The national taskforce led by the Bangladesh Investment Development Authority (Bida) to advance the country’s semiconductor sector will submit its research report in July, said Bida Executive Chairman Chowdhury Ashik Mahmud Bin Harun.
The taskforce was formed as part of the FDI heatmap unveiled by the Bida in January to attract foreign investment.
In a Facebook post today, Ashik, also the executive chairman of the Bangladesh Economic Zone Authority (Beza), said work on the FDI heatmap, along with 17 additional initiatives, is progressing ahead of schedule, as he shared a “report card” upon completion of eight months in office.
He said as a follow-up to the FDI heatmap, work on a research is currently underway to identify priority sectors for investment and to outline the sectors that will receive governmental support in the future. “As a sequel [to the FDI roadmap], a semiconductor task force has been formed. They will submit a report next month.”
Ashik said at the very beginning, 30 steps were identified based on the recommendations of more than 200 domestic and foreign entrepreneurs and CEOs, of which 18 are ahead of schedule, seven are progressing as planned, and five are falling behind the timeline.
He said the initiatives that continue to advance ahead of the deadline include arranging consultations with investors, prioritising five economic zones rather than 100 zones, publishing a roadmap detailing the infrastructure of the five zones, establishing a defence economic zone to enhance the capacity of the military sector.
Among the initiatives currently in progress as planned are arranging monthly intra-ministry coordination meetings on business situations, introducing digital invoicing and a “green channel” or an authorised economic operator at the NBR, and establishing free-trade zones at sea ports.
The measures that fell behind plans include the formation of a private sector advisory council, the overhaul of the capital repatriation policy, and the adaptation of the energy security assurance strategy.
Ashik further mentioned that the investment volume from October to April of FY25 is almost equivalent to that of the same period in the previous fiscal year. He credited the sustained growth primarily to the increase in reserves and the stability of the exchange rate.