Pakistan’s Engro Holdings eyes investment in Bangladesh’s telecoms, energy

Engro Holdings, one of Pakistan’s conglomerates, is exploring potential investments in Bangladesh’s telecommunications and energy sectors.

Abdul Samad Dawood, vice chairman and chief executive officer of Engro, expressed the interest during a meeting with Chief Advisor Muhammad Yunus at the State Guest House Jamuna on Thursday.

According to a media statement issued by the Chief Advisor’s Office (CAO), Dawood conveyed a “deep interest” in expanding Engro’s footprint in Bangladesh.

“We are optimistic about the future of Bangladesh’s telecommunications sector,” Dawood said.

“We also want to be a partner in the industrial sector by distributing gas from Bhola.”

Yunus said his administration was committed to facilitating long-term, transformative investments.

“We want to focus on long-term projects that will bring real change in the lives of our people,” he said.

The Pakistani executive is in Dhaka to attend a four-day investment conference hosted by the Bangladesh Investment Development Authority (BIDA).

Dawood said, “I am overwhelmed to see so many leading companies under one roof.”

Yunus extended an invitation to Engro Holdings to return to Bangladesh for further exploration of investment prospects in diverse sectors.

“Our country has the potential to give a lot. Not only for investment but also for the world,” Yunus said.