Invest Bangladesh starts journey

Invest Bangladesh, the country’s new apex investment promotion agency, began operations yesterday, bringing the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA) and Public-Private Partnership Authority (PPPA) under one umbrella.

Operating under the Prime Minister’s Office, the new agency was formed following the publication of the gazette notification under the Invest Bangladesh Act, 2026. The Act came into effect on August 20.

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The three agencies will continue to function as before, with existing investor services continuing under the new authority.

Their physical integration is expected to take place gradually, although their functions have already been brought under Invest Bangladesh.

The merger is intended to create a single front office and provide more coordinated support throughout the investment lifecycle.

Invest Bangladesh combines investment facilitation, policy coordination, economic zone development and public-private partnership functions, according to a statement from the agency.

The Act provides an integrated framework for economic zones, free-trade zones and other declared industrial areas, while setting out procedures and timelines for licences, approvals and government services.

A SINGLE WINDOW FOR INVESTORS

“This is more than an institutional merger. It is about organising the government more effectively around the investor,” said Ashik Chowdhury, chairman of Invest Bangladesh.

“By uniting our capabilities, we aim to provide clearer accountability and more coordinated support across the investment journey. We will continue to respect our heritage while forging new chapters as a bigger and stronger team.”

The move aims to give domestic and foreign investors a single point of access to government investment services, according to Invest Bangladesh.

Investors are expected to benefit from more coordinated access to approvals, registrations, import-export services, incentives, industrial zones and other government services.

The law also provides for investment and business services to be brought under a single digital platform, paving the way for single-window clearance and online processing of licences and approvals.

It also simplifies approval procedures for smaller public-private partnership projects and allows underused government land, facilities, shares and rights to be put to productive use.

Economic zones will remain a priority because they offer better access to utilities and transport networks, the agency said.

However, Invest Bangladesh will also facilitate projects outside economic zones, including through the use of underutilised state assets, depending on the project and investor requirements.

MERGER TO PROCEED IN PHASES

The merger will be implemented gradually, with the existing assets, records, agreements, liabilities and other matters of BIDA, BEZA and PPPA transferred to Invest Bangladesh.

Regular officers and employees of the three agencies will be absorbed into the new authority in equivalent positions, with continuity of service and existing benefits protected, according to Invest Bangladesh.

The three agencies have a combined sanctioned strength of 681 posts, of which 297 are currently filled, according to a manpower statement prepared for the merger.

BEZA has 172 employees against 348 sanctioned posts, while BIDA has 117 against 295 posts and PPPA has eight against 38. This leaves 384 vacant posts across the three agencies, with 176 at BEZA, 178 at BIDA and 30 at PPPA.

BIDA and BEZA officials are currently based at Biniyog Bhaban in Agargaon, while PPPA operates from a nearby building. PPPA will continue to operate from its existing premises for now and carry out its functions as before, a PPPA official said. The agency may eventually be relocated to Biniyog Bhaban, the official said.

Under the law, the Invest Bangladesh Authority will operate as a statutory body, with its headquarters in Dhaka. With government approval, it may establish branch offices across the country and liaison offices abroad.

The authority will be governed by a board comprising a chairman and seven members. The chairman will also serve as its chief executive.

Invest Bangladesh is expected to play a role similar to Invest India, Pakistan’s Special Investment Facilitation Council (SIFC) and the Board of Investment of Sri Lanka (BOI), all of which focus on promoting investment in their respective countries.