The Foreign Investors’ Chamber of Commerce and Industry (Ficci) has called for urgent reforms, increased domestic gas exploration, and accelerated investment in renewable energy to strengthen Bangladesh’s energy security, improve industrial competitiveness, and attract long-term investment.
The call came at a high-level luncheon meeting titled “Sustainable Power and Energy: Driving Investment in Bangladesh,” held Monday in Dhaka to discuss the country’s energy challenges and identify practical solutions for a reliable, affordable, and sustainable energy future.
The meeting was graced by Amir Khasru Mahmud Chowdhury, MP, Minister for Finance and Planning, as chief guest.
Shafiqul Alam, lead analyst, Bangladesh Energy, South Asia, Institute for Energy Economics and Financial Analysis (IEEFA), delivered the keynote address.
The panel discussion was moderated by Mahbub ur Rahman, CEO, HSBC Bangladesh and former director of the Ficci board, and featured Shu Xiong, president and managing director, Chevron Bangladesh; Prof Mohammad Tamim, vice chancellor, Independent University, Bangladesh; Nazneen Ahmed, executive director, Centre for Policy Dialogue (CPD); and Fazlul Hoque, administrator, FBCCI.
Finance and Planning Minister Amir Khasru Mahmud Chowdhury, MP acknowledged the significant energy and economic challenges facing Bangladesh, noting that the government had been addressing an energy crisis alongside inherited financial liabilities and structural weaknesses.
He expressed confidence that the economy, including the energy sector, would begin to stabilize by the second year of the government’s tenure, with stronger growth expected in the following years.
He emphasized the need to reduce the cost of doing business, improve the investment climate and strengthen the competitiveness of domestic industries through reforms and deregulation.
The Minister further underscored the importance of comprehensive reforms in taxation, banking and capital markets to restore confidence and facilitate investment.
Referring to plans to separate the National Board of Revenue’s policy-making and enforcement functions, he said the government was pursuing measures to improve efficiency, transparency and accountability.
He called on the private sector to work collaboratively with the government through this transition, expressing optimism that ongoing reforms and investment initiatives would strengthen macroeconomic stability, improve the business environment and support Bangladesh’s long-term economic growth.
Ficci president Rupali Haque Chowdhury highlighted how global energy disruptions have exposed Bangladesh’s vulnerability to imported fuels, raising industrial costs, disrupting production, and creating uncertainty for businesses.
She stressed that energy security must go beyond ensuring supply to making energy reliable, affordable, and sustainable. She called for stronger domestic gas exploration, diversified LNG sourcing, modernized infrastructure, improved energy efficiency, and faster renewable energy investment.
She also underscored the importance of regional cooperation and greater private-sector participation in building a resilient energy system to support industrial growth, export diversification, and job creation.
Delivering the keynote, Shafiqul Alam highlighted Bangladesh’s growing energy challenges, driven by declining domestic gas reserves, rising LNG imports, and volatile global fuel prices.
He noted that domestic gas reserves could be depleted by 2036 without new discoveries, increasing pressure on power generation costs, industrial competitiveness, and household affordability.
During the panel discussion, the speakers highlighted the need for stronger domestic gas exploration, investment-friendly policies, and a diversified energy mix to ensure energy security and affordability.
Shu Xiong stressed the importance of a stable regulatory environment to attract long-term foreign investment, while Prof Mohammad Tamim emphasized balancing domestic gas production with renewable energy.
Fazlul Hoque highlighted the impact of energy shortages and rising costs on industrial productivity and investment, calling for greater support for rooftop solar and green financing.
Nazneen Ahmed underscored the importance of attracting foreign investment while maintaining fiscal sustainability and affordable energy.
Ficci board director Shadab Ahmed Khan delivered the vote of thanks.
