Seoul:Bangladesh has expressed a strong interest in enhancing Korean investments in various sectors, particularly artificial intelligence (AI), infrastructure, advanced manufacturing, and digital technologies. This move aims to elevate bilateral economic cooperation beyond the traditional realms of concessional development financing.
According to United News of Bangladesh, the discussions took place during a series of meetings involving a delegation from Bangladesh, led by Finance and Planning Minister Amir Khosru Mahmud Chowdhury, with senior South Korean government officials, financial institutions, technology companies, and business representatives in Seoul. The focus of these discussions was on mobilizing Korean institutional capital and attracting private-sector investments to develop AI capabilities and expedite key infrastructure projects in Bangladesh.
During a meeting with the Export-Import Bank of Korea (KEXIM), both parties reviewed the US$3 billion Economic Development Cooperation Fund (EDCF) Framework Arrangement for 2023-2027, covering priority projects like the southern route of Dhaka Metro Rail Line-5 and the Matlab Uttar-Gazaria Bridge. Bangladesh also proposed a roadmap for utilizing remaining EDCF resources and sought cooperation in emerging areas like AI, digital transformation, and smart infrastructure.
Further, a meeting with Chang Huh, South Korea's second Vice Minister of Finance and Economy, saw Bangladesh urging for elevated bilateral relations and highlighting investment opportunities in sectors like advanced manufacturing and digital technologies. The Korean side showed readiness to continue discussions on AI and digital transformation.
Moreover, discussions with the Korea Investment Corporation (KIC) centered around investment opportunities in infrastructure and renewable energy, with the proposal of a potential Bangladesh Sovereign Fund discussed as a possible investment vehicle. The delegation also explored AI applications with LG AI Research and FuriosaAI, aiming to develop a Bangladeshi large language model and strengthen the country's AI ecosystem.
Finally, meetings with major Korean companies, including Samsung C and T, focused on potential cooperation in infrastructure and renewable energy. The visit concluded with a business roundtable organized by Youngone, where Bangladesh emphasized opportunities in light engineering and component manufacturing, encouraging joint ventures and technology transfer. Both sides committed to continuing consultations to translate these discussions into tangible projects and partnerships.