Dhaka: Executive Chairman of the Bangladesh Investment Development Authority (BIDA), Chowdhury Ashik Mahmud Bin Harun, announced today that the New Development Bank (NDB) is set to invest US$1 billion in Bangladesh over the next year. This announcement was made during the second day of the Investment Summit held at a hotel in the city.
According to Bangladesh Sangbad Sangstha, the NDB has already invested approximately $300 million in Bangladesh. The bank is expected to support both public and private projects through various financial instruments, including loans, guarantees, and equity participation. Chowdhury Ashik emphasized the NDB’s willingness to fund not only government projects but also private sector initiatives.
He highlighted efforts to encourage the NDB to consider funding social infrastructure projects, such as hospitals and housing. Additionally, foreign investors visiting Bangladesh’s Export Processing Zones (EPZs) and Economic Zones (EZs) have expressed interest in understanding the government’s plans to manage bureaucratic challenges that might affect business operations.
International delegates have also shown interest in the specific support the government can provide to facilitate investment and business activities in Bangladesh. Chowdhury Ashik mentioned inquiries from investors regarding the facilities or advantages offered by the government for business ventures.
He further noted that the Ease of Doing Business Index is outdated and should not be used as a current benchmark for evaluating business environments. Addressing challenges in the market, he acknowledged that every country faces its own set of issues. The BIDA chief assured that efforts are underway to resolve existing problems within the next one to two years.
In response to a question about US tariffs, Chowdhury Ashik remarked that tariffs are a global concern and not limited to Bangladesh, highlighting that it is a challenge faced by the entire world.