Govt Mulls Incentives for Bangladeshis Who Attract Foreign Investment: BIDA Chief
The government is exploring the possibility of offering incentives to Bangladeshis who contribute to the country’s foreign investment inflows, according to Chowdhury Ashik Mahmud bin Harun, Executive Chairman of the Bangladesh Investment Development Authority (BIDA).
He shared these insights during a press briefing held on 13 April at the Foreign Service Academy in Dhaka’s Bailey Road. The event was also attended by Chief Adviser’s Press Secretary Shafiqul Alam and BIDA’s Business Development Chief Nahiyan Rahman, among others.
Ashik revealed that during a governing board meeting of BIDA and the Bangladesh Economic Zones Authority (BEZA) on 12 April, chaired by Chief Adviser Muhammad Yunus, discussions were held about creating a rewards system similar to the one for remittance senders. Officials were instructed to explore practical methods for implementing such incentives for those who bring in foreign investment.
The BIDA chief also spoke about steps being taken to streamline investment services. “Currently, several agencies including BIDA and BEZA offer one-stop services both online and offline. But a decision has been made to transition all services to a fully digital platform within a month,” he stated. A unified portal integrating all one-stop services is also in the works.
In a significant move, the long-pending proposal to bring the Korean Export Processing Zone (KEPZ) under BEZA’s jurisdiction was formally approved at the recent board meeting. “With this decision, KEPZ will now officially operate under BEZA,” Ashik confirmed.
He also mentioned that Chief Adviser Muhammad Yunus has reiterated plans to set up a dedicated economic zone for Nepal. Additionally, a directive has been issued to bring eight investment-related agencies under a common framework, with board meetings of BEZA and BIDA to be held every quarter going forward.
The government is also considering the development of a Free Trade Zone around the Matarbari deep-sea port. This initiative aims to facilitate economic cooperation with upstream countries like Nepal, Bhutan, and China.
Ashik emphasized that future economic zones will only be declared after inter-ministerial consultations, ensuring the inclusion and commitment of utility service providers to support the infrastructure and service demands of those zones.
As Chairman of both BIDA and BEZA, Ashik concluded by reaffirming the government’s commitment to fostering a more efficient and investor-friendly environment to drive national growth.