Staff Reporter:
A comprehensive 180-day joint action plan was unveiled on Sunday evening to overhaul the investment climate in Bangladesh.
The plan was presented to Prime Minister Tarique Rahman by Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Ashik Chowdhury, according to a press release issued yes-terday.
The roadmap coordinates the strategic efforts of the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA), Public-Private Partnership Authority (PPPA) and the Maheshkhali Integrated Development Authority (MIDA).
“Our plan is centered on building an investment-led economy, accelerating employment creation and increasing both domestic and foreign investment in Bangladesh through focused, implementation-driven reforms,” said Ashik Chowdhury.
He said that amid global economic uncertainty, the immediate priority is to support and accelerate in-vestment by local investors while continuing to facilitate foreign investment.
“Our growth strategy at this stage is centered on enabling local investors to expand and supporting those already operating in Bangladesh to increase their investments,” he added.
The 180-day roadmap has been structured around 25 initiatives under three key pillars – robust infra-structure, investment facilitation and investment development.
Of the initiatives, 13 fall under robust infrastructure aimed at improving logistics and investment ena-blers, seven under investment facilitation to enhance investor support and service quality, and five under investment development to drive targeted investment and sector-based growth (20%).
Under the infrastructure pillar, priority initiatives include port modernization, implementation of the Chinese Economic Zone, expansion of ready-to-use industrial park plots, advancement of the Free Trade Zone and Defence Economic Zone, and revitalization of state-owned enterprises through public-private partnership (PPP), foreign investment and conversion into economic zones.
The plan also includes measures to strengthen energy initiatives and explore alternative energy options.
Under investment facilitation, emphasis has been placed on institutional reform and improved investor services.
Key initiatives include unifying investment promotion agencies such as BIDA, BEZA, BEPZA, BHTPA and PPPA, progressing negotiations on the Bangladesh-South Korea Free Trade Agreement (FTA), es-tablishing a private sector advisory council headed by the prime minister, strengthening inter-ministerial coordination and launching BanglaBiz as a single-window digital platform for investors.
The roadmap also includes targeted resolution of issues faced by major investors and plans to establish BIDA’s first overseas office in China.
Under the investment development pillar, the plan prioritizes nationwide industry mapping, building a foreign direct investment (FDI) pipeline in priority sectors such as agribusiness, pharmaceuticals, leath-er, textiles and information technology from key partner countries.
The initiative will also focus on developing the blue economy through deep-sea fishing, mariculture and export-oriented shrimp processing, along with introducing a new FDI incentive scheme.
Together, these initiatives reflecting the government’s manifesto are coordinated efforts to improve infra-structure, strengthen facilitation, and build a stronger pipeline of future investment opportunities for Bangladesh.
