FE Today Logo
Search date: 09-04-2025 Return to current date: Click here

Aim is to project BD as investment hub: BIDA

FE REPORT | April 09, 2025 00:00:00


The Bangladesh Investment Summit 2025 seeks to position the country as an attractive destination for foreign investors while dispelling negative narratives about it, according to Bangladesh Investment Development Authority (BIDA).

Foreign investors attending the conference have inquired about business opportunities and challenges in Bangladesh, said BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun on Tuesday.

He made the remarks during a press briefing at InterContinental Dhaka, which was held as part of the ongoing summit organised by BIDA. The event's second day also saw remarks from Press Secretary to the Chief Adviser Shafiqul Alam.

The BIDA executive chair said the primary goal of the summit is networking.

"We are prioritising connections between investors and stakeholders. Foreign investors visiting export processing zones (EPZs) and economic zones have raised two key concerns.

"First, the incentives Bangladesh offers for doing business here, and second, the challenges faced by the existing investors and how to resolve them. They also sought clarity on government measures to reduce bureaucratic red tape," Ashik explained.

Answering a question, he said the Ease of Doing Business index is outdated and should no longer be the benchmark.

"Every global market faces challenges, and Bangladesh is no exception. We are actively addressing these issues and aim to resolve them within the next one to two years," said the BIDA chief.

Responding to queries on infrastructure, he said, "China has proposed developing a second port in Mongla, diversifying beyond Chattogram. We are also working on improving connectivity between ports."

"We are aware of a Chinese manufacturing firm that has faced delays in obtaining a licence for three and a half years. We will disclose further details, including the company's name and the reasons for the hold-up, after a week," he also said.

On employment generation, Ashik noted that while exact numbers cannot yet be predicted, the summit marks a crucial step in positioning Bangladesh as a viable investment hub.

Regarding US tariffs, he said, "The global economy is feeling the impact, not just Bangladesh. The chief adviser has already written to the Trump administration, and the letter has been made public."

He also confirmed that the government, in collaboration with the Japan International Cooperation Agency (JICA), is assessing the establishment of five economic zones, tailored to the geographic and utility advantages of the specific regions.

The four-day summit began on April 7 at InterContinental Dhaka.

The event has drawn investors from 40 countries, including the US, China, Japan, South Korea, and others.

Along with top corporate leaders, large delegations from numerous trade associations have also participated.

tonmoy.wardad@gmail.com


Share if you like