BIDA gets new executive chairman

A former bureaucrat joined Bangladesh Investment Development Authority (BIDA) as its new executive chairman today for a three-year term.

Brought back to service on August 23 through the cancellation of his post retirement leave beginning June 15, Lokman Hossain Miah succeeds Md Sirajul Islam.

He last served the health services division as senior secretary and will continue to enjoying the rank and associated benefits.

Mia was born in Barishal's Gournadi upazila in 1963.

He obtained a master's degree in history from the University of Dhaka and joined Bangladesh Civil Service in 1986, according to a notification.

Lokman Hossain Miah said he will give priority to increase and nurse the domestic and foreign investment to create more jobs through manufacturing.

He also said his duty will be enhancing cooperation to the business community to boost investment and generate more revenue for the government.

"I think Bangladesh is a suitable place for investment as the economy is growing," he noted.

Bida will have to work with full authority to reduce investment barriers and improve Bangladesh's standing in the ease doing business index to a double digit, said Md Saiful Islam, president of the Metropolitan Chamber of Commerce and Industry, Dhaka.

Now the investment-gross domestic product (GDP) ratio is 31 per cent whereas target is 35 per cent under an eighth five-year plan, he told The Daily Star in his reaction over the appointment.

According to him, last year the ratio reached 24 per cent from 23 per cent, which should reach 30 per cent for sustainable development.

He also suggested organising effective seminars and branding of Bangladesh before successful local and foreign investors.