BOARD OF INVESTMENT ANNUAL REPORT - 2015bida.gov.bd/wp-content/uploads/2019/01/Annual-Report-2015.pdf · BOARD OF INVESTMENT ANNUAL REPORT - 2015 Board of Investment Prime Minister's

BOARD OF INVESTMENT

ANNUAL REPORT - 2015

Board of Investment Prime Minister's Office

Government of the People's Republic of Bangladesh www.boi.gov.bd

Drive/D/Personal/502.2016 Annual Report 2015

Board of Investment

ANNUAL REPORT

2015

Board of Investment Prime Minister's Office

Government of the People's Republic of Bangladesh www.boi.gov.bd


Annual Report 2015, Board of Investment, Bangladesh.

References to and citations from this Report is allowed, but must be properly acknowledged. This report is prepared under the guidance of Dr. Syed A Samad, Executive Chairman, Board of

Investment, Prime Minister’s Office.

The contents of this publication is contributed jointly by the wings of Board of Investment and compiled, summarized, edited and designed by the following team members:

1. Shamsunnahar Begum Director Convenor

2. Dr. Khandoker Azizul Islam Director Member

3. Sonjoy Chakrabarty Deputy Director Member

4. Umme Kulsum Deputy Director Member

5. Jeb-un Nessa Deputy Director Member Secretary

6. Md. Abu Sayed Mahmud Assistant Director Member

7. Md. Abu Hanifa Assistant Director Member

For further information on this Annual Report, please contact: Director (Policy and Planning) Board of Investment, Prime Minister’s Office Government of the People’s Republic of Bangladesh Jiban Bima Tower (17th Floor), 10 Dilkusha C/A Dhaka-1000, Bangladesh Phone: +8802 957 7271-2, 956 1416, 955 2097 Fax: +8802 956 2312 Email: [email protected] Web: www.boi.gov.bd

mailto:[email protected]

http://www.boi.gov.bd/


Contents

CONTENTS PAGE

Acronyms 6

Map of Bangladesh 7

Honorable Prime Minister’s Message 8

Executive Summary 9

BOI at a Glance 10

1. Board Management and Functions

11

a. The Board

11

b. Executive Council 13

c. BOI Offices: Head Office and Divisional Offices 14

2. BOI Investors Services 14

a. Investment Counseling

b. Industrial Project Registration

c. Approval of Foreign Commercial Offices (FCOs)

d. Work Permits in Industrial Projects and FCOs

e. Other Facilitations & Recommendations

f. Digital Automation of BOI Services

15

16

21

22

24

25

3. Investment Followed by 9 MEGA Projects 26

4. Actual FDI inflow in Bangladesh 33

5. Investment Promotion 35

a. Outward and Inward Investment Delegations

35

b. Seminars / Workshops 35

6. Bangladesh Road Show in UK: Beginning of a New Era

37

a. Publications 39

b. Other Promotional activities 39

7. Policy Advocacy & Consultations

40

8. Bilateral Investment Agreements

41

9. Training & Capacity Development

41

10. Budget and Accounts 42


APPENDICES PAGE

I. BOI Staff Position (31 Dec, 2015) 43

II. Divisional Offices of BOI 43

III. BOI Budget 2015-2016 (Fiscal Year) 44-46

LIST OF TABLES PAGE

Table-1 : BOI services by major categories delivered: Jan-Dec 2015 15

Table-2 : Private investment proposals registered with BOI from CY 2007 to CY 2015 16

Table-3 : Private investment proposals registered with BOI from FY 2007-08 to FY 2015-16 17

Table-4 : Sources of the foreign and joint venture projects registered in 2015 18

Table-5 : Top 10 local investment projects in 2015 19

Table-6 : Top 10 Joint venture & 100% foreign investment projects in 2015 20

Table-7 : Country wise list of established liaison, branch & representative (new & extension) office in 2015

21

Table-8 : Country wise work permit employed in private sector for industrial enterprise in 2015

22

Table-9 : Country wise work permit employed in private sector for commercial offices in 2015

23

Table-10 : Extent of BOI facilitation/recommendation services in 2015 24

Table-11 : FDI inflows by major sectors (in million US$) 33

Table-12 : FDI inflows by major sources / countries (in million US$) 34

Table-13 : Outward and inward investment delegations in 2015 35

Table-14 : List of seminars/workshops/symposium organized/partnered by BOI in 2015 35

Table-15 : Summary of major policy reviews made by BOI in 2015 40

Table-16 : BITs concluded with Bangladesh 41

Table-17 : List of major training programmes attended by BOI officials in 2015 41

Table-18 : BOI annual budgets since FY 2006-07 32

Table-19 : Audit objections and settlements (1989-90 to 2011-12) 32

Table-20 : BOI staff position on 31 dec 2015 43

Table-21 : BOI staff went into PRL in 2015 43

Table-22 : Function and authorities of the divisional offices of BOI 43

LIST OF EXHIBITS PAGE

Exhibit-1

: Monthly distribution of both local and joint & 100% foreign industrial projects registered in 2014 vs 2015 (million taka)

16

Exhibit-2 : Share of local vs joint venture & 100% foreign investment projects registered with boi from FY 2007-08- FY 2015-16 (in terms of nominal project value) (million taka)

17

Exhibit-3 : Sector wise distribution of projects registered with BOI (in terms of nominal project value)

18

Exhibit-4 : Recent trend in FDI inflow in Bangladesh (in million US$) 33

Exhibit-5 : FDI inflows by major sectors in 2015 26

Exhibit-6 : Foreign Direct Investment ( FDI) inflows by component in 2015 27

Exhibit-7 : Foreign Direct Investment ( FDI) inflows by component since 2008 34

Exhibit-8 : BOI Budget FY 2015-16 by major heads 42

Exhibit-9 : BOI Budget FY 2015-16 by major heads (revised) 42

Acronyms

ADP : Annual Development Plan IFC : International Finance Corporation

BCI : Bangladesh Chamber of Industries IPA : Investment Promotion Agency

BEPZA : Bangladesh Export Processing Zones Authority

IPR : Intellectual Property Rights

BEZA : Bangladesh Economic Zones Authority IRC : Import Registration Certificate

BICF : Bangladesh Investment Climate Fund IT : Information Technology

BITs : Bilateral Investment Treaties JBC : Jiban Bima Corporation

BOI : Board of Investment JV : Joint Venture

BOOT : Build, Own, Operate and Transfer Km : Kilometer

BOST : BOI Online Service Tracking System KPI : Key Performance Indicator

BOT : Build, Operate and Transfer LP : Land Permit

BSCIC : Bangladesh Small and Cottage Industries Corporation

MIDA : Malaysian Investment Development Authority

CBD : Central Business District MNCs : Multinational Corporations

CEPZ : Chittagong Export Processing Zone MOPTs : Ministry of Post And Telecommunications

CIS : Commonwealth of Independent States NBR : National Board of Revenue

CPA : Chittagong Port Authority NCBs : Nationalized Commercial Banks

CY : Calendar Year NCID : National Council for Industrial Development

DEPZ : Dhaka Export Processing Zone NOC : No Objection Certificate

DITF : Dhaka International Trade Fair NRB : Non-Resident Bangladesh

DTA : Domestic Tariff Area ORS : Online Registration System

DTTs : Avoidance of Double Taxation Treaties OPIC : Overseas Private Investment Corporation

EC, BOI : Executive Council, Board of Investment PMO : Prime Minister’s Office

EPB : Export Promotion Bureau PPP : Public Private Partnership

FBCCI : Federation of Bangladesh Chambers of Commerce & Industries

PI : Private Investor

EPZs : Export Processing Zones PSIG : Private Sector Infrastructure Guideline

FDI : Foreign Direct Investment SEZ : Special Economic Zones

FY : Fiscal Year TRIPs : Trade Related Aspects of Intellectual Property Rights

GDP : Gross Domestic Product UNCTAD : United Nations Conference on Trade and Development

GNP : Gross National Product UNIDO : United Nations Industrial Development Organization

GOB : Government of Bangladesh VAT : Value Added Tax

ICSID : International Center for Settlement of Investment Disputes

VOA : Visa on Arrival

IP : Import Permit WTO : World Trade Organization

P#6


Map of Bangladesh

P#7


P#8


Executive Summary The government of Bangladesh has established the Board of Investment (BOI) to encourage

investment in the private sector and provide necessary services for the establishment of industries to

contribute to the socio-economic development of Bangladesh.

Bangladesh offers the most liberal investment climate in south Asia. Bangladesh occupies a

strategic location as a bridge between South and South-East Asia and beyond. Private sector

investment is at the heart of economic growth in Bangladesh. Considering all the factors of doing

business, at present, Bangladesh is a unique place for investment. The present government is giving

more thrust on establishment of knowledge based hi-tech investment and the vision is to make Digital

Bangladesh by 2021 and a rich and developed country by 2041.

Board of Investment (BOI) had a busy schedule in 2015 with numerous activities and events

related to investment both from local and foreign sources. The major activities includes investment

promotion, investment facilitation, policy advocacy and after care services and research. In 2015, BOI

registered a total no. of 1537 Projects (Local, joint venture and 100% foreign investment) with

proposed investment of Tk. 949795.902 million.

According to various global ratings, Bangladesh considered as one of the most convenient

investment destinations. Under Prime Minister’s Office (PMO), Board of Investment (BOI) is the

apex investment promotion and facilitation agency of Bangladesh. It offers wide-ranging services to

the investors beginning from conceptualization to product marketing advice. Disseminating accurate

and reliable information to the investors is a key agenda for BOI.

The “Annual Report 2015” is a part of a series of publications made annually by BOI. It presents

facts and issues pertaining to the investment scenario of Bangladesh. This “Annual Report” would

assist the investors and the stockholders to get a preliminaring idea about the prevailing investment

climate of Bangladesh. It will be helpful for the investors to making decision and doing business in

Bangladesh.

