Bangladesh has emerged as one of South Asia’s most promising economies in recent years, powered by rapid industrialization, a young workforce, and strategic government reforms. One of the most notable steps in making Bangladesh a more business-friendly destination is the establishment and ongoing work of BIDA – Bangladesh Investment Development Authority.
In this blog, we explore how BIDA is contributing to the ease of doing business in Bangladesh, and why entrepreneurs and investors are increasingly viewing the country as a viable and attractive business hub.
🏢 What Is BIDA?
BIDA is the apex investment promotion agency of Bangladesh, operating under the Prime Minister’s Office. It is entrusted with the mission to:
- 📈 Promote investment opportunities
- 🤝 Facilitate investors through policy support and coordination
- ⚙️ Reform regulations to improve the investment climate
Established in 2016 through the merger of the Board of Investment (BOI) and the Privatisation Commission, BIDA has become the central point of contact for investors seeking to establish or expand businesses in Bangladesh.
🌍 Why Bangladesh Is Gaining Traction Among Investors
Before we dive into BIDA’s specific role, here’s why Bangladesh itself is drawing global attention:
- 🗺️ Strategic location connecting South and Southeast Asia
- 📊 Consistent GDP growth, averaging over 6% in the past decade
- 👨👩👧👦 Growing middle-class population with increasing purchasing power
- 💼 Competitive labor costs and a large, youthful workforce
- 🏭 Government support for industrial zones, IT parks, and export incentives
But setting up a business in any developing economy can still be daunting — and this is where BIDA steps in.
🛠️ How BIDA Is Improving Ease of Doing Business
🖥️ 1. One-Stop Service (OSS) Portal
BIDA launched a digital One-Stop Service (OSS) Portal to simplify and accelerate business processes:
- 📋 Apply for company registration, trade licenses, BIN, TIN, permits, and approvals
- 🔍 Track application status online
- 🏛️ Access 56+ services from 17 different government agencies
This is a game-changer in reducing bureaucratic delays and increasing transparency.
🧭 2. Investor Facilitation and Consultation
BIDA provides end-to-end support to both local and foreign investors:
- 🧠 Investment counseling
- 📝 Regulatory guidance
- 🔌 Help with utility connections and infrastructure
- 🤝 Networking with local suppliers and strategic partners
This makes market entry smoother and less risky for new businesses.
📜 3. Policy Advocacy and Reforms
BIDA is a key reform driver in the national regulatory landscape:
- 🧱 Identifies regulatory bottlenecks
- 🔧 Recommends and implements reforms in starting a business, getting credit, and enforcing contracts
- 🌐 Works with global partners like the World Bank Group to improve the investment climate
These actions have contributed to Bangladesh’s climb in global Ease of Doing Business rankings.
🤝 4. Promoting Public-Private Partnerships (PPPs)
BIDA actively facilitates PPP initiatives by:
- 🏗️ Identifying bankable infrastructure projects
- ⚡ Encouraging investments in power, energy, and ICT sectors
- 🌱 Supporting long-term projects that drive national development
These opportunities allow private investors to partner with the government on high-impact ventures.
🧵 Sectoral Opportunities Promoted by BIDA
BIDA focuses on high-growth sectors where Bangladesh has strong competitive advantages:
- 👕 Garments and Textiles
- 💻 Information and Communication Technology (ICT)
- 🌾 Agro-processing
- 💊 Pharmaceuticals
- 👞 Leather and Footwear
- ☀️ Renewable Energy
- ⚙️ Light Engineering
📢 These sectors come with fiscal incentives, tax holidays, and streamlined investment procedures.
⚠️ Challenges and the Road Ahead
While progress is evident, some challenges still remain:
- 🏞️ Land acquisition needs to be simplified
- ⚖️ Strengthening the judicial system for better contract enforcement
- 🚛 Infrastructure and logistics need further development
However, with ongoing digitization, strong political will, and active private sector involvement, Bangladesh is steadily becoming one of Asia’s most investment-friendly destinations — with BIDA at the core of this transformation.
✅ Conclusion
Bangladesh’s journey towards a business-friendly economy is being shaped by BIDA’s visionary leadership and hands-on investor support. From digital services and regulatory reforms to strategic partnerships and sectoral development, BIDA is making it easier than ever to start, grow, and succeed in Bangladesh.
💡 Thinking of investing in Bangladesh? Start with BIDA — your gateway to one of the fastest-growing markets in Asia.