefied petroleum gas is rising by 10% per annum.
The government is willing to have more investment from Singapore as Bangladesh is moving ahead with a plan to set up 100 special economic zones by 2030, he stated.
Kazi M Aminul Islam, executive chairman of Bangladesh Investment Development Authority (BIDA), said Bangladesh has seen major achievements in many sectors, especially in electricity, in the last nine years; power generation alone saw a six-fold rise compared to what was back in 2009.
Claiming that the new generation of local entrepreneurs are highly competent, Aminul said investors would benefit most in Bangladesh as half the country’s population is young, with a major segment being educated and skilled.
“The policy and infrastructural development activities of Bangladesh government is targeted towards encouraging more private and foreign investments,” he added.
The BIDA official also laid emphasis on strong political commitment to expand the trade relationship between Bangladesh and Singapore.
The event was also addressed by Bangladesh Business Chamber of Singapore President Md Shahiduzzaman, Singapore Business Federation Chairman Teo Siong Seng, and FBCCI President Md Shafiul Islam Mohiuddin, among others.