P#9


BOI at a glance

1. Official Name : Board of Investment (BOI)

2. Controlling office : Prime Minister’s Office

3. Established on : 1 January, 1989

4. Mandated by : The Investment Board Act, 1989

5. Board composition

: 17 Board members headed by Honorable Prime Minister and Chairman

6. Chairperson : Sheikh Hasina, Honorable Prime Minister

7. Chief Executive : Dr. Syed Abdus Samad, Executive Chairman

8. Human Resources

: a. Approved: 293 persons in 2014. b. Existing : Total 157 (Appendix-1) (Class I-38; Class III-52; Class IV-67)

9. Offices : Headquartered in Dhaka and 5 divisional offices in Chittagong, Rajshahi, Khulna, Sylhet and Barisal.

10. Key Functions : BOI encourage private investment and provide necessary assistance to industries. More than 15 types of functions under following four categories:

a. Investment promotion; b. Investment facilitations; c. Policy advocacy & d. Research. In addition, BOI has also been mandated to function as secretariat for foreign commercial offices approved & work permits etc.

11. Investment services

: BOI provides 27 types of services to both local and foreign private investors from initial investment counseling to business start up.

12. Remarkable activities in 2015 (Jan-Dec)

: a. Investment Registration: Total 1537 projects with proposed investment of Tk. 949795.902 million (US $ 12123.032 million) registered.

b. Undertaking various reform initiatives to make BOI services more client-

oriented and simplified. These include:

Organizing monthly Executive Council meeting and fortnightly Inter-Ministerial meeting.

Introducing Online Service Tracking System (BOST) to ensure transparency in service delivery process.

An online business law database named ―Business Law Website‖ has been created for the investors and business community.

Online Registration Service (ORS) has been created to receive registration application online.

Establishing a comprehensive website with latest info base and making it a real e-gateway to BOI.

Publishing and distributing investment promotion materials like newsletters, brochure, workshops & seminars proceedings and fact sheet with up-to-date information.

Organizing and participating in the conferences, meetings, round table dialogues, seminars, expo fairs, business fair, workshops, road shows etc. in home and abroad to generate interests and awareness on investing in Bangladesh.

Providing expert inputs to the formulation and review of national policies related to private sector investment and industrialization.

P#10


1. BOARD MANAGEMENT AND FUNCTIONS

BOI has a 3-tier management structure namely, the Board, Executive Council and the Office. The

Board is chaired by the Honorable Prime Minister of the country, while the Executive Council and the

Offices of BOI are headed by the Executive Chairman. This Chapter describes the structure, functions

and performances of BOI management.

a. The Board

The Board of Investment was established in 1989 under the Investment Board Act 1989 to encourage investment in the private sector and to provide necessary facilities and assistance in the establishment

of industries.

Composition

Originally, the Board chaired by the Honorable Prime Minister with 18 members including four (4) co-opted members. With the merger of Ministries of Jute and Textile in 2004, the current memberships are 17. BOI Executive Chairman is the member-secretary ex-officio of the Board. Here is a list of the present Board members:

1. Honorable Prime Minister, Chairman.

2. Minister, Ministry of industries who is also Vice-Chairman, ex-officio.

3. Minister, Ministry of Finance, ex-officio.

4. Minister, Ministry of Power, Energy and Mineral Resources, ex-officio.

5. Minister, Ministry of Commerce, ex-officio.

6. Minister, Ministry of Textiles and Jute ex-officio.

7. Minister, Ministry of Planning, ex-officio;

8. Governor, Bangladesh Bank, ex-officio.

9. Secretary, Ministry of Industries, ex-officio.

10. Secretary, Finance Division, ex-officio.

11. Secretary, Internal Resources Division, ex-officio.

12. President, Federation of the Bangladesh Chambers of Commerce and Industries, ex-

officio.

13. President, Bangladesh Chamber of Industries, ex-officio.

14. Chairman, Executive Council, who is also its Secretary, ex-officio.

The Board also co-opted four additional members, namely:

15. Minister, Ministry of Foreign Affairs.

16. Minister, Ministry of Expatriate Welfare and Overseas Employment

17. Minister, Ministry of Post and Telecommunications.

18. Minister, Ministry of Science and Information & Communication Technology.

P#11


Composition of the Board

Name and Designation Position Name and Designation Position

Sheikh Hasina Honorable Prime Minister Government of The People’s Republic of Bangladesh

Chairman

Architect Yeafesh Osman Honorable Minister Ministry of Science and Information & Communication Technology Government of The People’s Republic of Bangladesh

Member

Amir Hossain Amu Honorable Minister Ministry of Industries Government of The People’s Republic of Bangladesh

Vice- Chairman

Honorable State Minister Ministry of Power, Energy & Mineral Resources Government of The People’s Republic of Bangladesh

Member

Abul Maal Abdul Muhith Honorable Minister Ministry of Finance Government of The People’s Republic of Bangladesh

Member Mr. Fazle Kabir Governor Bangladesh Bank

Member

Md.Imaz Uddin Pramanik Honorable Minister Ministry of Textile & Jute Government of The People’s Republic of Bangladesh

Member Md. Mosharraf Hossain Bhuiyan ndc Secretary Ministry of Industries Government of The People’s Republic of Bangladesh

Member

AHM Mustafa Kamal Honorable Minister Ministry of Planning Government of The People’s Republic of Bangladesh

Member Mr. Mahbub Ahmed Senior Secretary Finance Division Ministry of Finance Government of The People’s Republic of Bangladesh

Member

Honorable Minister Ministry of Posts and Telecommunications Government of The People’s Republic of Bangladesh

Member Md. Nojibur Rahman Senior Secretary Internal Resources Division Government of The People’s Republic of Bangladesh

Member

Nurul Islam BSc

Honorable Minister Ministry of Expatriates Welfare and Overseas Employment Government of The People’s Republic of Bangladesh

Member Abdul Mattub Ahmed

President The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI)

Member

Tofail Ahmed Honorable Minister Ministry of Commerce Government of The People’s Republic of Bangladesh

Member A K Azad President Bangladesh Chamber of Industries (BCI)

Member

Abul Hassan Mahmood Ali Honorable Minister Ministry of Foreign Affairs Government of The People’s Republic of Bangladesh

Member Dr. Syed A Samad Executive Chairman Board of Investment

Member -Secretary

P#12


Board Functions:

The key function of BOI categorized in the following areas : 1. Investment promotion; 2. Investment facilitation; 3. Policy advocacy; and 4. Research.

Briefly BOI functions are: a. Providing of all kinds of facilities in the matter of investment of local and foreign capital for the

purpose of rapid industrialization in the private sector.

b. Implementation of the Government policy relating to the investment of capital in industries in the private sector.

c. Preparation of investment schedule in relation to industries in the private sector and its implementation.

d. Preparation of area-schedule for establishment of industries in the private sector and determination of special facilities for such areas.

e. Approval and registration of all industrial projects in the private sector involving local and foreign capital.

f. Identification of investment sectors and facilities for investment in industries in the private sector and giving wide publicity thereof abroad.

g. Invention of specific devices for the purpose of promotion of investment in industries in the private sector and their implementation.

h. Creation of infrastructural facilities for industries in the private sector.

i. Determination of terms and conditions for employment of foreign officers, experts and other employees necessary for industries in the private sector.

j. Formulation of policies relating to transfer of technology and phase-wise local production in the private sector and their implementation.

k. Financing and providing of assistance in the financing of important new industries in the private sector.

l. Adoption of necessary measures for creation of capital for investment in industries in the private sector.

m. Collection, compilation, analysis and dissemination of all kinds of industrial data and establishment of data-bank for that purpose.

n. Doing such other acts and things as may be necessary for the performance of the above functions. o. Conducting research regarding investment and other policy preparation of the government.

b. Executive Council

Composition & Functions

Having delegated authority from the Board, Executive Council is the decision making body of BOI which works successfully. It consists of a Chairman and other members not exceeding six in number. Currently, there are four (04) members of the Executive Council. The Chairman of the Executive Council is the Executive Chairman and acts as the Chief Executive of BOI. The Executive Council advises and assists the Board in the efficient performance of its functions, is responsible for implementation of the decisions of the Board, and exercises such powers and performs such functions as delegated to it by the Board. Generally, Executive Council undertakes decisions in meetings and the meetings are held under the directives of the Executive Chairman.

P#13


Executive Council's Performance

Executive Council's meeting generally held on monthly basis. From 1 January 1989, the establishment of BOI till 31 December 2015, the Executive Council held 590 meetings. Among these, 8 meetings were held in 2015.

C. BOI Offices

The headquartered of BOI is in Dhaka and its five (5) divisional offices are in Chittagong, Rajshahi, Khulna, Sylhet and Barisal. The Divisional offices are delegated with some authorities to register projects, recommend services and provide counseling and facilitations.

C.1. Head Office

Board of Investment head office known as BOI office, Located at Dilkuska - the Central Business District (CBD) of Dhaka. All the functions and services of BOI are carried out at the head office. The Executive Council and senior management of BOI office are housed here.

C.2. Divisional Offices

The Divisional offices are delegated some authorities to register projects, recommend services and provide counseling and facilitations. The function, authority level and the mailing address are shown at Appendix -II.

2. BOI INVESTORS SERVICES

Being an Investment Promotion Agency BOI services that are available for the investors, could be categorized in three stages.

Stage 1: Pre-investment Information and Counseling

At this stage, BOI provides all sorts of information required by an investor to undertake initial investment move. Professional Investment & Business Counselors provide cordial assistance upon visit to the BOI office, over phone, by email & fax and express mailing. It also assists in getting BOI registration.

Stage 2: Special Welcome Service to Foreign Investors

BOI has Welcome Service Desk at Hazrat Shahjalal International Airport, Dhaka. It assists in obtaining necessary immigration and Visa on Arrival (VOA), Landing Permit (LP), hotel accommodation. It also provides necessary courtesy services and first hand investment counseling at the airport.

