Prime Minister is the head of a 17-member governing board of the BIDA while finance minister is the vice-chairman. Other ministers concerned are the board members.
Kazi M Aminul Islam, a retired secretary from Bangladesh civil service, has been appointed as executive chairman of the BIDA for next three years, according to a gazette notification.
The government decided to merge Board of Investment and Privatisation Commission after failure of these state-run organisations to adequately mobilise local and foreign investment in private sector.
The gazette notification signed by M Jasimuddin Khan, deputy secretary to public administration ministry, said Kazi M Aminul Islam will start working as BIDA’s executive chairman after he is discharged from other organisations and associations.
In September last year, the cabinet approved the draft of BIDA Act 2015.
According to the law, once BIDA comes into existence, it is expected to be able to increase investment in private sector reducing bureaucratic tangles in executing government decisions related to private investment.
BIDA is going to provide one-stop service in investment processing work.
Under the BIDA Act, the BIDA will register new private sector firms as well as foreign trade liaison offices in Bangladesh.
BIDA can also issue “no objection certificate” to declare areas as industrial zones through gazette notifications, assist authorities to acquire land, ensure efficient use of land and make list of unused land and structures and frame a policy to their utilisation, frame a guideline for allotment and transfer of plots.
Thursday, July 23, 2026
