BIDA Boss Ashik Breaks Down Reforms, Reveals Roadmap for Investment Revival in Facebook
In a detailed statement shared via his verified Facebook profile on Friday (June 6), Ashik Chowdhury, Executive Chairman of the Bangladesh Investment Development Authority (BIDA) and BEZA outlined a series of strategic reforms, digital initiatives, and coordination efforts aimed at enhancing the country’s investment climate.
Presenting what he called an eight-month performance report since taking charge, Chowdhury requested readers to patiently go through the lengthy account, noting its importance for transparency and accountability. His update reflects multi-pronged efforts to streamline approvals, unify investment authorities, enhance investor relations, and expand the country's economic zones, including the proposal to establish a Military/Defence Economic Zone to boost defence-sector capabilities.
Unifying Investment Ecosystem
Chowdhury emphasized plans to bring BIDA, BEZA, BEPZA, the Hi-Tech Park Authority, and the PPP Authority under a single umbrella to reduce inefficiencies and enhance coordination. “Our core tasks revolve around three areas,” he wrote. “A. Taking concrete policy and execution steps to create an investment-friendly environment. B. Turning existing investors into ambassadors by solving their individual issues. C. Building a solid investment pipeline while improving the country’s global image.”
He reported that BIDA had identified 30 key actions based on consultations with over 200 domestic and international CEOs and entrepreneurs. Of these, 18 are ahead of schedule, 7 are on track, and 5 are lagging behind. “We share this progress every two months through webinars titled ‘State of Investment Climate’,” he added.
Digital Transformation and One-Stop Services
One of the major highlights includes converting essential business approvals into a unified digital format—a move intended to eliminate bureaucratic delays. Chowdhury further revealed efforts to make BIDA and BEZA operations paperless via the government’s e-file (D-nothi) platform and to expand their social media presence for transparency and outreach. “We are also launching a revamped website by the end of this month,” he said.
He noted that a new matchmaking summit was hosted in Dhaka, bringing together 675 investors and facilitating over 300 bilateral meetings. Three new investments—one in garments, one in airline amenity kits, and another in watch manufacturing—have already been confirmed, with a combined investment nearing BDT 3,000 crore and job creation estimated at 10,000.
Addressing Policy and Investor Issues
Chowdhury explained that solving the issues of existing investors like Youngone Group, MetLife, Chevron, Lafarge, and Bangladesh Automobiles is crucial for building confidence among prospective investors. “Those already doing business in Bangladesh are the ones whom new investors will ask whether they should come here or not,” he said.
He also acknowledged ongoing policy advocacy on matters such as bonded warehouse licensing, reduction of import duties on man-made fibers, and changes in incentive-related certification processes.
Challenges and Areas Lagging Behind
Chowdhury admitted that several initiatives remain behind schedule, including establishing a Private Sector Advisory Council, reforming capital repatriation policies, and finalizing strategies for energy security. He called for public accountability, saying, “Please hold us accountable for whether we are delivering on time.”
He credited the collaborative efforts of the World Bank, UNDP, various embassies, and private sector partners—many of whom are contributing without compensation. “Without them, progress would not have been possible,” he wrote.
Macroeconomic Context and Future Outlook
In a concluding note, Chowdhury pointed out that while the amount of investment from October to April remains similar to last year, it is not a reflection of BIDA’s success or failure. “Given the recent political instability, the quick rebound of foreign investment to previous levels is promising,” he wrote, citing improvements in foreign reserves and exchange rate stability as the underlying reasons.
Chowdhury closed his post with a call for fact-based discourse. “Please take information from verified sources. Don’t fall for misinformation. Ask us. We’ll try to respond.”
