BIDA to host Int’l Investment Conference on April 7-10

Staff Reporter Published: 15 January 2025, 06:06 PM | Updated: 15 January 2025, 06:08 PM
BIDA to host Int’l Investment Conference on April 7-10

The Bangladesh Investment Development Authority (BIDA) will host a four-day International Investment Conference from April 7 to 10, as announced by BIDA Executive Chairman Chowdhury Ashiq Mahmud Bin Harun.

Speaking at a seminar titled Investment Prospects and Challenges, organised by the Economic Reporters Forum (ERF) on Wednesday (January 15), Chowdhury outlined plans for the upcoming event.

Conference highlights

April 7-8: Foreign investors will be taken on tours across the country to explore potential investment opportunities and visit economic zones to assess their viability.

April 9-10: The main event will take place in Dhaka, featuring the Chief Advisor as the chief guest for the inauguration. The conference will focus on nine priority sectors out of 19 identified as having high investment potential.

A Startup Summit for young entrepreneurs and a recognition program for leading entrepreneurs will also be part of the event.

Investment priorities and reforms

BIDA’s Heatmap Strategy:

A heatmap, incorporating insights from 20 institutions, has been finalized to attract foreign direct investment (FDI).

Nineteen priority sectors have been identified, with targeted initiatives to enhance investment in these areas.

Sectoral Focus:

Efforts are underway to concentrate resources on five key economic zones rather than spreading thinly across 100 zones, ensuring comprehensive utility and infrastructural support.

Government plans to exit specific business sectors, such as jute mills, paper mills, rice mills, and sugar mills, transferring management to private investors to maximize efficiency and avoid creating new economic zones unnecessarily.

Inter-Ministerial Coordination:

Relationship managers from banks will be appointed on a fellowship basis to streamline investor relations and simplify inter-ministerial engagement.

Streamlining Investment Promotion Agencies (IPAs):

BIDA is working to reduce the number of IPAs to eliminate investor confusion and consolidate their services under a single platform.

Tackling investment challenges

Chowdhury highlighted the identification of 21 key challenges faced by investors, particularly in energy and gas supply, which BIDA aims to address within 3-6 months.

He emphasised the importance of policy stability, stating that the formation of a Private Sector Advisory Board is in progress. This board will provide policy recommendations and acknowledge the contributions of business leaders who have navigated complex challenges to sustain their ventures in Bangladesh.

A call for advocacy and collaboration

Chowdhury urged the ERF to act as a bridge between the private sector and policymakers, promoting Bangladesh’s investment potential while holding authorities accountable.

“The ERF should speak out about both the positives and negatives, pushing the government to address shortcomings and highlighting that Bangladesh is a favourable destination for investment.”

He also expressed optimism for the country’s economic future, saying,“2025 will be a gear shift for Bangladesh. Success depends on collective efforts from all sectors.”