The country’s central bank, Bangladesh Bank (BB), and Bangladesh Investment Development Authority (BIDA) are the two main regulatory institutions that facilitate and guide investment for most sectors. Bangladesh Investment Development Authority (BIDA), was formed by merging Board of Investment (BOI) and Bangladesh Privatization Commission. BIDA was established for dealing with matters relating to local and foreign investments. Currently, all incoming investments need to be approved beforehand by BIDA. The regulatory body aims to promote domestic and foreign investments by simplifying the bureaucratic challenges for entering the Bangladesh market.
A BIDA helpdesk is located at the Shahjalal International Airport, Dhaka, for guiding international investors. BIDA plans to introduce an online-based One Stop Solution (OSS) service for assistance with necessary licenses and permits required for international investment in Bangladesh in the near future. They envision this would greatly streamline investment procedures for most foreign investors.
Bangladesh Bank must be formally notified within 14 working days after bringing in any international investments, including portfolio investments brought into the capital market.
Trade bodies and chambers:
The four main trade facilitation bodies of the country include Dhaka Chamber of Commerce and Industry (DCCI), Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), Foreign Chamber of Commerce and Industries (FCCI) and Metropolitan Chamber of Commerce and Industry (MCCI). While other regional level trade bodies exist, these are the main mediums through which majority of businesses operate.
The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI): The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) is the apex trade organization of Bangladesh. FBCCI plays a pivotal role in safeguarding the interest of private sector and providing consultative and advisory capacity in Bangladesh. It was established in 1973 under the Trade Organization Ordinance and Companies Act, 1913
Dhaka Chamber of Commerce and Industry (DCCI) : DCCI is a non-profit, service-oriented chamber serving as the first point of contact for SMEs. DCCI provides market-oriented inputs during the government’s policy formulation process with respect to import, export and investments. The chamber regularly publishes guidebooks for facilitating trade and commerce. DCCI also has its dedicated training facility for supporting capacity development of professionals working with member organizations.
Foreign Chamber of Commerce and Industries (FCCI) : FCCI established in 1963, is composed of 188 members across industry, service and manufacturing sectors. Classified as a Class ‘A’ chamber of commerce, FCCI is affiliated with FBCCI, International Trade Center (Geneva) and the World Trade Organization (Paris). They work mainly to facilitate international businesses currently operating in Bangladesh.
Metropolitan Chamber of Commerce and Industry (MCCI) : MCCI is the leading chamber body composed of members from large local and multinational corporations. MCCI maintains regular liaison with major international trade bodies and foreign private sector organizations.