Bida, BUILD sign MoU on facilitating investment
The Bangladesh Investment Development Authority (Bida) and Business Initiative Leading Development (BUILD) have teamed up to facilitate investment by creating an enabling environment for attracting funds and sharing technical assistance.
Mohsina Yasmin, executive member of Bida, and Ferdous Ara Begum, chief executive officer of BUILD, yesterday signed a memorandum of understanding (MoU) to this end at the former's conference room in Dhaka's Agargaon.
After the signing, Lokman Hossain Miah, executive chairman of Bida, said Bangladesh has been moving forward under the leadership of Prime Minister Sheikh Hasina as the country's per capita income rose from $750 in 2007 to $2850 at present.
"Business investment is not the same as it was 20 years ago. It now requires the application of research and technology while potential investment sectors need to be determined as well," he added.
Hossain then said that from now on, BUILD will work as Bida's partner behind the scenes to attract both domestic and foreign investment.
"Bida and BUILD will work together to further improve the investment and business environment in Bangladesh, which will contribute to attracting investment, creating jobs and increasing economic growth in the country," he added.
Nihad Kabir, chairperson of BUILD, said Bangladesh has become a middle-income country and considering the trend of global economic activities and rapidly changing technology, is time to work on the "Smart Bangladesh" vision.
"In terms of investment, Bangladesh's opportunities and sectors should be highlighted to foreigners to attract foreign investment," she added.
BUILD CEO Begum said that with the signing of the MoU, they will work with Bida to facilitate investment opportunities and business reforms in Bangladesh.
"And through joint efforts, we will identify business and investment issues to simplify the processes," she added.
Begum went on to say that BUILD will work towards creating a technology-based, modern, transparent and investment-friendly environment, which includes removing regulatory barriers.
"So far, we have identified nine sectors on the basis of which Bida and BUILD will hold meetings once every three months to report on progress and what to do next," she said.
Bida Executive Member Yasmin said that as a result of this agreement, a common platform will be created between Bida and BUILD for organising dialogues, seminars and business-investment conferences.
Additionally, it will facilitate research and the mutual exchange of information, she added.
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