BUILD, Bida join hands on attracting, simplifying investments
“We will work together to further improve the investment and business environment in Bangladesh,” Bida chairman says
Business Initiative Leading Development (BUILD) and Bangladesh Investment Development Authority (Bida) joined hands to attract investment as well as simplifying the investment process, and mutual technical assistance, and ensure an up-to-date investment environment.
To this end, two parties signed a memorandum of understanding (MoU) on Monday at the Bida office in the city.
At the programme, Bida Chairman Lokman Hossain Miah said, "Investment in business is not the same as it was 20 years ago, it now requires the application of resources and technology. Moreover, we need to fix the investment sectors."
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"Under the MoU, BUILD will henceforth act as our partner behind the scenes to attract domestic and foreign investment. We will work together to further improve the investment and business environment in Bangladesh, which will contribute to attracting more investment, creating new jobs, and boosting economic growth in the country."
Ferdaus Ara Begum, chief executive officer of BUILD, said "With the signing of this MoU, BUILD will work in partnership with Bida to facilitate investment opportunities and business reforms in Bangladesh. We will, through joint efforts, identify business and investment issues, simplify business processes, remove barriers and regulatory barriers, and create a technology-based modern, transparent, and investment-friendly environment."
"We have already identified nine sectors, based on which Bida and BUILD will hold meetings between themselves once every three months on progress and to-dos," she said.
Nihad Kabir, Trustee Board chairperson of Business Initiative Leading Development, said "With global economic activity becoming technology-dependent, we also need to work towards a Smart Bangladesh vision."
In reply to a query regarding recent fire incidents in city markets, Bida executive member Avijit Chowdhury said, "We have got a list of some vulnerable buildings. We will inspect those if we get government funds."
He said 108 teams led by Bida inspected 5,206 factories and industrial establishments across the country. The first phase was completed in 2022. Currently, the second phase of work is going on.
