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A new investment promotion agency, Invest Bangladesh Authority (IBA), has officially begun operations following the merger of the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA) and Public-Private Partnership Authority (PPPA).
The government issued a gazette on Thursday bringing the Invest Bangladesh Act, 2026 into effect and dissolving the three existing agencies.
According to BIDA sources, all activities of the three agencies will now be carried out under the name Invest Bangladesh. The new authority’s organisational structure, wings and teams will be formed gradually.
Under the new law, Invest Bangladesh Authority will operate as a statutory body headquartered in Dhaka. With government approval, it may establish branch offices in different parts of the country and liaison offices abroad.
The authority will be governed by a board comprising a chairman and seven members. The chairman will serve as the chief executive of the authority.
Its key responsibilities will include identifying investment opportunities, promoting Bangladesh to attract domestic and foreign investors, removing investment barriers and coordinating with relevant ministries and agencies.
Following the merger, the existing assets, records, agreements, liabilities and other matters of BIDA, BEZA and PPPA will be transferred to Invest Bangladesh. Officials and employees of the three agencies will also work under the new authority.