Invest Bangladesh, the newly established apex agency for promoting investments in the country, commenced its operations yesterday. It amalgamates the functions of the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA), and Public-Private Partnership Authority (PPPA) under one entity.
As a part of the Prime Minister’s Office, this new agency was instituted following the issuance of the Invest Bangladesh Act, 2026, which became effective on August 20. The three agencies will maintain their current operations, with investor services now falling under the purview of Invest Bangladesh.
While the physical consolidation of these entities is set to occur gradually, their functions have already been consolidated within Invest Bangladesh. The primary objective of this merger is to establish a unified front office that can offer more cohesive support throughout the investment process.
Invest Bangladesh integrates various services such as investment facilitation, policy coordination, economic zone development, and public-private partnership functions. The Act outlines a comprehensive framework for economic and free-trade zones, along with other industrial areas, specifying procedures and timelines for licenses, approvals, and government services.
Chairman Ashik Chowdhury emphasized that this consolidation is not just about merging institutions but about streamlining government operations to better serve investors. By leveraging combined capabilities, the agency aims to enhance accountability and provide seamless support during the investment journey.
The initiative aims to provide both local and foreign investors with centralized access to government investment services. This approach is expected to streamline processes related to approvals, registrations, import-export activities, incentives, industrial zones, and other government services.
Moreover, the law mandates the consolidation of investment and business services onto a single digital platform, paving the way for streamlined approval processes and online processing of licenses and permits. It also simplifies approval procedures for smaller public-private partnership projects and enables the productive use of underutilized government assets.
While economic zones will remain a key focus due to their utility and transportation advantages, Invest Bangladesh will also facilitate projects beyond these zones by leveraging underutilized state resources, depending on project requirements.
The merger will be executed in phases, with assets, records, agreements, and liabilities of BIDA, BEZA, and PPPA gradually transferred to Invest Bangladesh. Existing staff from the three agencies will be absorbed into equivalent positions within the new authority, safeguarding their service continuity and benefits.
With a combined sanctioned staff strength of 681 positions across the three agencies, there are currently 384 vacant posts, distributed among BEZA, BIDA, and PPPA. While BIDA and BEZA officials are currently situated in Biniyog Bhaban, Agargaon, PPPA will operate from its current premises for the time being.
The Invest Bangladesh Authority will function as a statutory body with its headquarters in Dhaka, potentially establishing branch offices nationwide and liaison offices abroad with government approval. The agency will be overseen by a board comprising a chairman and seven members, with the chairman also serving as the chief executive.
Invest Bangladesh is poised to emulate the roles played by similar investment promotion bodies in other countries like Invest India, Pakistan’s Special Investment Facilitation Council (SIFC), and the Board of Investment of Sri Lanka (BOI), all dedicated to fostering investments within their respective territories.
