Established under Bangladesh Investment Development Authority (BIDA)

Established under Bangladesh Investment Development Authority (BIDA)

Established under Bangladesh Investment Development Authority (BIDA) Act 2016, the Bangladesh Investment Development Authority (BIDA) is the principal private investment promotion and facilitation agency of Bangladesh.

The act is created on September 01, 2016.The act mandated BIDA for providing diversified promotional and facilitating services with a view to accelerating industrial development of the country. In addition, the government also entrusted BIDA with some more functions in its service list. Combining all, BIDA’s present functions can be categorized as follows:

Investment Facilitation

Pre-investment information and counseling service.

Investor welcome service (faster immigration).

Registration/approval of foreign, joint-venture and local project.

Registration/approval of branch/liaison/representative offices.

Approving work permit for the foreign nationals.

Facilitating utility connections (electricity, gas, water & sewerage, telecom etc.).

Assistance in obtaining industrial plots.

Approving remittance of royalty, technical know-how and technical assistance fees.

Facilitating import of capital machinery & raw materials.

Approving foreign loan suppliers’ credit, PAYE scheme etc.

Policy Advocacy

Advocating policy suggestions to the government.

Assisting the government in framing new policies for private sector development.

Assisting the National Taskforce on investment climate facilitation.

Mission

To contribute to the country’s development through the attraction of Foreign Direct Investment.

Vision

To achieve sustainable growth in a number of FDI projects in areas that have proven to be competitive in Bangladesh, by generating income, employment, linkages, technological transfers and knowledge for the benefit of all Bangladeshi.