Invest Bangladesh, the new apex investment promotion agency, officially began operations yesterday, merging the Bangladesh Investment Development Authority (BIDA), the Bangladesh Economic Zones Authority (BEZA), and the Public-Private Partnership Authority (PPPA) under one umbrella. This consolidation follows the Invest Bangladesh Act, 2026, which took effect on August 20. Operating under the Prime Minister’s Office, the merger aims to streamline investment support by providing a single point of access for domestic and foreign investors. The new agency will facilitate clearer accountability and coordinated services throughout the investment lifecycle, encompassing investment facilitation, policy coordination, and economic zone development. The Act allows for the integration of investment services onto a single digital platform, simplifying approvals and enabling online processing. Economic zones will be prioritized for their access to utilities and transport, but Invest Bangladesh will also facilitate projects outside these zones. The merger will unfold gradually, with employees from the three agencies absorbed into the new authority while maintaining their current positions and benefits. Invest Bangladesh will be governed by a board with a chairman who also serves as the chief executive. The agency aims to promote investment similarly to other regional entities, like Invest India and Pakistan's SIFC. (ICE NEW DELHI)

Fonte notizia: The Daily Star