FICCI, Bida to work together to attract foreign investment

The Bangladesh Investment Development Authority (BIDA) and the Foreign Investors Chamber of Commerce and Industry (FICCI) will work together to help attract foreign investment, according to a press release.

Lutfe Siddiqui, the special envoy on international affairs to the chief adviser of the interim government, initially disclosed the information at a meeting held between Bida and FICCI representatives at Bida's conference room yesterday.

Khandkar Azizul Islam, secretary of Bida, presided over the meeting while Ashik Chowdhury, newly appointed executive chairman of Bida, connected virtually.

FICCI President Javed Akhtar was also present.

"We have many potential investors in the pipeline who are eager to invest in Bangladesh, but they are currently facing several barriers," Akhtar said.

"It is essential that we work together to identify and resolve these issues so we can continue fostering economic growth and attracting more foreign direct investment."

The FICCI president presented a comprehensive overview of the organisation's activities, outlining key challenges as well as opportunities faced by foreign investors. He also highlighted the need for structural reforms to attract investment.

He emphasised the importance of a collaborative approach to overcome these challenges and unlock Bangladesh's potential as a premier destination for international investment.

Lutfe Siddiqi shared his approach to addressing investors' concerns, assuring that the government remains committed to creating a more favourable business environment.

Ashik Chowdhury, speaking virtually from Singapore, underscored the importance of continuous efforts to improve the investment climate.

Both the special envoy and the Bida executive chairman reiterated their commitment to implementing necessary reforms in collaboration with FICCI and other relevant stakeholders.