PM stresses on boosting investments

Prime Minister Sheikh Hasina emphasised on further raising the flow of both local and foreign investments in the country to create more jobs and spur economic activity.

"We`ll have to further raise both the local and foreign investments in the country," she told the first meeting of the Governing Board of Bangladesh Investment Development Authority (BIDA), reports UNB.

PM`s Press Secretary Ihsanul Karim briefed reporters after the meeting held at the Prime Minister`s Office (PMO) with Sheikh Hasina in the chair.

The Prime Minister called for building more youth entrepreneurship in the country saying that up to Tk 200,000 collateral-free loan is being provided from Karmasangsthan Bank to young entrepreneurs so that they could contribute to the country`s economy.

About the background of establishing BIDA, Hasina said this has been created through merging the Privatisation Commission and Board of Investment (BoI) to attract more investment in the country.

About the trend of industrialisation, she asked the authorities concerned as well as industrialists to look into the matter so that the industries are not set up here and there on farm land. "The industries should be set up properly in suitable places."

BIDA Executive Chairman Kazi M Aminul Islam made a presentation on its future plan and overall activities.

The meeting also discussed the formulation of rules and regulations to run the organisational structure of the new authority.

Finance Minister AMA Muhith, Industries Minister Amir Hossain Amu, Agriculture Minister Begum Matia Chowdhury, Housing and Public Works Minister Engineer Mosharraf Hossain, Planning Minister AHM Mustafa Kamal, State Minister for Power, Energy and Mineral Resources Nasrul Hamid, Bangladesh Bank Governor Fazle Kabir, BSEC Chairman Dr M Khairul Hossain, and FBCCI President Abdul Matlub Ahmed attended the meeting. Secretaries concerned were also present.

Established under Bangladesh Investment Development Authority (BIDA) Act 2016, the Bangladesh Investment Development Authority (BIDA) is the principal private investment promotion and facilitation agency of Bangladesh.

The act mandated BIDA for providing diversified promotional and facilitating services with a view to accelerating industrial development of the country. Besides, the government entrusted BIDA with some more functions in its service list.