Stage 3: Investment Implementation and Commercial Operation

Once the investor decides to invest and forms a company, BOI provides following specific facilities and comprehensive services:

a. Industrial registration;

b. Recommendation of industrial Plot (if available)/ in any designated industrial area other than

BSCIC, BEPZA & BEZA;

c. Recommendation of utility connections (Gas, Electricity, Water & Sewerage, Telephone etc.);

d. Terms and conditions of foreign loan, supplier’s credit, deferred payment, PAYE scheme, etc.;

e. Recommendation for industrial IRC to CCE&I (Adhoc & Regular);

f. Permission/approval of branch office/liaison/representative office;

g. Import permit (IP) for import of capital machineries against foreign equity;

h. Import duty exemption and concession certificate on capital machinery clearance;

i. Work Permit (Technical, Commercial & Industrial);

j. Remittance of royalty, technical know-how and technical assistance fees;

k. Miscellaneous.

P#14


Table-1: BOI services by major categories delivered in 2015

Sl no

Service Category Unit 2015

(Jan-Dec)

1. Investment Counseling No. 6713

2. Project Registration No. 1537

3. Airport Welcome Service Person 68

4. Work Permit (New & Extension) Person 5993

5. Remittance Approval (Cases) No. 189

Million Tk. 9621.230

6. Foreign Loan Approval No. 132

Million US$ 1896.102

7. IRC Recommendation No. 1614

8. Import Permit and Capital Machinery Clearance No. 520

9. Visa on Arrival/Landing Permit Recommendation No. 290

10. Visa Recommendation (E/E1/PI) No. 2831

11. NOC for Industrial Plots Transfer No. 28

12. Branch Office Approval (New & Extension) No. 100

13. Liaison Office Approval (New & Extension) No. 219

14. Representative Office Approval (New & Extension) No. 14

15. Providing Information to applicant reporter No. 2

16. Press Release No. 7

Source: Policy and Planning, R & I-1 (Commercial & Industry) wing, Board of Investment

a. Investment Counseling

The BOI offers investment counseling to the investors aiming to help them in investment decision making. During the counseling the BOI officials advice the investors in choosing investment alternatives - from a host of potential sectors. Counseling process also highlights the regulatory procedures, costs of doing business, investment incentives, specific market access opportunities, comparative and competitive advantages of the sectors etc. So, counseling is the first step of direct services given by BOI to the investors.

Generally, the counseling is provided at the BOI offices. The Director ( Investment Facilities and

Services) is the focal point for specialized counseling. However, other related desks also provide investor counseling when requested. Besides, counseling is also provided through regular responses to emails, letters, faxes and telephone enquiries. Frequently, BOI extends outside counseling services to investors at the seminars, workshops, road show, symposium and exhibitions organized at home and abroad. In 2015, BOI has arranged 9 seminars/workshops and provided 6713 persons counseling in office to the prospective and existing investors.

P#15


b. Industrial Project Registration

According to the mandate given to the BOI, industries intend to be set up in the private sector, other than those falling within the jurisdiction of the Bangladesh Export Processing Zones Authority (BEPZA) or of the Bangladesh Small and Cottage Industries Corporation (BSCIC) and textile industries, have to be approved by the board and registered in the prescribed manner.

The BOI, since established, has been registering industrial projects as per clause 10 (1) of the Investment Board Act, 1989. It may be noted that registration is the prerequisite for getting services from the BOI at the implementation level and post-implementation of a project.

In calendar year 2007 a total of 1634 projects amounting Tk. 177,725.766 million was registered with the BOI which grew to 1537 projects in Calendar year (CY) 2015 with a total proposed investment of Tk. 949795.902 million. Table-2 presents the private investment proposals registered with BOI from

CY 2007 to CY 2015.

Table-2: Private Investment Proposals Registered with BOI from CY 2007 to CY 2015

Calender Year

Local Investment Proposals Registered

Foreign /JV Investment Proposals Registered

Total Investment Proposals Registered Total

Employment opportunity

(Person) Projects

Project Value

(Million Taka)

Projects Project Value (Million Taka) Projects

Project Value (Million Taka)

2007 1,482 133,018.057 152 44,707.709 1,634 177,725.766 375,477

2008 1,613 215,545.669 145 178,088.619 1,758 393,634.288 393,877

2009 1,395 181,321.715 129 46,896.015 1,524 228,217.694 287,782

2010 1,600 437,717.679 185 220,626.009 1,785 658,343.688 448,736

2011 1,755 546,067.600 219 485,008.252 1,974 1,031,075.852 503,983

2012 1,655 500,780.603 202 212,912.696 1,857 713,693.299 364,930

2013 1197 424887.312 181 204075.899 1378 626627.610 211695

2014 1432 647960.579 123 73406.615 1555 721387.194 253856

2015 1408 906029.066 129 43766.836 1537 949795.902 238354

Source: Policy and Planning wing, Board of Investment

A month wise analysis indicates that there were a mixed growth experiences in 2015 in comparison

with 2014 (Exhibit-1).

Exhibit-1: Monthly Distribution of both Local and Joint & 100% Foreign Industrial Projects Registered in 2014 VS 2015 (Million Taka)

27550 76213

64495

35378

60457

63640

81468

55385

77482

62642

65478

49323

125579

163304

90068

77426

36689

64541

44389 84639

57743

74540

51194

81549

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

CY 2014 CY 2015


P#16


BOI registered projects are dominated by the local investors both in terms of value and units. Among all the projects registered since FY 2007-08 about 73% are local and 27% Joint venture & 100% foreign investment projects (Table-3 & Exhibit-2).

Table-3: Private Investment Proposals Registered with BOI from FY 2007-08 to FY 2015-16(up to December)

Fiscal Year

Local Investment Proposals Registered

Foreign /JV Investment Proposals Registered

Total Investment Proposals Registered

Total Employment opportunity

(Person) Projects Project Value (Million Taka)

Projects Project Value (Million Taka)

Projects Project Value (Million Taka)

2007-08 1615 193,530.073 143 54,328.849 1,758 247,858.922 410,744

2008-09 1336 171,174.916 132 147,496.092 1,468 318,671.008 308,037

2009-10 1470 274,136.882 160 62,607.587 1,630 336,744.469 330,663

2010-11 1746 553,690.466 196 365,242.771 1,942 918,933.237 503,662

2011-12 1735 534,769.057 221 344,168.157 1,956 878,937.214 451,150

2012-13 1457 446148.388 219 220721.295 1676 666869.683 309709

2013-14 1308 497593.245 124 185318.034 1432 682911.279 224943

2014-15 1309 912730.712 120 80618.728 1429 993349.440 226411

2015-16 708 342729.889 66 19814.400 774 362544.289 111068

Total: 12684 3,926,503.828 1381 1,480,314.677 14065 5,406,818.814 2876387


Exhibit-2: Share of Local VS Joint venture & 100% Foreign Investment Projects Registered with BOI

from FY 2007-08 FY 2015-16(up to December) (in terms of nominal project value) (Million Taka)

Source: Policy and Planning wing, Board of Investment *Provisional

Shar

e of

Loca

l V

S F

ore

ign/J

V

Inves

tmen

t

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2007-0

8

2008-0

9

2009-1

0

2010-1

1

2011-1

2

2012-1

3

2013-1

4

2014-1

5

2015-1

6

Local Foreign

P#17


Sector wise Distribution

Chemical is the major sector of local investment projects and Engineering is the major sector of JV & 100% foreign investment projects in 2015. Besides these Service, Textile, Agro-based, Food & allied important sectors both in local & foreign investment. Following exhibit-3 presents a comparative scenario of the sector wise distribution of local and JV & 100% foreign projects in CY 2015:

Exhibits – 3: Sectorwise distribution of projects registered with BOI (in terms of nominal project value)

Sector wise Break-up: Local Projects Sector wise Break-up: JV & 100% Foreign Projects

Textile

17.61%

Glass &

Ceramic

2.46%

Engineering

10.94%

Chemical

26.81%

Tannery &

Leather

0.80%

Printing &

Publishing

0.89%

Service

25.13%

Misc

1.18%

Agro Industry

10.65%

Food & Allied

3.53%

Food & Allied

1.41%

Agro Industry

13.40%

Misc

5.99%

Service

18.86%

Printing &

Publishing

0.72%

Tannery &

Leather

6.63%

Chemical

13.23%

Engineering

32.10%

Glass &

Ceramic

0.00%

Textile

7.66%

Source: Policy and Planning Investment Monitoring wing, Board of Investment

Sources of Foreign Investment Projects

Bangladesh has proved to be a resilient and attractive investment destination even in the thick of a severe global economic downturn. New opportunities are emerging for foreign investors in Bangladesh everyday. As a result, the sources of new foreign and joint venture projects registered with BOI in 2015 received from 28 countries from different regions of the world. Table-4 presents the source-wise distribution of the BOI registered new projects in CY 2015.

Table-4: Sources of the Foreign and Joint Venture Projects Registered in 2015

Sl no. Country name Projects Investment

(Million Tk.) Investment

(Million US$)

1 Australia 1 55.000 0.705

2 British Virgin Islands 1 678.610 8.988

3 Canada 2 524.190 6.720

4 China 33 2052.491 26.223

5 Denmark 3 42.227 0.538

6 Germany 3 520.8 6.676

7 Hong Kong 1 100.000 1.282

8 India 10 2704.809 34.671

9 Italy 1 10.000 0.127

10 Japan 11 607.608 7.773

11 Kuwait 1 69.000 0.885

12 KSA 3 515.3 6.607

13 Lebanon 1 88.570 1.136

P#18


14 Malaysia 3 122.976 1.578

15 Mauritius 3 4436.888 57.274

16 Poland 1 70.606 0.894

17 S. Korea 10 705.103 9.029

18 Singapore 7 194.216 2.48

19 Spain 3 133.675 1.696

20 Sweden 1 1285.777 16.276

21 Taiwan 3 861.690 10.946

22 Thailand 6 1848.7 23.701

23 Sri Lanka 1 91.147 1.169

24 The Netherlands 3 414.59 5.308

25 Turkey 1 150.470 1.917

26 UAE 2 94.1 1.204

27 UK 2 49.5 0.635

28 USA 12 1473.468 18.74

Total 129 19901.515 255.178

Source: IM wing, Board of Investment

NB: The Difference between the figure shown in table-2 & 4 represents the addition of foreign investment in the existing projects.

