BIDA chief interacts with UK businesses

December 2, 2019

BIDA Executive Chairman Md. Sirazul Islam has urged more investments from UK, one of the biggest contributors of FDI to Bangladesh. He was attending a breakfast meeting co-hosted by the British Business Group (BBG) and H.E. UK High Commissioner Robert Chatterton Dickson on Monday (Nov 26) morning.

HSBC Bangladesh CEO Francois de Maricourt, also Chairman of the BBG, was present along with top representatives from Standard Chartered Bank, Unilever, GSK, Reckitt Benckiser, Marks & Spencer and KPMG. Deputy Trade Commissioner Rhiannon Harries, visiting from Delhi, was also present at the event.

“In terms of FDI net inflow, the UK stood third with US$358.85 million at the end last fiscal. We would urge UK to continue to trust Bangladesh and allow their investments to go over a billion in net inflow,” said the BIDA chief.

He thanked the UK government for supporting initiatives to improve the broader investment climate of Bangladesh. As the government’s key agency coordinating Doing Business initiatives, BIDA has boosted its efforts after achieving progress in World Bank’s latest Doing Business report, he said. “To reach double-digit ranking by 2021, we are aiming for the low-hanging fruits in terms of reforms. We are also coordinating efforts to improve policy framework and investor services,” said the BIDA chief.

During the briefing session, BBG members shared several suggestions and ideas. British investor Rakib Anwar said he wants to invest in health services and education by setting up a collaboration, which would allow Bangladesh doctors to work and train in the UK.  The BIDA chief responded to his proposal by offering to facilitate his plan through coordination with relevant ministries and agencies.   Doing Business: BIDA to work with BBG

A representative from the BBG will systematically work with BIDA’s team dedicated to Ease of Doing Business initiatives, as per a decision adopted during the briefing, said BIDA Director (Registration & Incentives) Md. Ariful Hoque. BIDA will also organise a full session on Doing Business with all BBG members, he added.