CA Seeks to Attract Trump and Musk to Invest in Bangladesh

“Trump is a dealmaker, so I say to him: come, let’s make deals,” Yunus told The Guardian in an interview published on Monday. “If he doesn’t, Bangladesh may feel some pain. But the democratic process will move forward regardless,” he added.

The Biden administration had been a major supporter of Yunus, both politically and financially, but according to The Guardian, a potential return of Trump to power is unlikely to prioritize the restoration of democracy in Bangladesh. Trump’s drastic cuts to the U.S. Agency for International Development (USAID) in recent years have already harmed the country. USAID had pledged over $1 billion in assistance, particularly for strengthening Bangladesh’s political landscape, but Trump’s allegations about millions of USAID dollars funding a “radical left communist” election campaign — without evidence — have further strained relations.

In an effort to attract U.S. interest, Yunus recently invited Musk to bring his Starlink satellite internet service to Bangladesh. Sources close to Yunus suggest Musk could visit Bangladesh in April.

Meanwhile, tensions with former Prime Minister Sheikh Hasina are growing. Hasina, who was deposed following a student-led revolution, has increasingly targeted Yunus, calling him a “mobster” who is responsible for unleashing “terrorists” on the country. Yunus responded by saying India’s hosting of Hasina would be tolerated, but he warned that allowing her to use India as a platform to undermine the country’s progress could destabilize the region.

Yunus’ return to Bangladesh in August was marked by a country in turmoil. The Guardian describes streets slick with blood, and morgues overwhelmed with the bodies of protesters and children killed in the violent aftermath of Hasina’s rule. After 15 years of authoritarian control, Hasina was ousted by a revolution, and Yunus, at 84, found himself called upon to lead an interim government aimed at restoring democracy.

“Hasina left the country in ruins,” Yunus told The Guardian, recalling the devastation he witnessed upon taking charge. “It wasn’t just buildings destroyed — it was the institutions, the people, the international relationships.” Hasina’s regime had been marked by allegations of violence, tyranny, and corruption, culminating in a bloody crackdown on protests that led to over 1,400 deaths in July and August. While Hasina denies the use of excessive force, many view the violence as a “crime against humanity.”

Since Yunus assumed leadership, significant steps have been taken: senior police officers involved in extrajudicial killings have been prosecuted, secret detention centers have been dismantled, and human rights commissions established. Yunus is committed to holding the first free and fair elections in decades by March 2026, after which he intends to step down.

However, there is growing unease on the streets of Dhaka. Despite Yunus’ widespread respect, questions have been raised about his governance and the pace of promised reforms. Political parties, particularly the Bangladesh Nationalist Party (BNP), are increasingly calling for elections. Senior BNP figure Amir Khosru Mahmud Chowdhury emphasized that elections need to happen soon, noting that the interim government lacks political weight and mandate to carry out reforms effectively.

As crime and lawlessness rise in Dhaka, with gang violence and harassment of minority groups becoming rampant, Yunus’ leadership is under scrutiny. Protesters have even burned effigies of Jahangir Alam Chowdhury, the home affairs adviser, in response to his failure to address the security crisis. Yunus has denied claims that the streets are less safe than under Hasina’s regime, though others fear the country’s security could spiral out of control.

Student leader Nahid Islam, heading the new National Citizens Party, told The Guardian that free and fair elections are impossible in the current climate. A recent speech by Bangladesh’s army chief, Gen. Waker-Uz-Zaman, described the country as being in a “state of anarchy” and warned that continued unrest could jeopardize the nation’s sovereignty. While Yunus maintains he has a strong relationship with the military, some believe the general’s words could signal a warning of military intervention.

Yunus continues to frame Bangladesh’s woes as the result of Hasina’s corrupt and authoritarian rule. “Hasina’s regime wasn’t a government; it was a family of bandits,” Yunus said. “Any order from the boss, and it was done. Political opponents disappeared, elections were rigged, and money flowed freely from the state.”

The aftermath of Hasina’s regime has left the country’s economy in shambles, with the banking system exposed to corruption. Yunus also pointed to ongoing international efforts to recover the $17 billion allegedly stolen from Bangladesh’s banks by Hasina’s allies, though prospects for swift restitution remain slim.

In addition to internal challenges, Yunus faces external pressure. During Hasina’s time in power, Bangladesh enjoyed close relations with India, but those ties have deteriorated since her ouster. The Guardian reports that India has shown little interest in mending relations with Bangladesh under Yunus’ leadership, recently accusing Dhaka of “normalizing terrorism.”

In December, Yunus confirmed that Bangladesh had issued a formal extradition request for Hasina to face trial for crimes against humanity, but there has been “no response” from India. Despite this, Yunus vowed that Hasina would be held accountable, even if in absentia.

As Dr. Yunus seeks foreign investment and grapples with mounting political pressure, the road ahead remains uncertain. The coming months will likely shape the future of Bangladesh’s democracy and its relations with the world.