Particulars of Local & Foreign Investors In 2015, BOI gave registration 1537 industrial project Local and Joint Venture & 100% Foreign. BOI registered projects are dominated by the local investors both in terms of value and units. Among all the projects registered by BOI top 10 local and top 10 Joint venture & 100% foreign investments particulars are shown in the following two tables 5 & 6.

Table 5: Top 10 Local Investment Projects

Name Sector/Products Proposed Investment

(Million Tk.)

1. M A F Petrochemicals Ltd. Petrochemical 111502.000

2. DJ Developer and Builders Ltd. Building Construction 86844.393

3. Bashundhara Textile Mills Ltd. Yarn, Dyeing 19774.110

4. H R Autometic Re-rolling Mills Ltd. Re-rolling 16377.508

5. Partex Petro Ltd. Petrocemicals 15759.200

6. Globe Edible Oil Ltd. Vegitable Oil 11313.000

7. Borak Real Estate Ltd. Hotel Motel Resturent (5 star) 9832.346

8. Deshbandhu Fibre Ltd. Polyester Fibre 8930.720

9. Shahid Solar Sale Car Ind: International Ltd. Vehicle Assembling 7413.425

10. Drug International Ltd. (Unit-3) Pharmaceuticals 5200.000

Source: R&I-2 wing, Board of Investment

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Table 6: Top 10 Joint venture & 100% Foreign Investment Projects

Name Sector/Products Country Proposed Investment

(Million Tk.)

1. Runner Automobiles Ltd. Engineering Mauritius & Bangladesh 4220.904

2. A.J Corporation Ltd. Service India & Bangladesh 1530.800

3. Dynamic Energy Plant Ltd. Chemical Sweden & Bangladesh 1285.777

4. Teleport Bangladesh Ltd. Service British Virgin Islands &

Bangladesh 678.610

5. C.P. Bangladesh Co. Ltd. (Unit-6). Agro-based Thailand 495.000

6. Chung Hua Aluminium Industry Ltd. Engineering Canada & Bangladesh 494.190

7. C.P. Bangladesh Co. Ltd. (Unit-36). Agro-based Thailand 494.000

8. Engreen Sharishabari Solar Plant Ltd Miscellaneous Germany & Bangladesh 482.000

9. Fu Wang-Chung Hua Proparties Ltd. Chemical Taiwan & Bangladesh 474.670

10. International Applicances Ltd. Engineering China & Bangladesh 400.000

Source: IM wing, Board of Investment

Thrust Sectors (As per National Industrial Policy-2010)

The thrust sector means those industries/industrial sub-sectors which have already been able to successfully contribute to the country’s industrialization and poverty alleviation by increasing GDP, creating employment opportunities and increasing export income. The List of thrust sector has been given below: 1. Agro-based and agro-

Processing industry 2. Human Resource Export 3. Ship Building

4. Renewable Energy (Solar Power, Windmill)

5. Tourism 6. Basic chemicals/dye and chemicals

7. ICT and ICT based service

8. Readymade garment industry 9. Active Pharmaceuticals Ingredient (API) Industry and Radio Pharmaceuticals Industry

10. Herbal medicinal Plant 11. Radio-active (diffusion) Application Industry (e.g. developing quality of decaying polymer/preservation of food/disinfecting medicinal equipment)

12. Development of Polymer Industry

13. Jute and Jute products 14. Leather and leather products 15. Hospital and Clinic

16. Light Engineering Industry

17. Plastic Industry 18. Furniture

19. Handicrafts 20. Energy Efficient Appliances/Manufacturing of Electronic goods/Development of Electronic materials

21. Frozen Fish Industry

22. Tea Industry 23. Home Textiles 24. Ceramics

25. Tissue Grafting and Biotechnology

26. Jewellery 27. Toy

28. Container Service 29. Warehouse 30. Innovative and import substitute Industry

31. Cosmetics and toiletries

Source : Website, Ministry of Industry, Bangladesh.

P#20


Reserved Sectors

Those industries that are necessary to be kept reserved by the government in the interest of national security and are sensitive had been identified as reversed industries. The List of reversed industries has been given below:

1. Arms and ammunition and other military equipment and machineries 2. Nuclear power 3. Security printing and minting 4. Aforestation and mechanized extraction with the boundary of reserved forest.

c. Approval of Foreign Commercial Offices Based on the Investment Board Act 1989, on 27 October 2003 by an executive order BOI was made the secretariat of an Inter-ministerial Committee responsible for approving the branch, liaison and representative offices of the foreign commercial undertakings and work permits to the foreign staff working in those offices. These branches, liaison and representative offices of the foreign-owned commercial undertakings are known as foreign commercial offices.

In 2015, the Committee approved 104 new branch/liaison/representative offices and extended the term of 333 such offices. Those foreign commercial undertakings originate from 39 countries of different regions (Table-7).

Table-7: Country wise list of established Liaison, Branch & Representative (New & Extension) Office in 2015

Sl. no.

Name of the country Branch office Liaison office

Representative office Total

New Extension New Extension New Extension

1. Australia 1 2 1 3 1 - 8

2. Belgium - - - 0 - - -

3. Bhutan 1 1 - 1 - - 3

4. Bermuda - 2 - - - - 2

5. Bahrain - 1 - - - - 1

6. Canada 1 1 - 3 1 - 6

7. China 3 4 3 2 - 1 13

8. Denmark 1 3 1 1 - - 6

9. France 2 3 - 4 - - 9

10. Germany 1 2 2 4 - 1 10

11. Hong Kong 2 4 16 45 1 1 69

12. India 4 12 8 19 4 1 48

13. Iceland - 1 - - - - 1

14. Italy 2 2 2 1 - - 7

15. Ireland 1 1 1 - - - 3

16. Japan 2 2 3 6 - - 13

17. North Kotea 2 1 2 1 - - 6

18. Kuwait 1 1 - 1 - - 3

19. Malaysia 1 1 - 3 - - 5

20. Mauritius - - 1 2 - - 3

21. Malagasy - 1 - - - - 1

22. Norway - 1 - 1 - - 2

23. Pakistan - 1 - 4 - - 5

24. Panama - 1 - - - - 1

25. Poland - - 1 - - - 1

26. Qatar - - - 1 - - 1

27. Russia 2 1 1 1 - - 5

28. Singapore 1 2 5 6 - 1 15

29. Spain 1 2 2 2 - - 7

30. South Korea 1 2 4 8 - - 15

31. Sri Lanka 1 2 1 - - - 4

32. Sweden - - - 2 - - 2

33. Switzerland - - 1 3 - - 4

34. Taiwan - - - 6 - - 6

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35. Turkey 2 1 2 1 - - 6

36. Thailand 2 1 - 1 - - 4

37. The Netherlands - - - 2 - 1 3

38. United Kingdom 1 2 1 9 - - 13

39. USA 1 2 1 17 1 - 22

Total 37 63 59 160 8 6 333

Source: R&I-1, Commercial wing, Board of Investment

d. Work Permits in the Industrial Projects and Commercial Offices

To work in the Bangladeshi factories/industries (outside EPZ areas) need to take permission from the BOI. In Bangladesh the investors are allowed to employ foreign experts/skilled technicians, managers in their commercial and industrial undertakings. Allowing of the foreign experts in the local industries aimed at ensuring proper technology and knowledge transfer from those experts. However, if the expertise is available locally, no foreign employment is permitted.

In 2015, BOI approved 5993 work permits. Among these, 37.61% were in the commercial offices and rest 62.39% were in the industrial projects. Besides, 42.48% were new and 57.52% were extension of the existing permits. Following two tables, 8 & 9 present the distribution of work permits in the industrial and commercial projects approved in 2015.

Table-8: Country wise Work permit employed in private sector for industrial enterprise in 2015

Sl. No. Country New Extension Total Work permit

1. Algeria 1 1 2

2. America 0 1 1

3. Argentina 0 1 1

4. Australia 6 6 12

5. Brunei Darussalam 1 0 1

6. Canada 6 3 9

7. China 232 305 537

8. Colombia 1 4 5

9. Denmark 3 2 5

10. Dominican 0 1 1

11. Dominican Republic 2 1 3

12. Egypt 3 5 8

13. Finland 0 1 1

14. France 3 7 10

15. Germany 2 10 12

16. Haiti 0 1 1

17. Honduras 2 5 7

18. Hungary 0 1 1

19. India 588 783 1371

20. Indonesia 16 15 31

21. Iran 1 0 1

22. Italy 5 4 9

23. Ivory Coast 0 1 1

24. Japan 8 13 21

25. Kazakhstan 1 0 1

26. Lebanon 0 1 1

27. Madagascar 0 1 1

28. Malaysia 7 13 20

29. Mauritius 17 22 39

30. Moldova 1 0 1

31. Myanmar 0 1 1

32. Nepal 2 7 9

33. New Zealand 2 2 4

34. Nigeria 1 0 1

35. North Korea 8 4 12

36. Norway 2 2 4

37. Pakistan 130 292 422

38. Philippine 53 63 116

39. Poland 1 0 1

P#22


40. Portugal 0 6 6

41. Romania 1 0 1

42. Russia 5 2 7

43. Serbia 0 1 1

44. Singapore 4 3 7

45. Slovenia 0 1 1

46. South Africa 6 3 9

47. South Korea 38 90 128

48. Spain 9 3 12

49. Sri Lanka 277 288 565

50. Sweden 1 1 2

51. Switzerland 0 2 2

52. Syria 0 1 1

53. Taiwan 6 25 31

54. Thailand 45 102 147

55. The Netherlands 1 1 2

56. The Philippines 6 14 20

57. Turkey 35 19 54

58. Turkeymenistan 1 0 1

59. U.K. 4 19 23

60. U.S.A. 7 10 17

61. Ukraine 11 0 11

62. Venezuela 1 0 1

63. Vietnam 0 4 4

64. Yemen 1 1 2

Total: 1564 2175 3739

Source: R&I-1, Industrial wing, Board of Investment

Table-9: Country wise Work permit employed in private sector for Commercial Offices in 2015

