The Board of Investment (BOI) was established by the Investment Board Act of 1989, to encourage and facilitate private investment. It is headed by the Prime Minister and is a part of the Prime Minister’s Office. Its membership includes representatives (at the highest level) of the relevant ministries — industry, finance, planning, textiles, as well as others, such as the Governor of Bangladesh Bank and heads of some business associations. The operating head of the BOI is the Executive Chairman who carries the rank of Minister. The functions of the BOI include investment promotion at home and abroad, registration of industrial projects, approval of payments for royalties and other fees when they exceed prescribed limits, issuance of work permits to expatriates, allotment of land in industrial areas, approval of terms and conditions for loans and credit, and assisting investors in acquiring infrastructure facilities. The BOI also includes a one stop-service center that offers pre-investment counseling, facilitation of utility connections and assistance with import clearance and warehousing licenses.
Bangladesh has a substantial number of business associations which play an important role in the economy. The basic objectives and principal activities of these bodies are broadly similar: they support market-oriented reforms, provide inputs into proposed policies and legislation from a business perspective, and serve as forums for the exchange of views among members and guests.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI)
The Federation of the Bangladesh Chambers of Commerce and Industry (FBCCI) is the apex body of the country’s trade bodies. It holds consultative meetings with the Government, makes representations on policy matters, and provides advisory services to investors. FBCCI is also the body that advises the Government on budgetary measures on behalf of the private sector.
Dhaka Chamber of Commerce & Industry (DCCI)
The DCCI, like the MCCI, offers an arbitration service for trade disputes. It also issues Certificates of Origin (CO) and authenticates export documents.
Chittagong Chamber of Commerce & Industry (CCCI)
CCCI, established in 1959, like other chambers consists of firms, companies and corporate bodies engaged in trade, commerce, industry, agriculture and manufacturing. The chamber represents the prime maritime port city and commercial capital of the country. A Memorandum of Understanding (MoU) was signed between the Chamber of Commerce in Chittagong and the Netherlands Embassy to support Dutch companies interested in opportunities in Bangladesh’s maritime and logistics sectors, facilitating an average of 20 companies in 2012.
Foreign Investors Chamber of Commerce & Industry (FICCI)
The FICCI was founded in 1963 in Chittagong and moved to Dhaka in 1987. It is a service-oriented association of companies with more than 50 per cent of their equity in foreign hands. Its purpose is to serve the interests of its members in the broad context of promoting the growth of trade, commerce and industry.
International Chamber of Commerce Bangladesh (ICCB)
ICCB was founded in 1995. Its objectives are to promote an open international trade and investment system and the market economy. Its membership includes domestic as well as foreign firms and among its main activities are those on such issues as competition, insurance and taxation.
Metropolitan Chamber of Commerce and Industry (MCCI)
The MCCI was founded in 1904 and counts among its members not only the major local and foreign business entities but most public-sector corporations as well. It also serves as the secretariat of the Bangladesh Employers’ Federation (BEF).
Bangladesh Women’s Chamber of Commerce & Industry (BWCCI)
BWCCI is the first chamber of commerce in the country exclusively working on women’s economic and social empowerment. It is a non-profit, non-political organization established in June 2001 with an aim to encourage and strengthen women’s participation in the private sector as entrepreneurs through promoting a women friendly business environment.
The Dutch Bangla Chamber of Commerce & Industry (DBCCI)
DBCCI was established in 1999 as the first bilateral chamber of commerce in Bangladesh. Its membership of 104 includes firms with 100% Dutch ownership, Dutch-Bangla joint ventures as well as local companies doing business with the Netherlands. The chamber strives to promote bilateral trade and investment between the Netherlands and Bangladesh as well as to serve the business interests of DBCCI members and the Dutch companies interested in doing business with Bangladesh.