Course Title : Business Statistics-2
Submitted To :
Md. Razib Alam
Associate Professor
Department of Marketing
University of Dhaka
Submitted By :
Mohammad Nurul Haque Emon
Roll : 115 Section : A
Batch : 25th
Department of Marketing
University of Dhaka
31-12-2020
Roles of BIDA and BEPZA in the economic development
of Bangladesh
BIDA
Introduction : Bangladesh Investment Development Authority (BIDA)is Bangladesh
government agency responsible for encouraging and facilitating private investment in
Bangladesh.
The Bangladesh Investment Development Authority was formed by the government of
Bangladesh on 1 September, 2016. It was formed through the Bangladesh Investment
Development Authority Act. The authority was formed through the merger of Board of
Investment and Privatization Commission. The authority has a 17-member governing body with
the Prime Minister of Bangladesh as the chairman and the Finance Minister as the vice
chairman.
Functions : The act created on September 01, 2016 mandated BIDA for providing
differentiated promotional and simplifying services with a view to quickening
industrial development of the country. In addition, the government also
delegated BIDA with some more functions in its service list. Combining all, BIDA’s
present functions can be characterized as follows:
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BIDA is responsible for the attraction of FDI into the country.
It provides key information that only a local can know.
It provides specialized support for strategic aspects once settled.
It assists the government in framing new policies for private sector
development. And also advocates policy suggestions to the government.
BIDA pre-investments information and counseling service.
Registration/approval of foreign, joint-venture and local project.
Registration/approval of branch/liaison/representative offices.
Approving work permit for the foreign nationals.
Facilitating utility connections (electricity, gas, water & sewerage, telecom
etc.)
Assistance in obtaining industrial plots.
Approving remittance of royalty, technical know-how and technical
assistance fees.
 Facilitating import of capital machinery & raw materials.
 Approving foreign loan suppliers’ credit, PAYE scheme etc.
Recommendations to BIDA :
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Decrease the time of getting authorization certificate or certificate for using land ,
membership or for environmental clearance.
BIDA provide 154 services through 35 private and public agencies so, it needs to increase
the number of agencies for providing effective services to foreign investors and this will
create hassle free environment.
Minimize process ,time and cost to get better position in the world Bank's ease of doing
business index.
Digitalize the platform for better communication with the foreign investors.
Remove corruption from this sector.
Offering the lucrative enticements to attract foreign investors.
BEPZA
Introduction : The BEPZA is the official organ of the government to promote, attract and
facilitate foreign investment in the EPZs. Besides, BEPZA as the competent Authority performs
inspection & supervision of the compliances of the enterprises related to social &
environmental issues, safety & security at work place in order to maintain harmonious labourmanagement & industrial relations in EPZs.
Functions :
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Boosting up foreign and local investment
Accelerating volume of export
Create job opportunity
Poverty alleviation
Transfer of technology and skill development
Development of backward and forward linkage industries
Promote accessories and supportive service enterprise
Recommendations :
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Reach the information of our market worldwide so that the investors can know.
Modernize all the facilities to attract investors.
More focus on Work place environment: Most of the garments owner of Bangladesh
don't provide suitable working environment and this demotivated foreign investors to
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invest in Bangladesh so BEPZA should put more focus on this for attracting foreign
investors to Bangladesh .
Motivating Joint venture and local venture: The involvement in EPZ via Joint venture is
only 14% and via local venture is only 28% .So BEPZA should find out why local venture
and joint venture are not much willing to invest and take appropriate initiative to
overcome the problems.
Administrative facilities: Administration facilities is not good in our country . Sometimes
local and foreign investors have provide bribe to the some corrupted officer of
government and ultimately this create a bad image of Bangladesh to foreign country
.Bad image ultimately demotivated the foreign investors and local investors to invest
that's why our country is getting worse day by day .So i strongly recommend to take
zero tolerance against bribery.
Providing Fiscal & non-fiscal incentives: If government provide monetary benefits
through tax savings and discount ,then it will attract large amount of foreign and local
investors to invest in Bangladesh. If government also simplified export and import
process then it definitely attract investors. So, it is recommended to providing fiscal and
non-fiscal incentives for attracting investment in Bangladesh.