The government is likely to appoint the Integrated Marketing Service Ltd for management of the upcoming ‘Bangladesh Investment Summit 2025’ to be held in the capital in Aril 7-10, said officials.
Last week, the Bangladesh Investment Development Authority received consent from the advisory council on economic affairs for appointing a firm with the direct purchase method with an estimated contract price of Tk 2.12 crore.
BIDA’s previous bid to select a firm through open tendering in January failed to bring any desired outcome.
Officials said that the Integrated Marketing Service Ltd along with 10 other firms competed in the tender but failed to meet all criteria of the tender.
Because of shortage of time, BIDA is going seek the advisory council of the government purchase soon to appoint the Integrated Marketing Service Ltd on the direct purchase method.
IMS executive director Nazmus Sakib Rahman on Saturday said that they were not aware about the development regarding the appointment of their company in the upcoming event management.
Admitting that they have competed in the bid, he said that he could only explain the nature of management once his company signed a contract with the BIDA.
Chief adviser Muhammad Yunus is expected to inaugurate the event.
BIDA expects that they will redefine the future of investment in Bangladesh, one of the world’s most dynamic markets, by the event to be participated by investors at home and abroad.
The event is going to be arranged against the backdrop that the foreign direct investment flow to the country in FY23–24 dropped to a decade low amid negative credit rating, dollar shortage, political uncertainty, inefficient bureaucracy, and corruption.
The FDI, however, in FY23–24 fell by 8.80 per cent to $1.47 billion from $1.6 billion in FY22–23 and $3.44 billion in FY21–22, according to Bangladesh Bank.
The FDI flow in FY23–24 has been the lowest in the past decade.
In FY13–14, the country received $1.48 billion, according to the central bank.
The last BIDA summit-- the International Investment Summit—was held in November 2021. In 2023, the Bangladesh Securities and Exchange Commission and the BIDA held a roadshow in Japan to reach out to non-resident Bangladeshi investors and attract foreign investment.
