US firms keen to explore renewable energy resources in Bangladesh

Growth rate, macroeconomic stability, population and growth of middle class attract US companies, Ambassador Peter Haas says

US firms keen to explore renewable energy resources in Bangladesh
Solar Plant

United States Ambassador Peter Haas on Thursday said American companies are very interested in exploring clean and renewable energies opportunities in Bangladesh and Washington has been providing them with support in this regard.

"We (the US government) will be here and our companies will be here, and we as a government do anything to support them," he said.

The envoy was talking with reporters after visiting the under-construction Summit Meghnaghat II Power Plant and Summit Bibiyana Power Plant.

The ambassador said the US companies in Bangladesh are not only emphasizing traditional energy areas like power generation or exploration of gas fields but also looking for exploring sources of renewable energy.

Besides, the envoy, said the American companies are interested in deep-sea exploration of gas.

"American companies are looking for the possibilities, they are looking at what data available and what the opportunities are, and I am pretty confident that if anyone thinks there is enough gas there to make profit, they will do it," he said.

The envoy said US companies are keen to partner with Bangladeshi companies to provide investment to help Bangladesh become a developed country by 2041.

"We have from the Trade Show last week, where US companies are very eager to come to Bangladesh and to partner with Bangladeshi companies to provide investment here to be able to help Bangladesh, make the transition, meet the goal of becoming a developed country by 2041," he said.

However, Haas said, like other investors, US companies also want assurance of stability, rule of law, lack of corruption and ability to take the profits.

"So I don't think the American companies look for anything else (in Bangladesh) that other investors look for," he said.

He expressed his happiness about his visit after seeing how US companies can work together with Bangladeshi companies to help Bangladesh in its energy needs, making the transition through the developing country to eventually a developed country.

"This plant provides energy for up to 700,000 households here and it's with US technology, the US knows how to partner with Bangladeshi companies," he added.

Talking about the direct foreign investment in Bangladesh the envoy said: "Let me start with the opportunities in Bangladesh, because that is what draws US companies' attention, growth rate, the macroeconomic stability, the population, the growth of the middle class, and all of those things attract American companies' attention."