Established under Investment Board Act 1989, the Board of Investment (BOI) is the principal private investment promotion and facilitation agency of Bangladesh. The act mandated BOI for providing diversified promotional and facilitating services with a view to accelerating industrial development of the country. In addition, the government also entrusted BOI with some more functions in its service list in the recent past. Combining all, BOI’s present functions can be categorized as follows:
- Country promotion
- Sector/industry promotions
- Publications on business processes
- Pre-investment information and counseling service.
- Investor welcome service (faster immigration).
- Registration/approval of foreign, joint-venture and local project.
- Registration/approval of branch/liaison/representative offices.
- Approving work permit for the foreign nationals.
- Facilitating utility connections (electricity, gas, water & sewerage, telecom etc.).
- Assistance in obtaining industrial plots.
- Approving remittance of royalty, technical know-how and technical assistance fees.
- Facilitating import of capital machinery & raw materials.
- Approving foreign loan suppliers' credit, PAYE scheme etc.
- Advocating policy suggestions to the government.
- Assisting the government in framing new policies for private sector development.
- Assisting the National Taskforce on investment climate facilitation.