The Invest Bangladesh Bill, 2026, was approved by the Jatiya Sangsad yesterday, establishing the Invest Bangladesh Authority as the primary investment promotion agency in the country.
Proposed by Salahuddin Ahmed, Minister in charge of the Prime Minister’s Office and Minister for Home Affairs, the bill received unanimous support through a voice vote.
This new legislation consolidates the functions of the Bangladesh Investment Development Authority (Bida), Bangladesh Economic Zones Authority (Beza), Bangladesh Hi-Tech Park Authority (BHTPA), and the Public-Private Partnership Authority (PPPA) into a single statutory body.
The government anticipates that this merger will streamline investor services, decrease bureaucratic hurdles, and enhance collaboration between government entities.
During his parliamentary address, Salahuddin clarified that the law does not introduce a novel framework but unifies existing institutions with overlapping duties.
He emphasized that the goal is to eliminate redundancy and offer a more efficient one-window system for investors seeking services.
Although the government had intended to present the bill earlier, it was tabled on Wednesday, the closing day of the session.
In response to concerns from opposition members, Salahuddin assured that verbal amendments could be suggested as procedural requirements had been waived. He pledged to consider reasonable proposals for future amendments.
Under the new law, the Invest Bangladesh Authority will serve as the primary investment promotion entity, attracting both local and foreign investments, fostering industrial growth, and coordinating approvals across government departments.
The authority will supervise economic zones, public-private partnership projects, approve investment incentives, and facilitate significant investment ventures.
A centralized digital platform will be operated to unify all investment-related approvals, licenses, and permits. Government agencies will be mandated to use this platform, gradually merging existing one-stop service systems into it.
The legislation empowers the authority to recommend visas and work permits for foreign investors and professionals, oversee industrial land allocation, and advise on the strategic utilization or divestment of state-owned industrial assets.
Furthermore, it will establish deadlines for essential government services related to sanctioned investment projects, such as land allocation, utilities provision, customs clearance, and environmental permits.
The authority will be governed by a board chaired by the Prime Minister or an appointee, comprising ministers overseeing finance, commerce, industries, energy, foreign affairs, land, and law, as well as the Bangladesh Bank governor, senior government officials, and private sector representatives, including women.
An executive council led by an executive chairman will supervise the day-to-day functions of the authority.
The law repeals several acts, including the Bangladesh Economic Zones Act, 2010, the Bangladesh Public-Private Partnership Act, 2015, the Bangladesh Investment Development Authority Act, 2016, the Bangladesh Hi-Tech Park Authority Act, and the One Stop Service Act, 2018.
All assets, liabilities, contracts, and staff from the aforementioned agencies will be transitioned to the new authority.
