BIDA and PRABRIDDHI collaborate to improve Bangladesh's investment landscape

The Bangladesh Investment Development Authority (BIDA) hosted a three-day workshop focusing on the Municipality Competitiveness Index (MCI) to address key reform agendas under the Bangladesh Investment Climate Improvement (BICI) Program. Held at the Heritage Resort in Narsingdi from May 12-14, 2024, the workshop aimed to enhance Bangladesh's business environment by examining reform agendas in collaboration with various ministries, divisions, and agencies.

The workshop emphasised the relevance of the MCI to the BICI pillars and local economic development. It outlined reform agendas in areas such as business entry, infrastructure, taxation, dispute resolution, and access to finance. Building on a prior event held in February 2024, the workshop stressed the importance of addressing business obstacles at the municipal level to create a conducive environment for both domestic and international investors. Representatives from 76 different government ministries, divisions, agencies, and development partners participated in the workshop.

BIDA has been actively collaborating with different ministries, divisions, and agencies to implement reform proposals aimed at enhancing Bangladesh's position on the World Bank's Ease of Doing Business Index. Despite the suspension of the Ease of Doing Business program by the World Bank, the National Committee for Monitoring Implementation of Doing Business Reforms (NCMID), led by the Cabinet Secretary, launched the BICI program to improve the business environment and increase investment across the country.

PRABRIDDHI, a Local Economic Development (LED) project funded by the governments of Bangladesh and Switzerland and implemented by the Local Government Division (LGD) and Swisscontact, is facilitating collaboration between BIDA and the LGD to implement the BICI program and integrate the MCI into it. This collaboration aims to engage municipalities nationwide, leveraging the MCI as a comprehensive tool to assess competitiveness and ease of doing business at the municipal level.