Bangladesh seeks foreign investments in D-8 energy forum

Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood has sought foreign investment in Bangladesh's energy sector to ensure the country's energy security.

"Bangladesh requires substantial investment in energy infrastructure to support industrial growth, trade competitiveness and economic prosperity," he said while speaking at the "Baku Energy Forum 2026" in Azerbaijan, according to a press release issued today (4 June).

He said the government is committed to a "Bangladesh First" approach, where energy security, affordability and sustainability remain central to the country's national development strategy.

Mahmood attended the Ministerial Plenary Session, Segment 1, on International Cooperation for a Resilient and Diversified Energy Future in Baku on 1 June.

Addressing the session, he sought investment in onshore and offshore bidding rounds, a land-based LNG terminal, a second oil refinery and renewable energy expansion.

Mahmood said the government launched offshore bidding rounds last month, with a six-month timeline extending until November 2026, as part of its election commitment to emphasise domestic resource exploration.

"We have updated the fiscal and commercial terms to make the investment environment more attractive to investors," he added.

The minister said renewable energy has been given another key strategic priority, with a target of generating 10,000MW of electricity from renewable sources by 2030.

"Cooperation among D-8 countries in the hydrocarbon sector is critical. Bangladesh believes that hydrocarbons continue to play a vital role in ensuring a reliable and affordable energy supply," he said.

Bangladesh is keen to learn from countries with experience in renewable energy expansion and carbon market processing, he said.

"We are also interested in welcoming investors from countries with renewable energy expertise to invest in Bangladesh," he added