Sl. No Country Name New Extension Total Work permit

1. Australia 12 10 22

2. Algerian 2 2 4

3. America 20 42 62

4. Brasileiro 6 4 10

5. British 45 75 120

6. Bhutanese 4 3 7

7. Balarus 6 3 9

8. Colombia 5 2 7 9. China 65 70 135 10. Canada 26 23 49 11. Cameroon 6 2 8 12. Egypt 8 13 21 13. Ecuador 4 1 5 14. France 20 11 31 15. Germany 7 10 17 16. Italy 9 19 28 17. Indonesia 14 17 31 18. Irish 4 3 7 19. India 201 298 499 20. Iran 5 3 8 21. Japan 35 43 78 22. Jamaica 2 1 3

23. Kuwaiti 2 4 6

24. Keniya 2 1 3

25. Malaysia 19 17 36 26. Mauritius 1 3 4 27. Moxico 6 0 6 28. New Zealand 4 2 6 29. Norway 3 4 7 30. Nepal 4 3 7 31. Pakistan 15 30 45

P#23


32. Portugues 3 2 5 33. Portugal 4 2 6 34. Russia 5 5 10 35. Romania 4 5 9 36. South Africa 10 10 20 37. Sri Lanka 30 90 120 38. South Korea 40 45 85 39. Singapore 10 14 24 40. Switzerland 5 3 8 41. Swedan 15 14 29

42. Spanish 20 9 29

43. Saudi 3 2 5 44. Thailand 105 78 183 45. Taiwan 4 2 6 46. The Philippines 33 58 91 47. Turkey 25 33 58 48. U.S.A. 27 57 84 49. Ukraine 61 20 81 50. Uzbekistan 8 100 108 51. Venezola 2 1 3 52. Yemen 6 3 9

Total 982 1272 2254

Source: R&I-1, Commercial wing, Board of Investment

e. Other Facilitations and Recommendations Excluding above mentioned facilitation, BOI also provides the following facilities. Table-10 presents the extent of BOI services in those categories.

Table-10: Extent of BOI Facilitation/Recommendation Services in 2015

Services 2015

Remittances for Royalty, Technical Assistance Fee, etc. 189 cases

Tk. 9621.23 million

Recommendations-

1. IRC ( Adhoc & Regular) 1614

2. Import Permit & Capital Machinery Clearance

(i) Import permit (IP) for import of capital machinery against foreign equity 108 (ii) Import duty exemptions and concessions certificate on capital machinery

clearance 412

3. NOC for Industrial Plot Transfer 28

4. Industrial plot/Land Acquisition 05

5. Gas Connection 15

6. Power Connection 10

7. Telephone Connection 00

8. E/EI/PI Visa Recommendation 2831

9. Visa on Arrival/Landing Permit 290

10. Courtesy Service 68

Total 5570 Source: Board of Investment

BOI Organogram Based on the decision of 25th board meeting of BOI, an Organogram with 293 staff strength was approved. This approved Organogram is now under the process of implementation.

P#24


BOI Building Board of Investment (BOI), one of the most important organizations of Bangladesh, is now carrying out its day-to-day functional and service oriented activities from a rented building situated in Jiban Bima Tower, 10, Dilkusha Commercial Area, Dhaka-1000. Considering the necessity of present and future requirements of this organization, Government of Bangladesh has initiated a project for strengthening its full-fledged functional and service capabilities by constructing one 14-storied building with three basements at Agargaon, Sher-e-Banglanagar, Dhaka-1207. Honorable Prime Minister Sheikh Hasina has laid down foundation stone on 18 June, 2011 for the purpose of the construction of BOI own office building. The estimated cost of the project is 9834.85 lac taka will be met entirely from GOB fund and the building will have 36,298 sqm floor area along with other ancillary facilities under the execution of the Public Works Department (PWD) from July 2011 to June 2014.

f. Digital Automation of BOI Services

To digitalize BOI following digital services were implemented:

Online Registration System

The Board of Investment (BOI) has introduced Online Registration System (ORS) to help investors get their proposals approved faster and with less paper work.

BOI Online Service Tracking (BOST):

Board of Investment (BOI) is the first government agency to implement online service tracking system in Bangladesh, named BOI Online Service Tracking System (BOST). This service tracking system provides status update on any service requested by investors to BOI. Upon entering the service request ID, the status can be tracked online at the BOI website. The status report indicates the approval status, file location, process duration and further instructions to applicants, if any. BOI service desks are being brought under effective monitoring through BOST for speeding up the process. On the other hand, investors are in no need for frequent visits to BOI offices in order to follow up the latest status of their requested services.

Business laws: e-library: www.business/ors.gov.bd

The e-Library of business laws is a website containing all the business-related laws, rules and regulations, licensing/permit instructions, procedures and forms. Investors can search for relevant regulatory information from a single window with universal accessibility.

BOI Website: www.boi.gov.bd

Board of Investment (BOI) has a new and fully featured website, “www.boi.gov.bd” to provide local and foreign investors with the information, contact points and service commitments that they need. The main focus of the newly developed website is centered on a strong country marketing aspects. It marks a further step in the implementation of government’s Digital Bangladesh policy.

P#25



3. INVESTMENT FOLLOWED BY 9 MEGA PROJECTS In the globalized environment of trade and investments it is most important for countries to be competitive and the quality of infrastructure is a key input for it.

Energy and transport are essential elements of the modern production and distribution processes and the efficiency and relative cost of these inputs are often a key determinant of competitiveness in the global economy.

Infrastructure (transport and energy infrastructure) is a key pillar for economies like Bangladesh. Comparison of infrastructure among developing Asian countries shows that despite progress Bangladesh is still substantially deficient in terms of the quality of infrastructure. The gap in infrastructure quality is especially large when compared with Thailand, China, India and Sri Lanka. So Bangladesh needs to bring more focus to the efficient implementation of infrastructure investments along with necessary institutional changes relating to implementation, regulation, and policy formulation. Bangladesh wants to boost investment in infrastructure development by up to six times from current figures, in its quest for annual economic growth of 8.0 percent. Bangladesh now spends only two to three percent of GDP on such investment, but needs to invest up to 12 percent to achieve the target of becoming a middle-income country

Nine mega development projects by the government are well underway and are expected to have significant positive impact for the country.

All of the nine top priority Fast Track Projects costing around $40 billion have now gained pace, although some of them are a few years behind the schedule.

The projects are the Padma Bridge, Rooppur Nuclear Power project, Paira Sea Port, the coal fired large power projects of Matarbari and Rampal, Metro Rail and LNG terminal.

Recently, another project -- Padma Bridge Rail Link project -- was included in the set of fast-track project. But it has not seen much progress as the Ecnec approve the Tk 34,988-crore scheme only early this month.

A ninth such project -- the Sonadia Deep Sea port -- remains in the pipeline for now.

The Rooppur project alone claims $12.65 billion. The Paira port project, which would take seven years to complete in three phases, also may need over $15 b -- depending on the final plan. The feasibility report of the Paira port project was just submitted last month.

Construction of the LNG terminal started in 2010 but due to management issues, the project limped along for long although the authorities were holding unsolicited negotiations under the Special Act for 'Quick' Supply of Power and Energy, 2010. Finally the government signed contract with a US based company on March 31 last.

Besides, the government's initiative to build a deep sea port also suffered a delay of around five years. Back in 2009, following a Japanese study, the government had planned to build the country's first deep sea port in Sonadia off Maheshkhali. But now, the government has switched to a new location in Paira, off Patuakhali.

In the latest meeting of the Fast Track Project Monitoring Committee headed by the prime minister, on April 27, officials discussed inclusion of another project as fast track: the Railway track from Dohazari via Cox's Bazar to Gundum and Myanmar.

P#26


PADMA BRIDGE: PROGRESS SATISFACTORY

Originally planned to be completed by December 2013, the much-troubled Padma Bridge Project is now making good progress and it is expected to be completed by 2018.

According to official reports presented to the Prime Minister on April 27, the project marked 65 percent progress in constructing approach roads at Jajira, 73 percent at Mawa, main bridge and river training, 21 percent. Thirty-four percent progress has been made in bridge financing.

The project that saw several cost escalations is now being implemented at a hefty cost of $3.7 b. This cost jumped from $2.9 b at 2010—when the World Bank had agreed to fund it. After the WB withdrew its promise, the government began implementing the project from 2014 using its own resources.

METRO RAIL: PROJECT DEADLINE CUT BY ONE YEAR

The Metro Rail project was delayed by five years and was set to be completed in 2020. But now this 20-km vital rapid transit project may finish before the deadline. Work on the first part of the project from Uttara North to Agargaon will begin from early 2017 aiming to be completed by December 2019.

P# 27


Works between Agargaon to Motijheel would also start in 2017—but it would be completed in December 2020.

The $2.7b metro rail project got a shot in the arm upon receiving Japanese funding in February 2014.

On March 27 last, the government signed a contract with Japanese Tokyu Construction Company to develop the Metro Rail depot.

The project is currently facing some hurdle as certain roads were found not wide enough. Besides, an old temple stands on the way. The authorities are seeking a Tk 50 crore allocation to widen a road in the cantonment area and relocate Chakuli Temple from the Mirpur cantonment.

