'Hold us accountable on delivery': BIDA-BEZA chief shares 8-month progress

Marking eight months in office as the executive chairman of the Bangladesh Investment Development Authority (BIDA) and Bangladesh Economic Zones Authority (BEZA), Chowdhury Ashik Mahmud Bin Harun today shared a detailed progress update titled "Our Accountability Record" on his verified Facebook page.

The post, shared around 2:00pm, outlined BIDA-BEZA's core focus across three strategic tiers: investment-friendly policy, resolving investor issues, and improving Bangladesh's global image to attract long-term investments.

According to the post, BIDA-BEZA has consulted over 200 local and foreign entrepreneurs and CEOs to identify 30 key initiatives, with 18 currently ahead of schedule, seven on track, and five lagging.

Progress is being publicly tracked through a bimonthly webinar series titled "State of Investment Climate," with the goal of completing all initiatives by December.

Ashik Chowdhury cited a number of early successes, including the resolution of issues faced by major companies such as Youngone Group, MetLife, Chevron, Lafarge, and Bangladesh Automobiles, which were publicly acknowledged.

However, Ashik acknowledged that "due to limited manpower, many pending investor concerns remain unaddressed." Ashik emphasised the importance of policy advocacy, pointing to recent reforms in bonded warehouse licensing, reduced import duties on man-made fibre accessories, and changes in issuing 'No Deduction' certificates.

Some of these efforts are reflected in the current budget, with more expected.

Challenging the assumption that investment will naturally flow into the country, he said Bangladesh is just one among many global options, and online searches often yield a worse impression than reality.

To change perceptions, BIDA-BEZA organised two major investment summits, one of which was focused on China, which drew 675 investors and over 300 bilateral meetings.

While billion-dollar deals don't happen overnight, Ashik confirmed three new investments totalling nearly Tk 3,000 crore in garments, airline amenity kits, and watch manufacturing, expected to generate 10,000 jobs.

Fifteen more projects are in the pipeline, he wrote.

"Our goal wasn't buzz," he said, "Just to deliver a global-standard event. Future BIDA leadership won't have to start from scratch. Hold us accountable on delivery."

Ashik Chowdhury took charge of BIDA on September 12 and later BEZA on September 18. He formerly served as associate director of Real Asset Finance at HSBC Singapore.