Symposium builds momentum for initiative targeting USD 1 billion in foreign direct investment in Bangladesh's digital economy, anchored by VEON's USD 250 million commitment
Dubai, United Arab Emirates and New York, September 28, 2026 - VEON Ltd. (Nasdaq: VEON), a global digital operator, and its operating subsidiary in Bangladesh, Banglalink, on Thursday hosted the inaugural investor symposium for the “Invest in Bangladesh NOW!” initiative in New York City, on the sidelines of the United Nations General Assembly. The closed-door roundtable brought together global investors, development finance institutions and Bangladeshi government officials to discuss investment opportunities in Bangladesh’s digital economy.
VEON’s “Invest in Bangladesh NOW!” initiative, launched earlier this year, is a proposed public-private partnership with the Government of Bangladesh and is anchored by VEON’s initial USD 250 million capital commitment, with the broader ambition of mobilizing USD 1 billion in total foreign direct investment into the country’s digital economy. This week’s symposium marks the first major international event under the initiative, bringing the investment case for Bangladesh directly to the global capital community in New York.
The event was attended by Bangladesh's Honorable Finance Minister Amir Khosru Mahmud Chowdhury, alongside senior officials from the Government of Bangladesh. Also in attendance were senior representatives from the Government of the UAE, the US Department of State, and leading global investors and development finance institutions including BlackRock, Rothschild, the IFC and the World Bank.
“Bangladesh’s digital transformation creates a compelling opportunity for long-term investment,” said Kaan Terzioglu, Chief Executive Officer of VEON. “We are backing that opportunity with a USD 250 million commitment and bringing international partners together to help mobilize USD 1 billion into the country’s digital economy. Through Banglalink, we are expanding from connectivity into digital services that help people make payments, access opportunities and participate more fully in the economy. Our ambition is to turn investment into a better life for all.”
“VEON invests in markets whose digital potential is still underappreciated by global capital,” said Augie K Fabela II, Chairman and Founder of VEON. “Bangladesh is home to more than 170 million people, a young and ambitious population, and a digital economy that is accelerating quickly. Putting our own capital in first, ahead of other investors, reflects our long-term confidence in what this country is building.”
The event also spotlighted recent milestones in Banglalink's digital expansion. The company has received approval from the Bangladesh Telecommunication Regulatory Commission (BTRC) to launch Starlink Direct-to-Cell satellite-to-mobile service, which will let compatible phones connect directly to satellites in areas without conventional coverage. This will make Bangladesh the first country in South Asia to introduce the technology. The Finance Minister also announced approval of a new digital bank license backed by VEON, Banglalink and Square Group, and this week Banglalink separately launched Mukto Pay, its new digital payments platform for transfers, merchant and bill payments, and disbursements.
“Today marks a defining moment in Banglalink’s evolution as a digital operator,” said Johan Buse, Chief Executive Officer of Banglalink. “By bringing together the world’s leading investors and development finance institutions in New York, VEON has created a platform for Bangladesh that we believe will generate real, sustained investment in our country’s digital future, and we are proud to be at the center of that story.”
About VEON
VEON is a digital operator that provides connectivity and digital services to more than 150 million connectivity customers and more than 228 million digital customers. Operating across five countries that are home to 550 million consumers, more than 6% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com/.
About Banglalink
Banglalink, the country’s leading digital operator, places people at the heart of everything it does. Guided by a people first approach rooted in care, Banglalink works to make digital and financial services more accessible and meaningful in everyday life, ultimately making a better life for all. The company offers a range of digital solutions, including the MyBL super app, the country’s largest entertainment platform Toffee, and RYZE, the country’s first AI powered digital lifestyle brand for youth. Banglalink is a fully owned subsidiary of VEON, a Nasdaq listed global digital operator headquartered in Dubai.
Forward-Looking Statements
This press release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements relating to, among other things, VEON’s planned investment program in Bangladesh, the commercial development of Mukto Pay and Banglalink’s digital financial services, and the potential for additional investments and partnerships in Bangladesh. There are numerous risks and uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to VEON’s operations in Bangladesh, regulatory approvals, macroeconomic and political conditions, and other factors discussed in the section entitled “Risk Factors” in VEON’s most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission, as amended and supplemented from time to time, and in any subsequent filings with the SEC by VEON. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update or revise them, other than to the extent required by applicable law.
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