Once completed, the project would carry 60,000 passengers per hour and bring great relief to the city's notorious traffic congestion and delays.

This 20-km Metro Rail route, named Mass Rapid Transit (MRT) Line-6, will be constructed from Uttara to Bangladesh Bank and will have 16 stops.

ROOPPUR NUCLEAR POWER: PROGRESS SATISFACTORY

The 2400 megawatt Rooppur nuclear power project has made significant progress as it has initialled a $12.65 b financing agreement with Russia last December.

All preparatory construction works will be finished within this year, while certain field level works have been fully completed, a well-placed source said.

―We expect the financial agreement to be finalized by May, because we want to make advance payment from the next budget for equipment that takes around three years to construct,‖ he said.

Bangladesh will hold a discussion with Russia over the state credit agreement on May 16.

Russian state company Rosatom began working at Rooppur in mid 2013 and is currently undertaking a techno-feasibility study under a half-a billion dollar loan.

Rosatom's sister concern Atomenergoproekt—which is undertaking the study has recently floated a tender for engineering survey, environmental monitoring and development of project documents for the Rooppur NPP site.

The government expects the construction of the nuclear reactor to start early 2017 and be completed by 2020. The plant's trial operation target is in the following year but officials say the plant will begin operation from 2022.

P#28


LNG TERMINAL: SIX YEARS LATE, BUT DEAL SIGNED RECENTLY

After six years of floating the tender for the Liquefied Natural Gas terminal, Petrobangla on March 31 signed a contract with US based company Excelerate Bangladesh to build the floating terminal within two years investing $500 million.

Part of this project is building a 90 km gas pipeline from Maheshkhali to Chittagong to connect to the national grid.

The government will spend $1.5 b a year to import 500 million cubic feet of LNG per day from Qatar from 2017.

The LNG would be very costly, but it would not only diversify the country's primary energy sources—but also ensure that the gas-based industries and installations do not face a sudden death in the near future. It is expected that after mixing LNG with the national gas, the average price of national gas will have to be more than doubled to make it cost effective.

Excelerate Energy will realise $159,000 per day as rent of the floating terminal and $45,000 per day as operational charge. As a result, the price of each thousand cubic feet of natural gas from imported LNG would be at least $3.2.

RAMPAL POWER PROJECT: 2 YEARS LATE, BUT DEAL SIGNED RECENTLY

P#29


After initiating the project in 2010, the Rampal 1320 mw project suffered a delay of two years.

While there is widespread protest about the location of the power plant, the India-Bangladesh joint venture company in March has awarded Indian company Bhel the Engineering, Procurement and Construction (EPC) contract for the $1.5 billion dollar project. It is expected to come into operation in 30 months.

DEEP SEA PORTS: FEASIBILITY COMPLETED

The government has shelved Sonadia deep sea port and has concentrated on developing the Paira Deep sea port off Patuakhali with the aim to begin operation in a limited scale this year.

Meanwhile, a British company HR Wallingford has completed the feasibility study for Paira deep sea port. This would guide the government in finalizing the implementation plan.

Construction works for the deep sea port will be implemented through 19 different tenders.

Meanwhile, the government is reviewing merits of proposals from China, UK, Belgium, Netherlands, Denmark and India. They are interested to invest more than $15 billion.

The government has set short-term, mid-term and long-term goals for the port. In short-term, this year the government would facilitate outer anchoring of clinkering, fertilizer and other bulk ships.

In mid-term, the government would complete building a multipurpose and bulk terminal infrastructure by 2018 at a depth of 10 meter channel through dredging.

By 2023, a full deep sea port facility of 16 meter channel will be operational.

The Sonadia deep sea port remains as the eighth fast track project that could not proceed due to ―lack of investors' interest‖. A 10-member committee has been given the responsibility to look into proposals from different governments and make a decision.

P#30


MATARBARI 1,200MW COAL POWER PROJECT: PROGRESS SATISFACTORY

This project has full funding and its consultants are working from 2014.

The government's Coal Power Generation Company has acquired 1500 acres of land for the project. Ninety percent of boundary fencing of the project site has been completed and the appointment of the project's consultant is being finalised.

The project is actually taking a very long time to shape up because huge works were needed to develop the project site in Matarbari close to Maheshkhali.

The authorities have selected a contractor in February to complete power plant and port site preparatory work and are now processing contracts for power evacuation and building a power substation.

With a price tag of $4.6 b, this is one of the costliest power projects of its size in the world that will come with its own deep sea port to facilitate import of coal. The project will be completed by 2022.

RAIL LINK PROJECT The government allocated Tk 41,241 crore for having a better rail and road connectivity between the capital and the southern part of the country to reap the maximum benefit from the Padma Bridge Project.

Of the amount, Tk 16,492 crore will come from the public exchequer and the rest will be financed by a government-to-government (G2G) loan from China. Once implemented, the projects would boost the country's economic growth by 1.5 to 1.75 percentage points.

The Executive Committee of the National Economic Council (Ecnec) approved the construction of the 172-km Padma Bridge Rail Link Project involving Tk 34,989 crore and the 55-km Dhaka-Bhanga Four-Lane Project involving Tk 6,252 crore.

In order to ensure quick implementation of the rail link project, the government included it in the list of fast track projects directly supervised by the prime minister. The project would be implemented by 2022. A portion of the rail line will be completed by 2018 so that people can use Padma bridge by both road and rail. The government plans to open the bridge to public in December 2018. The approval of the rail link project came 17 months after the start of construction of the Tk 28,793-crore Padma Bridge Project.

In January last year, Bangladesh Railway signed a Memorandum of Understanding with China Railway Group Ltd which will finance Tk 24,749 crore. The Cabinet Committee on Economic Affairs approved the deal in March this year.

P#31


The project is divided into four segments -- Dhaka-Gendaria, Gendaria-Mawa, Mawa-Bhanga and Bhanga-Jessore rail tracks. The government made it a top priority to lay the rail track from Mawa to Bhanga in Faridpur so that people can use it from the day the Padma bridge is inaugurated.

Once the track is set up, the bridge will be connected with the existing Bhanga-Faridpur-Paturia-Rajbari rail route. The remaining segments of the project would be completed in four and a half years.

Bangladesh Army, along with BRTC and Buet, would be appointed as construction supervision consultant for acquiring land and implementing the resettlement plan quickly.

The rail line will connect Chittagong and Cox's Bazar with Kolkata, Myanmar and China in the future and help create a railway corridor between Bangladesh, China, India and Myanmar, according to project documents.

The track will go through seven districts of Dhaka division -- Dhaka, Narayanganj, Munshiganj, Shariatpur, Madaripur, Faridpur and Gopalganj -- and two districts of Khulna division --Narail and Jessore. It will later be stretched to Payra seaport in Patuakhali.

The track will be the most important rail corridor in the country in terms of passenger and goods transportation and help increase internal and regional trade and foreign investment in the country, say the documents. The Dhaka-Jessore rail line via Mawa has been included in Trans-Asian Railway network as a sub-route.

FOUR-LANE PROJECT To ensure smooth vehicular movement on the Padma bridge, the 55-km road from Dhaka to Bhanga via Mawa will be widened to four lanes from two lanes.

The road transport and bridges ministry already gave the task to the army. The deadline for implementing the project is 2019. Special Works Organisation of the army has prepared the Development Project Pro-forma (DPP) and taken initiative to implement the project.

P#32


4. Actual FDI inflows in Bangladesh The actual FDI Inflow (Up to 2015) statistics are collected and compiled by Bangladesh Bank through half-yearly Enterprise Survey. The survey recognized three components of FDI - equity capital, reinvested earnings and intra-company loan.

The following Exhibit-4 presents the recent trend in actual FDI inflow in Bangladesh since 2006.

Exhibit-4: Recent Trend in FDI Inflow in Bangladesh

Source: Statistics Department, Bangladesh Bank

Exhibit-5: FDI Inflows by Major Sectors in 2015 Total FDI was US$ 2235.93 million)

Textiles & wearing alone

consists of the 19.81% of the

FDI followed by Banking

13.85%, Gas and Petroleum

14.58%, Power 11.08%,

Telecommunication 11.39%

and Others 29.29%.

11.08%

14.58%19.81%

13.85%

11.39%

29.29%

Telecommunication

Banking

Textiles & Wearing

Gas & Petroleum

Power

Others

Source: Statistics Department, Bangladesh Bank *Provisional

A more detailed sector wise data is available at the following Table-11 Since 2006.

Table -11: FDI inflows by major sector’s (in Million US $)

Sector 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Telecommunication 346.50 201.90 641.39 250.14 359.82 180.99 374.97 324.89 226.79 254.58

Banking 117.67 79.96 141.76 142.57 163.07 249.37 136.47 327.48 311.87 309.64

Textiles & Wearing 70.11 102.34 126.36 133.97 145.19 272.04 307.48 421.63 390.92 442.92

Power, Gas & Petroleum 208.25 215.94 101.02 51.15 92.06 238.20 126.63 98.88 49.84 573.60

Food Products 8.98 9.84 22.89 24.54 12.77 22.97 74.55 40.13 53.19 125.18

Agriculture & Fishing 1.26 7.33 14.43 11.79 13.63 5.59 60.85 31.04 31.58 24.72

Others 39.71 49.06 38.46 86.00 126.78 167.22 142.36 355.11 462.51 759.34

Total FDI Inflows 792.48 666.37 1086.31 700.16 913.32 1136.38 1292.56 1599.16 1526.70 2235.93

792666

1086

700913

11361293

1599 1527

2236

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Million US$

P#33


Exhibit-6: Foreign Direct Investment (FDI) Inflows by component

in 2015

Reinvested earnings alone

consists of the 51.21% of the

FDI followed by Equity

Capital 31.17% and Intra-

company Loan 17.62%.

