Bida hosts workshop on improving business climate, investment

The Bangladesh Investment Development Authority (Bida) conducted a workshop as part of its seven-part series, to promote inter-governmental cooperation among working group members representing diverse ministries, divisions, and agencies involved with the Bangladesh Investment Climate Improvement (BICI) programme.

The inaugural workshop was held at the Bida office in the capital on Thursday.

Bida was working to implement reform proposals for the positional improvement of the World Bank's Ease of Doing Business Index by coordinating with various ministries, divisions and agencies. 

Though the World Bank suspended the Ease of Doing Business programme, the National Committee for Monitoring Implementation of Doing Business Reforms, chaired by the cabinet secretary, decided to prepare an action plan taking into consideration the socio-economic context of Bangladesh. 

The committee designed and launched a programme "Bangladesh Investment Climate Improvement" which is being implemented by Bida to facilitate business and investment across the country.

The programme encompasses 110 identified reforms under seven pillars, with seven working groups formed to oversee each pillar's progress. Additionally, a task force has been established to ensure the effective implementation of the programme.

Prabriddhi, a local economic development project jointly funded by Switzerland and the Bangladesh government, aims to support Bida in achieving the objectives of the programme by facilitating collaboration between Bida and the local government division. 

This collaboration will enhance the implementation of the BICI programme by reaching all municipalities in Bangladesh and collecting data on the business environment nationwide. The collaboration will also support Bida in developing and integrating the Municipality Competitiveness Index (MCI) into the programme. 

The MCI will serve as a robust tool for assessing the competitiveness of municipalities across Bangladesh, measuring the ease of doing business and the effectiveness of economic governance at the municipal level. It will offer municipalities a benchmark to monitor their progress in creating a favourable business environment.

"The BICI programme is all about helping Bangladesh grow. If investment is increased in Bangladesh, so many people will be benefitted. I extend my heartfelt gratitude to Prabriddhi for their invaluable contribution to our nation's economic growth," said Lokman Hossain Miah, executive chairman (senior secretary) of Bida.

"We are working with Prabriddhi with a specific objective of facilitating business and developing an investment-friendly environment in Bangladesh. Since Bida does not work at the municipal level, MCI will help us gather information on business environments at the municipal level and reform business-friendly and investment-enhancing policies to build municipal competitiveness," said Mohsina Yasmin, executive member of Bida.

"Since Prabriddhi is working in cooperation with the local government division to develop good governance, sector competitiveness, infrastructure, business development services and skill development at the municipal level, it is extremely encouraging to jointly fulfil the aim of the BICI programme at the national level," said Jibon Krishna Saha Roy, the director general of Bida.

"Today's workshop marks a pivotal moment in our mission at Prabriddhi. Collaborating closely with Bida, we are harnessing collective expertise to propel the Municipality Competitiveness Index (MCI) forward. The inclusion of MCI into the BICI programme underscores our dedication to catalysing local economic development, promoting a better business environment, and increasing investment opportunities in Bangladesh," said Markus Ehman, team leader of Prabriddhi.