VEON Ltd., a global digital operator and parent company of Banglalink, committed an initial USD 250 million investment to accelerate digital and financial inclusion in Bangladesh. This capital anchors a new initiative aimed at attracting a total of USD 1 billion in foreign direct investment (FDI) to the country. The announcement follows a meeting between VEON's leadership and the Honourable Prime Minister of Bangladesh, Tarique Rahman, at the Prime Minister's Office in Dhaka.

The "Invest in Bangladesh NOW" initiative is proposed as a public-private partnership in collaboration with the Government of Bangladesh, including the Ministry of Posts, Telecommunications and ICT. VEON aims to leverage its global fintech expertise to establish a comprehensive digital finance ecosystem, offering accessible digital banking, microfinance, and micro-insurance services to underserved populations.

Investment Focus Areas

The proposed investment will target several key sectors to drive economic growth and technological advancement:

• Advanced connectivity and next-generation digital infrastructure
• Digital financial services
• Artificial intelligence (AI) solutions

VEON intends to use its global network to encourage other international investors to participate in Bangladesh's rapidly growing digital economy. The company plans to deepen its digital footprint through Banglalink by exploring new growth horizons, including digital banking, education, healthcare, agriculture, ride-sharing, and IoT solutions.

Leadership Commentary

Augie K Fabela II, Chairman and Founder of the Board of VEON Group, emphasized the company's long-term partnership with Bangladesh. He stated that VEON's USD 250 million commitment will anchor an ambitious program designed to help attract USD 1 billion in foreign direct investment. Fabela added that the company is fully aligned with the Government's vision for digital and financial transformation.

Kaan Terzioglu, CEO of VEON Group, highlighted that the investment reflects the company's commitment to high-growth markets. He noted that through Banglalink, VEON will accelerate the rollout of next-generation connectivity, scale inclusive digital financial services, and advance AI-powered solutions to strengthen Bangladesh's position as a promising digital economy.

Key Participants

The meeting at the Prime Minister's Office included high-ranking government officials and VEON executives:

VEON Ltd.'s digital operator in Uzbekistan, Beeline Uzbekistan, and DataVolt, a global developer and operator of large-scale data centers, signed two memorandums of understanding (MoUs) to support the development of Uzbekistan's digital infrastructure and accelerate the country's transformation into a regional digital hub. The agreements were announced at the Tashkent International Investment Forum. This partnership aims to support Uzbekistan's Digital Uzbekistan 2030 Strategy by enhancing cloud computing, artificial intelligence, and digital services across Central Asia.

Under the first MoU, which establishes agreed commercial terms, Beeline Uzbekistan will become a major tenant of DataVolt's flagship Tashkent IT Park data center, TAS-1. As an anchor tenant, Beeline Uzbekistan will secure access to substantial capacity within one of the country's most advanced data center facilities. This will support the continued expansion of its digital services portfolio and enable greater local hosting and processing of data.

The second MoU is non-binding and establishes a framework for evaluating the joint development and operation of a potential data center infrastructure project in Bukhara. This reflects a shared ambition to expand digital infrastructure capacity across Uzbekistan and reinforces DataVolt's long-term commitment to investing in the country's digital economy.

Kaan Terzioglu, Chief Executive Officer of VEON Group, emphasized the strategic importance of sovereign data storage and processing. He stated that the partnership with DataVolt helps lay the foundation for Uzbekistan to become the digital hub of Central Asia and a destination for the next generation of digital investment.

Evgeniy Nastradin, CEO of Beeline Uzbekistan, highlighted that telecommunications networks are becoming platforms for distributing computing power and digital intelligence. He noted that developing world-class data center infrastructure with DataVolt creates the foundation for AI services, local data processing, and digital innovation at scale.

Together, these initiatives are expected to increase the availability of high-quality digital infrastructure, enhance access to cloud and AI services, strengthen data localization capabilities, and further position Uzbekistan as a leading digital hub for Central Asia.