Bida unveils MCI to enhance local investment
Reza Mahmud:
The Bangladesh Investment Development Authority (Bida), on Thursday unveiled the findings of the Municipal Competitiveness Index (MCI) 2024 to enhance Bangladesh’s local investment landscape.
Business leaders have given importance on strengthening infrastructural development including energy, internet and roads and highways to enhance investment in local areas.
Bida in partnership with Swisscontact’s PRABRIDDHI project, hosted a high-level workshop in Dhaka for revealing the index.
Titled “The Role of the Municipal Competitiveness Index (MCI) in Strengthening the Investment Climate,” the event gathered senior policymakers, development partners, and private sector leaders at the Bida Multipurpose Hall. The workshop highlighted the competitiveness and investment readiness of seven pilot municipalities, outlining reform pathways to unlock economic potential at the subnational level.
The MCI, developed under the Bangladesh Investment Climate Improvement (BICI) programme and implemented by Policy Exchange Bangladesh, draws on extensive consultations and workshops held across the country in 2024. The index is designed to identify regulatory barriers and provide municipalities with a strategic roadmap to attract investment, strengthen governance, and drive economic growth.
Meanwhile, business leaders have stressed on infrastructural development first for enhancing local investment.
When contacted, Mir Nasir Hossain, former President of the Bangladesh Federation of Chambers of Commerce and Industry (FBCCI) told The New Nation on Thursday, “If the energy supply get sufficient, investment in local areas will be increased. You see, several export processing zone (EPZ) have been established in remote areas across Bangladesh. If we want to enhance investment in local areas, energy supply and road and other communications must be developed.”
The business leader said several industrial hubs have been built in different districts as per the availability of gas. So ensuring infrastructural development will enhance more investment in local areas.
Sources said, PRABRIDDHI – a Local Economic Development (LED) initiative – is jointly funded by the Governments of Bangladesh and Switzerland, and implemented by the Local Government Division (LGD) and Swisscontact.
In his remarks as chief guest, Chowdhury Ashiq Mahmud Bin Harun, Executive Chairman of Bida and BEZA (State Minister rank), hailed the MCI as a “timely and transformative” initiative.
“Investment facilitation in Bangladesh has historically been heavily concentrated in Dhaka,” he noted. “This index allows us to spotlight the untapped potential of municipalities as viable investment destinations. Strengthening local capacities and improving coordination among grassroots-level agencies can significantly increase investor appeal in these areas.” He further affirmed Bida’s openness to policy recommendations and its commitment to supporting efforts that address institutional constraints beyond the capital.