Investor Experience

About FICCI

The Foreign Investors' Chamber of Commerce & Industry (FICCI) was established on the 1st July 1963 in the port city of Chittagong to cater to the needs of the foreign companies operating in the region. It may be noted that at that point of time most of the foreign companies operating in the region were located in and around Chittagong.

After emergence of Bangladesh as an independent and sovereign country in 1971, the Chamber shifted its office to Dhaka (the capital city of Bangladesh) in June 1987.

FICCI is affiliated with the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) as an 'A' class Chamber and is one of the founder members of Paris based International Chamber of Commerce - Bangladesh (ICC-Bangladesh).

FICCI is represented in all the Consultative and Advisory Committees of various ministries and agencies of the government of Bangladesh. Its proposals/suggestions made from time to time always receive due consideration of the government.

Currently, FICCI has 129 ordinary and 6 associate members. All the multinationals and major joint-ventures in Bangladesh are members of this Chamber. Companies having a minimum of 50 per cent foreign share holding in their equity are eligible for ordinary membership and those with less than 50 per cent foreign share holding are eligible for associate membership.

The activities of the Chamber are guided by a nine member 'Committee'. The Committee is elected every two years by the general members and the Committee in its turn elects a President and a Vice-President from its own number.

Contact person : Jahangir Bin Alam, Secretary, FICCI

Prevailing investment scenario in Bangladesh

The investment and trade related policies of Bangladesh are liberal, private sector friendly and by far the best available in South Asia region. All the governments since 1991 have been pursuing a private sector led growth of the national economy and encouraging foreign direct investment. There is a political consensus among all major political parties in respect of pursuing free economic policy and private sector led growth. All the sectors excepting four, namely - 1) Arms/ammunition and other Defence Equipment and Machinery 2) Forestry 3) Nuclear Energy and 4) Security Printing are open to private investment including FDI.

Foreign investments are protected by Foreign Investment (Promotion and Protection) Act, 1980. There is no restriction on the limit of foreign equity participation i.e 100 per cent foreign investment in any undertaking is allowed. There is no restriction on repatriation of profits and income by foreign companies. Multiple visas and work permits for foreign investors and their expert professionals are easily available.

The incentive package offered for both foreign and local investments are very attractive.

Most significant FDI initiatives

Almost all foreign direct investment initiatives in the country are success stories. To name a few - American Express Bank, American Life Insurance Company, AES Haripur Private Ltd. (Power Generating Co.), Aventis Pharma, BOC Bangladesh Ltd., British American Tobacco Bangladesh, BASF Bangladesh, Bata Shoe Co., Berger Paints Bangladesh, Coats Bangladesh, Credit Agricole Indosuez Bank, Citibank N.A., Daewoo Bangladesh Co. Ltd., Fu-Wang Foods, Fu-Wang Aluminium, GlaxoWellcome Bangladesh, GrameenPhone Ltd., HSBC, James Finlay Limited, Japan Garden City, Lever Brothers Bangladesh, Nestle Bangladesh, Novartis Bangladesh, Picard Bangladesh, Reckitt Benckiser Bangladesh, ScanCement, Shell Bangladesh Exploration & Development B.V., Singer Bangladesh Ltd., Siemens Bangladesh Ltd., Standard Chartered Banking Goup, TM (Telephone Malaysia) International Bangladesh Ltd., Tae-Hung Packaging Bangladesh, Unocal Bangladesh, Youngone Corporation of Korea, Westmont Power Bangladesh.