BIDA workshop charts course for improved business environment

Bangladesh Investment Development Authority (BIDA) hosted a workshop to improve the country's business environment through the Bangladesh Investment Climate Improvement Programme (BICI).

The programme focuses on five key areas: business entry, infrastructure, taxation, dispute resolution, and access to finance, according to a press release.

The workshop, held in Narshingdi from 12-14 May, involved representatives from various government agencies and development partners, highlighting collaboration as a key factor. 

PRABRIDDHI, a local economic development project funded by the governments of Bangladesh and Switzerland, facilitates cooperation between BIDA and the Local Government Division (LGD) to implement BICI and integrate the Municipality Competitiveness Index (MCI) into the programme.

The MCI serves as a tool to assess business conditions and competitiveness across municipalities, providing a more comprehensive national picture. This approach is seen as crucial for attracting investment and propelling Bangladesh towards becoming an upper-middle-income nation.

While delivering the inaugural speech, BIDA Executive Member (Additional Secretary) Khandoker Azizul Islam said, "The essence of BICI lies in fostering Bangladesh's development. Elevated investment in Bangladesh stands to benefit numerous individuals. I sincerely appreciate the Swiss government and PRABRIDDHI for their invaluable support and role in advancing our nation's economic prosperity."

Chief Guest of the event BIDA Executive Chairman (Senior Secretary) Lokman Hossain Miah expressed confidence that this initiative would significantly contribute to implementing the BICI programme and propel Bangladesh towards becoming a more developed nation with improved investment infrastructure.

LGD Joint Secretary and PRABRIDDHI Project Director Md Kamal Hossain underscored the importance of using the Municipality Competitiveness Index (MCI) in all municipalities, not just major cities. This will help attract investment and propel Bangladesh towards becoming an upper-middle-income nation.

BIDA Director General Jibon Krishna Saha Roy said that including MCI in the BICI programme shows their commitment to improving local economies and investment opportunities throughout Bangladesh.

Economist Masrur Reaz highlighted that previously such assessments were limited to major cities. With PRABRIDDHI's help, MCI can now be used at the local level, providing a more comprehensive national view.

Swisscontact Bangladesh Country Director Mujibul Cezanne Hasan explained that MCI will be initially implemented in seven municipalities. They aim to expand it nationwide to improve the business environment and attract investment. He also thanked the Swiss government for their support.

This initiative builds on previous efforts to improve Bangladesh's ranking on the World Bank's ease of doing business index. BICI aims to create a more attractive environment for domestic and international investors, particularly at the municipal level.

Previously, similar assessments were limited to major cities. PRABRIDDHI's involvement allows for the expansion of MCI to all municipalities, offering valuable data for strategic development. Swisscontact Bangladesh, a development cooperation agency, expressed their support for the initiative's initial phase and its long-term sustainability.

The workshop concluded with a call to action from BIDA, urging relevant ministries and agencies to actively contribute to enhancing Bangladesh's business environment and attracting investment for national progress.