The National Parliament on Wednesday passed the “Invest Bangladesh Act, 2026” by voice vote, aiming to attract domestic and foreign investment, accelerate industrialisation, and provide integrated services for investors.
Under the provisions of the new law, a single entity titled the “Invest Bangladesh Authority” will be formed, effectively abolishing the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zone Authority (BEZA), and Public-Private Partnership Authority (PPPA).
The bill was moved in the parliamentary session on Wednesday by Home Minister Salahuddin Ahmed on behalf of Prime Minister Tarique Rahman. Following the motion, Opposition Member of Parliament Barrister Nazibur Rahman raised an objection, which was subsequently rejected by voice vote.
Opposition Leader Shafiqur Rahman also spoke on the matter before the home minister moved the final proposal for passage of the bill.
According to the legislation, Invest Bangladesh will serve as the country’s primary investment development and coordinating agency.
The authority is designed to simplify and expedite processes related to investment approvals, registrations, import-export activities, incentives, and industrial zone development. The draft of the bill had previously received final approval during a cabinet meeting chaired by the prime minister on 9 July.
The Act places significant emphasis on single window clearance, one-stop service, and the digitisation of licensing and approval processes. It also focuses on expanding public-private partnerships and generating employment.
The government maintains that this law will resolve existing policy inconsistencies and eliminate the duplication of responsibilities across various institutions, establishing an integrated management framework aligned with international standards.
Key provisions of the law include:
- Bringing economic zones, free trade zones, and declared industrial areas under a unified framework.
- Stipulating specific timeframes for the issuance of licenses and approvals.
- Simplifying approval processes for small-scale PPP projects.
- Utilising unused government land, installations, and other assets for productive purposes.
- Integrating all investment and business-related services into a single digital platform.
Moreover, the authority is mandated to identify investment potential, promote Bangladesh in international markets, coordinate with global agencies, and formulate investment-friendly policies.
The legislation also covers the approval of joint-venture initiatives, industrial capital formation, the recruitment of foreign officials and experts, visa recommendations, work permits, technology transfer, and the enhancement of local production capacity.
