The 5Cs of ‘Invest Bangladesh’: The merger is complete, the real work begins
Bangladesh loses its brightest minds to foreign universities and job markets at a rate well above the global average — and even those who return rarely stay. The government's brain circulation strategy is a step in the right direction, but without fixing the system that drives people out in the first place, it risks becoming another well-intentioned programme that changes very little
Institutions are not transformed by legislation alone. They are transformed by leadership, coordination and execution.
The passage of the Invest Bangladesh Bill, 2026, by Parliament on 15 July marks a landmark reform in Bangladesh's investment governance. By integrating the Bangladesh Investment Development Authority (BIDA), the Bangladesh Economic Zones Authority (BEZA) and the Public-Private Partnership Authority (PPPA) into a single institution under the Prime Minister's Office, the government has laid the foundation for a more coherent and investor-friendly investment ecosystem.
The reform addresses the long-standing challenge of fragmented investment promotion, where overlapping mandates and multiple institutional interfaces increased costs, delayed decisions and weakened accountability. It also aligns with international best practice, including UNCTAD's call for a more integrated investment promotion framework.
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From investment promotion to investment delivery
Across Asia, successful investment destinations have shown that attracting investment requires more than incentives; it requires governments that act in a coordinated, predictable and investor-centric manner.
Institutions such as Singapore's Economic Development Board, South Korea's Invest Korea, Malaysia's MIDA, Indonesia's Ministry of Investment, Thailand's Board of Investment and Vietnam's Foreign Investment Agency all differ in structure but share one defining characteristic: they coordinate government rather than merely promote investment.
That is the standard Invest Bangladesh should strive to achieve.
The real bottlenecks lie beyond Invest Bangladesh
The integration of BIDA, BEZA and PPPA is a major step forward, but the real test begins after investment approval.
Investors still depend on the National Board of Revenue, the Department of Environment, Fire Service and Civil Defence, local authorities and utility providers for licences, clearances and essential services.
If these agencies continue to operate independently, project implementation will remain slow despite the institutional merger. From an investor's perspective, there is only one government. It must therefore function as one.
Bangladesh needs a National Investment Delivery Agency
This is where Invest Bangladesh must redefine its role. Rather than serving solely as an Investment Promotion Agency, it should become Bangladesh's National Investment Delivery Agency. Its success should be measured not by the number of approvals issued but by how quickly investments translate into operational factories, productive enterprises and quality jobs.
Once Invest Bangladesh approves a strategic investment, responsibility for coordinating subsequent licences, clearances and utility services should shift from the investor to the government. A genuine one-stop service means investors deal with one institution while the government coordinates internally.
Time has become a competitive advantage
Bangladesh has built a strong foundation for investment, with total investment accounting for nearly one-third of GDP and private investment contributing about 23–24%. Yet foreign direct investment (FDI) has remained below 1% of GDP for much of the past decade, trailing many competing Asian economies. The challenge is no longer simply attracting investors but helping them move quickly from approval to production.
Projects approved by Invest Bangladesh should therefore receive National Priority Investment Status, enabling them to be processed within clear service timelines rather than routine bureaucratic queues, while fully complying with legal, environmental and safety requirements. In today's competitive global economy, speed, predictability and efficient public services are among a country's greatest investment advantages.
Utilities are the lifeblood of industrialisation
Bangladesh has invested heavily in roads, bridges, ports and economic zones. The next challenge is ensuring that industries receive timely access to gas, electricity and water—the lifeblood of industrialisation. Delays in utility connections remain a major obstacle to investment implementation.
Invest Bangladesh should therefore work closely with the Energy and Power Divisions, Petrobangla, utility providers and water authorities to establish guaranteed service standards for strategic investment projects. Utilities must become an integral part of investment facilitation, not a separate administrative process.
The 5 Cs of invest Bangladesh
To fulfil its national mission, Invest Bangladesh should be guided by five strategic principles:
Coordination - Integrate ministries, regulators and utility providers into a seamless investment delivery system.
Connectivity - Establish a single digital platform where investors submit information only once.
Certainty - Introduce statutory timelines for licences and approvals to ensure predictability.
Competitiveness — Ensure timely access to land, gas, electricity and water for strategic investments.
Credibility - Publish transparent performance indicators on investment, implementation, jobs and investor satisfaction.
Together, these five principles can transform Invest Bangladesh into a world-class investment facilitation institution.
A National Investment Delivery Council
Institutional coordination requires an institutional mechanism. The Government may therefore consider establishing a National Investment Facilitation Council (NIFC), chaired by the Executive Chairman of Invest Bangladesh and comprising the heads of the National Board of Revenue, the Department of Environment, Fire Service and Civil Defence, the Energy and Power Divisions, major utility providers and other key agencies. Meeting regularly, the Council would resolve inter-agency bottlenecks, monitor service timelines and accelerate strategically important investment projects.
It would not replace the statutory authority of participating agencies but would instead serve as a coordination and facilitation platform to maintain momentum and ensure timely implementation. Such a mechanism would institutionalise a whole-of-government approach to investment facilitation and reinforce Bangladesh's commitment to efficient and predictable investor services.
The real measure of success
The success of Invest Bangladesh will not be measured by the merger of three organisations but by results — how quickly investments become operational, licences are issued, utility connections are delivered and quality jobs are created. Bangladesh has completed the first phase of reform by integrating its investment promotion agencies. The next phase must integrate the work of government.
If Invest Bangladesh can unite ministries, regulators, utility providers and local authorities behind a common national mission, it will become not just an investment promotion agency but the Government's engine for industrialisation, investment and sustainable economic growth.
Md Nazrul Islam is a former executive chairman of BEPZA, former executive member (Planning and Development) at BEZA, a retired Major General of the Bangladesh Army, and a PhD researcher on technology, workforce transformation, and industrial competitiveness.
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the opinions and views of The Business Standard.
