The country's apex investment promotion agency and a platform of foreign investors join hands to promote and facilitate foreign investment in the country.
To this end, the Bangladesh Investment Development Authority (BIDA) and the Foreign Investors' Chamber of Commerce and Industry (FICCI) signed a memorandum of understanding (MoU) at BIDA headquarters on Wednesday.
BIDA executive member Sanjoy Kumar Chowdhury and FICCI executive director TIM Nurul Kabir inked the deal on behalf of their respective sides, reads a statement.
BIDA executive chairman Md Sirazul Islam attended the signing ceremony as the chief guest and FICCI president Naser Ezaz Bijoy as the special guest.
BIDA member Mohsina Yasmin chaired the event.
As per the agreement, both entities will work together to expand foreign investment in Bangladesh.
They will also collaborate to organise programmes like consultation, investment dialogue, conference, seminar, roundtable, focus-group discussion and exhibition aimed at promoting the country as an investment destination.
They will jointly work to conduct research on the country's tax system, fiscal policies, ease-of-doing business context and other relevant issues to attract more foreign direct investment (FDI).
In his speech, Mr Islam says both BIDA and FICCI are already working on a partnership basis to facilitate private-sector growth and promote new investment opportunities.
"With the MoU signing today," he says, "we've become partners for development, through which we will be able to generate more FDI by providing the highest level of service to investors."
Mr Bijoy says the FICCI has members in more than 35 countries around the world.
"In order to attract foreign investment from those countries, we'll showcase Bangladesh as an ideal investment destination in collaboration with BIDA."
In 2021, the FICCI signed a MoU with the BIDA to merge three of its investment-related services with BIDA's interoperable one-stop service (OSS).
The services are membership certificate issuance, its renewal and certificate of origin.
