UNB, Dhaka :
Norwegian Government Pension Fund Global, the world’s largest sovereign wealth fund, has substantially expanded its investment in Bangladesh, showing a six-fold expansion.
Pension Fund invested in Bangladeshi stocks for the first time in 2015, the total was a modest US$ 19 million. By the end of 2016, the fund’s investment had grown six folds to US$ 112 million in 15 Bangladeshi companies on Dhaka stock exchange.
“The significant growth in investments in Bangladesh by the Norwegian Government Pension Fund Global is very positive. I see this as a confirmation that the Bangladeshi economy is maturing and companies are regarded as promising investments,” Norwegian Ambassador Sidsel Bleken was quoted in a statement on Monday as saying. She said investments by the Fund is done on a strictly commercial basis and is not an expression of political preferences or decisions, according to an official Facebook post shared by the Norwegian Embassy in Dhaka.
The Fund has clear expectations of companies in areas such as corporate governance, shareholder rights, social issues and the environment.
Norwegian Government Pension Fund Global, the world’s largest sovereign wealth fund, has substantially expanded its investment in Bangladesh, showing a six-fold expansion.
Pension Fund invested in Bangladeshi stocks for the first time in 2015, the total was a modest US$ 19 million. By the end of 2016, the fund’s investment had grown six folds to US$ 112 million in 15 Bangladeshi companies on Dhaka stock exchange.
“The significant growth in investments in Bangladesh by the Norwegian Government Pension Fund Global is very positive. I see this as a confirmation that the Bangladeshi economy is maturing and companies are regarded as promising investments,” Norwegian Ambassador Sidsel Bleken was quoted in a statement on Monday as saying. She said investments by the Fund is done on a strictly commercial basis and is not an expression of political preferences or decisions, according to an official Facebook post shared by the Norwegian Embassy in Dhaka.
The Fund has clear expectations of companies in areas such as corporate governance, shareholder rights, social issues and the environment.
