Investment News

BIDA marks 4th Founding Anniversary

Sep 01, 2016

BIDA has marked the 4th founding day anniversary by renewing its commitment towards effective delivery of services for promoting and facilitating the growth of private investments. BIDA was established as the country’s apex investment promotion agency on Sept 1, 2016 through the merger of the former Board of Investment and the Privatisation Commission. “Around 65 per cent of foreign and domestic projects worth $11 billion have been actualised in the past four years, thanks to BIDA’s hard work,” said BIDA Executive Chairman Md. Sirazul Islam, during a media briefing organised at BIDA’s Agargaon office. “We have raised the number of services on our online One Stop Service to 21. By the end of this year, we hope to make 50 services available,” he said. He also responded to questions on business climate reforms. “We have taken on tougher reforms, including legal reforms, to achieve double-digit Doing Business ranking by 2021.” In another ceremony held later in the day, BIDA hosted a discussion on the way forward in the presence of Dr. Ahmad Kaikaus, Principal Secretary to HPM. During his address, Dr. Kaikaus stressed on the importance of knowledge-based systems, such as cost-benefit analysis, for delivering facilities related to business. He urged BIDA officials to go beyond themselves to secure much-needed investments for Bangladesh