Bangladesh Goverment decides to merge six investment-related organisations: BIDA chief 

The authorities have decided to merge six public institutions or agencies working for promotion of trade and investment because of their almost common area of work to strengthen their performance.
 
The name of the new body yet to be decided, the sources said. 

The institutions are Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA), Bangladesh Export Processing Zones Authority (BEPZA), Bangladesh Hi-Tech Park Authority, Public Private Partnership Authority (PPA) and Bangladesh Small and Cottage Industries Corporation (BSCIC).

*    The government has taken a policy decision to establish a Defence Industrial Zone in the Mirsarai Economic Zone of Chittagong to make Bangladesh a participating country in the military and defence industry.

*    The government will provide an incentive of 1.25 per cent if expatriates bring investment to Bangladesh from abroad. The government has approved the matter in principle.

BEZA Governing Board meeting also agreed to allocate 850 acres of land in Mirsarai for the defence industrial zone. Although this land was earlier earmarked for a foreign economic zone, it has been decided to reuse it as the project was cancelled.

BIDA Executive Chairman Chowdhury Ashiq Bin Harun gave this information at a press conference at Foreign Service Academy in the capital on Monday (January 26) afternoon. Press Secretary Shafiqul Alam was also present in the event. 

The decision was taken at governing board meeting of Bangladesh Economic Zones Authority presided over by Chief Advisor and Chairman of the Governing Board Dr Muhammad Yunus.

BIDA Executive Chairman said, "We have many investment promotion agencies. There are six together. A proposal to merge these went to the previous governing board meeting. 

Then an advisory committee was formed, where several advisors, the Governor of Bangladesh Bank, the Attorney General and many others were involved. They all made the recommendation for merger. '

Ashiq Chowdhury said, 'The merger is our decision for now. The next government will come and implement it. An initial decision has also been made regarding how the merger will be done. 

The new organization will be developed on ad vice of an independent third-party consultant.  An independent consultant from outside will do it.'

'The merger is primarily agreed because the government has agreed that in future these agencies will become one agency. 

The government will provide an incentive of 1.25 percent to expatriates if they bring investment to Bangladesh from abroad. The government has approved the matter in principle.

The government has also taken a policy decision to establish a Defense Industrial Zone in the Mirsarai Economic Zone of Chittagong to make Bangladesh a participating country in the military and defense industry.

BEZA Executive Chairman Ashiq Chowdhury gave this information at the same press conference organized at the Foreign Service Academy.

It was informed at the BEZA Governing Board meeting agreed to allocate 850 acres of land in Mirsarai for the defense industrial zone. Although this land was earlier earmarked for a foreign economic zone, it has been decided to reuse it as the project was cancelled.

In this regard, Ashiq Chowdhury said the Indian economic zone has been excluded from the G2G framework. That space is vacant. 

Regarding the rationality of establishing an economic zone for production of military weapons, the executive chairman of BEZA said that they have been discussing it for a long time. 

There is actually a global demand for it at the moment. Even if you think about it from a purely economic perspective, Bangladesh can start working as a participant in the defense industry.