51.21%

31.17%

17.62%Equity Capital

Reinvested earnings

Intra-company Loans

Exhibit-7: Foreign Direct Investment (FDI) Inflows by components since 2008

Million US$

218.5

5

519.9

8

431.8

5

497.6

6

541.0

6

280.3

696.6

7

245.7

3

364.9

4

364.6

2

489.6

3

587.5

1

697.1

1

988.8

31.3

3

116.6

7

28.7

2

214.9

207.4

360.9

9

257.6

393.9

8

809.2

5

1144.7

2008 2009 2010 2011 2012 2013 2014 2015

Equity CapitalReinvested earningsIntra-company Loans


The inward FDI, 2015 was originated from more 61 economies/countries of the world with USA top in the list. Among the top 10 countries which constitute about 80.18% of the total inflow. USA, UK, Singapore, South Korea, Hong-Kong, Malaysia, India, The Netherlands, Norway and Srilanka are the top ten source country of FDI.

Table 12: FDI Inflows by major sources / Countries (In million US$)

Country 2015 % of total FDI

USA 573.77 25.67

UK 300.89 13.46

Singapore 175.27 7.84

South Korea 150.23 6.72

Hong-Kong 141.58 6.33

Malaysia 110.46 4.94

India 102.70 4.59

Netherlands 97.20 4.35

Norway 77.60 3.47

Srilanka 62.79 2.81

Others 442.99 19.82

Total FDI 2235.93 100


P#34


5. INVESTMENT PROMOTION Investment promotion is a multitasking activity starts with mere dissemination of information to outreach a host of potential investors locally and internationally. Being a IPA (Investment Promotion Agency) BOI undertakes investment promotion activities through advertising, developing promotional materials (Handbook, Brochures, Flyers and Newsletter), hosting website, organizing seminars, road show, inward and outward delegations, attending fairs/expositions and speaking in various investment events etc. At the following two tables-13 & 14 present the outward and inward investment delegations and seminars/workshops organized/partnered by BOI in 2015.

a. Outward and Inward Investment Delegations

In 2015, BOI organized and/or attended numerous outward and inward investment delegations. among those the major delegations were:

Table-13: Outward and inward investment delegations in 2015

Outward and Inward Investment Delegations Venue Date 1. The Delegation of China BOI, Dhaka 29 March, 2015

2. The Delegates of Shenzhen Textile Industry Association of China

BOI, Dhaka 01 April, 2015

3. A Delegation of Ambassador of European Union in Bangladesh

BOI, Dhaka 21 May, 2015

4. A Delegation of China Sonos Energy Saving Technology Co. Ltd.

BOI, Dhaka 04 June, 2015

5. Ms. Mubina Asaf, British American Tobacco and his Delegation.

BOI, Dhaka 02 August, 2015

6. Ambassador of Japan in Bangladesh and his Delegation BOI, Dhaka 23 September, 2015

7. A Delegation of China BOI, Dhaka 23 September, 2015

8. A Delegation of Chinese Investors BOI, Dhaka 30 September,2015

9. A Delegation of Thailand with Fact Finding Mission BOI, Dhaka 04 October, 2015

Source: Board of Investment

b. Seminars/Workshops

To promote investment locally and internationally, BOI organized and partnered a number of

seminars/workshops in 2015. These include following major events:

Table-14: List of Seminars/Workshops/Symposium Organized/Partnered by BOI in 2015

Seminars and Workshops Venue Date 1. Workshop on Leather and Leather Goods: Next to RMG FARS Hotel , Dhaka. 24 January, 2015

2. Workshop on Light Engineering and Automobile

Industrial Town at Bhola

Shilpakola Academy, Bhola 31 January, 2015

3. Seminar on Macroeconomic Policy Convergence BIAM Auditorium, Dhaka. 19 April, 2015

4. Discussion on State of the Economy Sagor- Runi Milonayoton, Dhaka 26 April, 2015

5. World Investment Report (WIR)-15 BOI, Dhaka. 24 June, 2015

6. Seminar on FDI and other Major Determinant of GDP: A

Relationship Analysis

BOI, Dhaka. 02 July 2015

7. Seminar on Different Aspects of Investment in Bangladesh Pan Pacific Hotel Sonargaon, Dhaka.

12 July, 2015

8. Seminar on Traffic Congestion in Dhaka City and Its

Impact

BOI, Dhaka. 12 November, 2015

9. Open Forum Discussion on State of the Economy BIAM Auditorium, Dhaka. 22 December, 2015


P#35


Meeting with Thai Delegation-04.10.2015

Pohela Boishakh, 14.02.2015

Discussion on State of the Economy, 2015 Sagor- Runi

Milonayoton, Dhaka.

Seminar on Macroeconomic Policy Convergence of BD,

2015 BIAM Auditorium, Dhaka.

Seminar on Traffic Congestion in Dhaka City and Its

Economic Impact, 2015 BOI, Dhaka.

P#36

Open Forum Discussion on State of the Economy,

22.12.2015 BIAM Auditorium, Dhaka.

Meeting with chinese delegation, 2015


6. Bangladesh Road Show in UK: Beginning of a New Era

The government of Bangladesh has set a target to become a middle income country by 2021. To

realize goals of Vision 2021, Bangladesh needs to increase its GDP growth rate from 6 percent to 8

percent. Therefore, this country has no other choice but to encourage more inward inflow of FDI.

Board of Investment (BOI), the apex body of investment promotion and facilitation in Bangladesh

organized a Road Show in London on 10-11 September 2015.

In recent years, the government of Bangladesh promotes investment as an effective tool of economic

development. Therefore the economic transformation of this emerging economy has been appreciated

both at national and global level. As an essential part of this transformation, the investment amount

set for the implementation of the activities of the 7th FYP plan is suppose to be BDT 31.9 trillion, 90.4%

of which will be financed from domestic resources and 9.6% from the external resources. Private

sector investment (BDT 24.65 trillion) will be dominant in the plan as 77.3% of the total investment.

Considering 7th FYP plan, BOI has taken initiative to hold a Road show in UK that is one of the top

investment nations in Bangladesh.

BOI is mandated to accomplish promotional activities to facilitate more investment in key sector and

industries in Bangladesh including road show, seminar, and workshop in home and abroad. (BOI)

organize road show abroad to attract FDI inflow in the country. BOI organized road show in India,

Hong Kong, Japan, Sweden and Germany that played a significant role to enhance FDI inflow and

added value to the Economy of the country. For an instance, 15 MOU have been signed during India

Road show in 2013 amounted as 94.50 million US Dollar. The ultimate goal of this road show is to

introduce Bangladesh as a dream investment destination and undiscovered and unexplored gem of

Investment in Asia. Therefore the venue is chosen in London to attract investors from UK, Europe

and England based other countries. Considering the experiences achieved in previous road shows,

BOI undertake more inclusive approach to organize this road show.

BOI has given focus on investing in Infrastructure and Energy sector in Bangladesh, Capital Market

for financing the growth, PPP to successfully accomplish mega development projects, Economic Zone

in Private & Public in Bangladesh, Alternative Power Sector, ICT Industry, Hi-Tech Park, Leather &

Leather Goods, Agro Business Industry, Telecommunication Industry, Tourism, Shipbuilding and

Plastic & Packaging Industry in Bangladesh. Therefore, BOI set the schedule of road show with a

combination of public and private sector. Power Division, Bangladesh Bank, National Board of

Revenue (NBR), Bangladesh Economic Zone Authority (BEZA) and Bangladesh Export Processing

Zone Authority (BEPZA), Public Private Partnership (PPP) Office, Bangladesh Security and Exchange

Commission (BSEC), Bangladesh Porjotan Corporation as well as Standard Chartered Bank,

Bangladesh, HSBC, Abdul Monem Group, Nitol Niloy Group, A.K. Khan & Company Ltd., Pran-RFL

Group, Farr Ceramics, Seamark Group, Unilever (Bangladesh) Limited, Walton, Aysha Memorial

Hospital (Pvt.) Ltd., Bay Emporium, Green Delta Capital Limited, Dhaka Cotton Company, Summit

Communications Limited, Win Sources Limited, Iqbal & Brothers, Wintel Limited, IFAD Group,

Aamra, Aristo Technologies Ltd. And Complete Structure Ltd. have taken part as participant as well

as panelist of discussion.

P#37


The investors usually want to share their views with the local investors regarding potentiality of

the particular sector before investing in a new horizon. They also want to learn the view of the

government in regards to the regulatory framework and prospect of that sector. To facilitate the

investors’ need, BOI has to organize Business to Business (B to B) and Business to Government (B to

G) sessions. Since the investors have been eager to invest in power sector and capital market most of

the B to G have to arrange with Tawfiq-e-Elahi Chowdhury, BB PhD, Adviser (Minister) to the Prime

Minister for Energy, Power & Mineral Resources Affairs, Mr. Monowar Islam, Secretary, Power

Division along with Dr. Atiur Rahman, Governor, Bangladesh Bank.

Few more B to G have been arranged to share the government views with the actual investors

with Mr. Abul Kalam Azad, Principal Secretary to the Prime Minister, Bangladesh, Dr. Syed A

Samad, Executive Chairman, Board of Investment, Mr. Mohammed Shoheler Rahman, Manager, MIS

& Research, Bangladesh Economic Zones Authority and Mr. Abdul Matlub Ahmad, President, FBCCI.

While the government has given focus on implementation of mega development project through

Public Private Partnership, a number of B to G sessions have also been arranged with Syed Afsor H.

Uddin , CEO, Public Private Partnership Office, Bangladesh.

Usually the most important outcome of any road show evolves from B to B sessions between the

investors of home country with the investors of Bangladesh. Standard Chartered Bank Bangladesh

has attended B to B with 5 financial houses in UK that has added value as much as 5.2000 Billion US$.

