BIDA opens 44 SOEs to private investment

The Bangladesh Investment Development Authority (BIDA) on Sunday unveiled investment portfolios for 44 state-owned enterprises (SOEs), inviting private sector participation to revive underperforming industrial assets, create jobs and reduce the government's fiscal burden.

Under the initiative, local and foreign investors will be able to invest in the enterprises through public-private partnerships (PPPs), joint ventures, long-term leases and other partnership models.

Announcing the initiative, BIDA Executive Chairman Ashik Chowdhury said 44 investment opportunities had been identified across state-owned enterprises in the steel, textiles, chemicals, sugar, food and jute sectors, covering more than 10,000 acres of land.

In a statement posted on social media, he said: "We are calling on investors to join us in revitalising state-owned enterprises through private sector investment. This win-win approach offers the private sector an opportunity to grow through plug-and-play industrial facilities, while the government benefits from job creation and a lower fiscal burden."

He said many of the enterprises were located on strategically important land with existing utilities, transport links and, in many cases, established industrial communities.

"We are speaking to both local and foreign investors about bringing these assets back into productive use," he said.

He added that investors would have a clear pathway to acquiring or operating these assets through transparent structures, faster approvals and coordinated facilitation.

Interested investors have been advised to visit BIDA's website for detailed information.

The portfolio comprises four industrial units or sites under the Bangladesh Steel and Engineering Corporation (BSEC), 10 under the Bangladesh Chemical Industries Corporation (BCIC), 13 under the Bangladesh Sugar and Food Industries Corporation (BSFIC), 12 under the Bangladesh Textile Mills Corporation (BTMC), and five under the Bangladesh Jute Mills Corporation (BJMC).

The announcement follows a meeting on Saturday at which Prime Minister Tarique Rahman directed the authorities concerned to expedite the reopening of suspended and loss-making state-owned factories by attracting both domestic and foreign investment.

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