US AI, Chip firms eye over $1bn investment in Bangladesh: Bobby Hajjaj

Several US artificial intelligence and semiconductor companies have expressed interest in investing more than $1 billion in Bangladesh, according to State Minister for Primary and Mass Education Bobby Hajjaj.

The interest was discussed at a high-level roundtable on technology investment, technology transfer and long-term strategic partnerships held in East Palo Alto, California, on September 28.

The roundtable, titled “Technology Investment and Strategic Partnerships for Bangladesh’s Growth”, brought together senior executives from the US technology sector and members of a Bangladeshi government delegation.

Discussions also focused on international investment, AI and data infrastructure, semiconductor technology, high-tech industries, technology transfer, skills development, research and innovation.

Hajjaj said Bangladesh had significant potential to attract international investment in technology, particularly in AI and semiconductors. He said turning investor interest into actual investment would require stronger technology-transfer mechanisms, skilled manpower, research capacity and a business-friendly investment environment.

He also said investment in AI and data infrastructure, semiconductor technology and high-tech industries could help diversify Bangladesh’s economy and create new employment opportunities.

The Bangladeshi delegation included Prime Minister’s Adviser for Finance and Planning Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Shama Obaed Islam and Prime Minister’s Adviser for Posts, Telecommunications and IT and Science and Technology Rehan Asif Asad.

The discussion was moderated by Shamim Mohammad, executive vice president and chief information and technology officer of CarMax, and attended by senior US technology executives.

However, the state minister’s office did not identify the companies that expressed interest in investing more than $1 billion. It also did not disclose any specific investment projects, timelines or whether any formal agreement or memorandum of understanding had been signed.

Bangladesh’s semiconductor sector has been seeking greater international partnerships, with recent initiatives focusing primarily on chip design, testing, assembly, skills development and technology collaboration.