HSBC has got the opportunity to arrange a meeting with 4 financial houses of UK in the presence of

the Governor, Bangladesh Bank. It is encouraging that UK part shows keen interest to invest in capital

Market in Bangladesh through HSBC. Green Delta Insurance Company Limited and Green Delta

Capital have also got the opportunity to seat with 25 financial houses of UK. They received offer for

sanctioning the foreign loan for Bangladeshi entrepreneur at a low cost. The signing between HSBC

and Green Delta with their counterpart not yet disclosed as because of business strategy.

Managing Director of Hotel Agrabad Chittagong has attended an initial discussion with Hotel

Ramadah to establish four chain of that Five Star hotel in Chittagong, Sylhet, CoxBazar and Comilla

during the road show and have signed a contact with Hotel Ramadah in Delhi Last week. Dhaka

Cotton has also started discussion with their UK counterpart to establish a cotton warehouse and a

spinning Mill worth to 600 million US$. Leading Bangladeshi Infrastructure Developer Monem

Group has draw the attention of the European and Non Resident Bangladeshi (NRB) entrepreneur to

build joint venture to develop private Economic Zone in Bangladesh through their presentation

during the panel discussion on Economic Zone in Private & Public in Bangladesh in the road show.

NRB show their keen interest to invest in zone development as well as in chemical sector. London

based China company TBEA has submitted a letter of interest having worth of 5.2 billion US$ to

invest in coal based power generation and solar power as well as they are interested to invest in

infrastructure and other manufacturing sector.

Realizing the rhythm of digital Bangladesh, for the first time BOI has introduced digital

marketing for publicity through LinkedIn, Facebook, Google that has an positive impact on the

attendance. Eventually, the total number participant attended in Road show is 393. Investment is a

P#38


long term process however this time BOI is able to make a Positive Bangladesh idea to the foreign

investors through this Road Show.

a. Publications

To promote and facilitate better service BOI website always invites and manages investment queries. The role of promotion through website in the time of e-communications cannot be avoided. www.boi.gov.bd is the new and fully featured website of BOI. This website is being managed by a team of devoted staff and enthusiastic external technical.

b. Other Promotional activities

Besides, above activities BOI also attempted several types of programs and initiatives to promote investment in Bangladesh such as meeting, seminar, work-shop, Road-show etc.

P#39



7. POLICY ADVOCACY & CONSULTATIONS

The intention of the policy advocacy and consultations functions of BOI is to abate the authoritative burdens on the investors and promote a simpler, easier and hassle-free (effortless, smooth, uncomplicated and manageable) policy and regulatory environment. BOI executes this important function through:

a. Analyzing investment policies and suggesting for changes; b. Participating/performing in the review process initiated by others and suggesting changes.

Some of the important policy reviews/comments made by BOI in 2015 are presented below:

Table-15: Summary of major Policy Reviews Made by BOI in 2015

Sl. Policy Ministry/Agency

1. National Industrial Policy 2015 Ministry of Industries

2. National Urban Policy 2015 LGRD Ministry

3. Bangladesh Telecommunication Regulatory

Commission (Telecommunication Competition)

Policy, 2011

Bangladesh Telecommunication Regulatory

Commission(BTRC)

4. National Drug Policy -2015 Health and Family Welfare Ministry

5. Dhaka Structure Plan (2016-2035) Rajdhani Unnayan Kartripakkha (RAJUK)


P#40


8. BILATERAL INVESTMENT AGREEMENTS

Foreign Private Investment Promotion and Protection Act, 1980 proposes equal and impartial treatment to foreign private investment. Equel national treatment is also mentioned in bilateral investment treaties (BITs) for the promotion and protection of foreign investment.

Bilateral investment agreements which was concluded with 32 countries listed below in Table-16:

Table-16: BITs Concluded with Bangladesh:

1. Austria 2. Korea, DPR 3. Thailand

4. Belgium 5. Korea, ROK 6. UK

7. Canada 8. Malaysia 9. USA

10. China 11. Pakistan 12. Uzbekistan

13. France 14. Poland 15. Vietnam

16. Germany 17. Romania 18. Singapore

19. Indonesia 20. Switzerland 21. Denmark

22. Iran 23. The Netherlands 24. India

25. Italy 26. The Philippines 27. UAE

28. Japan 29. Turkey 30. European Community

31. Turkey 32. Belarus

9. TRAINING & CAPACITY DEVELOPMENT

In the field of human resource development, the most fundamental key is training of the officials on the latest strategies, tools and techniques. BOI organizes the training to its officials through various approaches- bilateral and multilateral partners, govt. agencies and self-sponsored etc. Here is a list of major training programs attended by different levels of BOI officials in 2015.

Table-17: List of Major Training Programs attended by BOI Officials in 2015

Training Programs Venue Date

1. Credit Suisse Asian Investment Credit Suisse

(Singapore) Ltd. 23-27 March, 2015

2. Workshop/Training on Performance Management Prime Minister’s

Office 15, 16, 18 March, 2015

3. Training on Public Private Partnership Prime Minister’s

Office 12 March- May, 2015

4. UNCTAD’S Regional Workshop on Fastering the green FDI Opportunity

UNCTAD 06-08 May, 2015

5. Trade of Investment Summit-2015 Midas Touch Asia (MTA) Singapore

26-28 August, 2015

6. Bangladesh Investment Summit Asia France Singapore

30 August- 02 September, 2015

7. Capacity Development of Export of Investment Promotion JICA 03 November – 05 December,

2015

8. 2015 BCIM Economic Corridor (Chengdu) Development Forum China

UNESCAD, Bangkok, Thailand

02-04 November, 2015


P#41


10. BUDGET & ACCOUNTS

a. BOI Budget 2015-16

For the current FY 2015-16, BOI has a non-development revenue budget of Tk. 102200 thousand which includes pays of officers and establishments, allowances, supplies and services, repairs and maintenance (Table-18).

Table-18: BOI Annual Budgets since FY 2006-07

Fiscal Year Budget

(Thousand Taka) Revised Budget

(Thousand Taka)

2006-07 52404 54846

2007-08 54921 61568

2008-09 64296 64306

2009-10 64736 76219

2010-11 73747 76652

2011-12 70000 79720

2012-13 72500 77689

2013-14 85000 90575

2014-15 92900 106665

2015-16 102200 14,22,11

Source: Finance wing, Board of Investment

Exhibit-8: BOI Budget FY 2015-16 by Major Heads Exhibit-9: BOI Budget FY 2015-16 by Major Heads

(Revised)

Allowances

25%

Supplies &

Misc

37%

selary

31%

oth

ers

7%

Oth

ers

5%

Selary

41%

Supplies &

Misc

35%

Allowances

19%


b. Audit

From 1989-90 to 2011-12, there have been 127 audit objections against BOI out of which 51 objections have been settled. BOI has been working with the Audit Department to settle the rest 76 audit objections. A summary of the status of the audit objections is given below:

Table-19: Audit Objections and Settlements (1989-90 to 2011-12)

Subject Number Amount (Million Taka)

Objections 153 711.518

Settlement 51 24.271

Remaining 102 687.247


P#42


Appendix I: BOI Staff Position (31 Dec 2015)

Table-20: BOI Staff Position on 31 Dec 2015

Staff Category Approved Existing Male Female

Class I 79 38 30 8

Class II -

Class III 135 52 43 9

Class IV 79 67 61 6

Total 293 157 134 23

Source: Personnel wing, Board of Investment

Table-21: BOI Staff went into PRL in 2015

Staff Category Went into PRL in 2015 Male Female

Class I 1 1 -

Class II -

Class III 11 9 2

Class IV 5 4 1

Total 17 14 3

Source: Personnel wing, Board of Investment

Appendix II: Divisional Offices of BOI

Table-22: Function and Authorities of the Divisional Offices of BOI

Sl. Divisional Office Function and Authority Contact

1. Chittagong Registration of Local & Foreign

Projects Unlimited

Board of Investment Chittagong Division

Government Office Building No-1 (3rd Floor), Agrabad, Chittagong.

Phone: 031-2520608 031-2520904

2. Rajshahi Registration of Local & Foreign

Projects Unlimited

Board of Investment Rajshahi Division, Rajshahi

Prime Minister’s Office Hia Bitan, C&B Mour

Kazihata, Rajshahi. Phone: 072-772047

3. Khulna Registration of Local & Foreign

Projects Unlimited

Board of Investment Khulna Division

BDBL Bhaban (9th Floor) 25-26 KDA C/A

Khulna-9000. Phone: 041-72007

4. Sylhet

Registration of Local Projects up to

Tk. 500 million. No Foreign Projects

Board of Investment Sylhet Division, Sylhet Prime Minister’s Office

Probaho -18, Taltola, Sylhet. Phone: 0821-724306

5. Barisal

Registration of Local Projects up to

Tk. 100 million. No Foreign Projects

Board of Investment Barishal Divisional Office

90/87, Jordan Road, Barishal. Phone: 0431-54797

P#43


Appendix- III: BOI Budget 2014-15

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P#44

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P#45


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P#46

Developing Bangladesh

How to spend it

An ambitious attempt to work out the best use for scarce resources (The Economist, April, 2016)

EVERY government minister, senior civil servant and charity official

is familiar with the pitch. Spend money on my project, says the supplicant: it will bring such large benefits that you will actually save money in the long run. At this, the official sighs, knowing that another supplicant with an equally bold pitch is waiting outside. How can he pick among competing pleas for bridges, IT systems, deworming medicines and a thousand other things? Next week, at a conference in Dhaka, the Copenhagen Consensus will try to answer that question. For more than a decade the think-tank has assessed the global costs and benefits of different development schemes.


Board of Investment

Prime Minister’s Office Government of the People’s Republic of Bangladesh

Jiban Bima Tower (19th Floor), 10 Dilkusha C/A, Dhaka-1000, Bangladesh. Phone: +88 02 716 9580-3 Fax: +88 02 956 2312

Email: [email protected], Web: www.boi.gov.bd

mailto:[email protected]

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