From high-rise offices in Dhaka to the ports of Chattogram, Bangladesh is rolling out the welcome mat for investors, and Turkish companies are paying close attention. Chowdhury Ashik Mahmud Bin Harun, executive chair of the Bangladesh Investment Development Authority (BIDA), says the South Asian nation is no longer just a low-cost manufacturing hub but a strategic destination for trade, technology and defense collaboration.
Currently on an official visit to Türkiye, Ashik spoke to Daily Sabah in an interview, in which he outlined a sweeping agenda of reforms, digital innovations and partnerships aimed at turning Bangladesh into one of Asia’s fastest-growing investment hotspots.
“An investment-friendly environment is built,” he said, citing a road map of 32 reform initiatives designed to improve ease of doing business, streamline approvals, and strengthen investor protections.
Bangladesh’s current interim government, led by Nobel laureate Professor Muhammad Yunus after a massive student-led uprising in 2024, has ushered in a rare window for rapid reforms, Ashik said.
Key reforms include the digitalization of permits and work visas, the establishment of an Investor Relationship Management team at BIDA, and the modernization of ports and customs. Financial measures such as simplified profit repatriation and bond license reforms have already won praise from Turkish investors, including Arçelik-owned Singer Bangladesh.
Bangladesh’s economic growth has remained resilient despite political change, with GDP growth averaging 6%-7% and remittances rising 21% last year. The country is now South Asia’s second-largest economy, with 170 million people – half under 30 – representing both a dynamic workforce and a fast-growing consumer market.
“Investors see Bangladesh as a land of opportunity,” Ashik said. “Its strategic location between South and Southeast Asia gives access to over three billion consumers through emerging ports and transport corridors. Recent reforms have helped FDI inflows jump 76% this year.”
With a diversified FDI strategy targeting 19 high-potential sectors, Bangladesh has positioned itself as a regional hub for logistics, energy, manufacturing, and technology. The government’s commitment to continuity, transparency, and stakeholder engagement ensures that these reforms will outlast the interim administration.
While acknowledging historic infrastructure gaps, Ashik said the government is taking decisive action. LNG imports are increasing, offshore exploration continues, and a new Power and Energy Sector Master Plan is set to integrate renewable energy and strengthen the national grid. Port reforms and the development of new terminals, including Matarbari deep-sea port, are set to double container-handling capacity by 2030.
The BIDA chairperson highlighted that bureaucratic hurdles are being tackled through digitalization, process automation, and centralized investor services. “Our goal is to replace an opaque, discretionary system with a transparent, rules-based one,” Ashik said.
Ashik said Türkiye’s expanding defense and technology sectors present opportunities for co-investment and technology transfer. Bangladesh seeks collaboration in small-scale defense products such as communications systems and precision parts, potentially via a dedicated military economic zone.
The partnership extends to agriculture and food processing, with Bangladesh offering fertile land, year-round cultivation, and an expanding processed food market. Turkish expertise in agro-technology, cold chains, and value-added food manufacturing complements Bangladesh’s low-cost production and strategic market access.
Ashik said that health care, IT and BPO sectors also offer fertile ground for Turkish investment. Bangladesh spends $5 billion annually on medical treatment abroad, highlighting opportunities in hospitals, pharmaceuticals, medical devices and digital health. Meanwhile, a growing digital workforce combined with policy support, hi-tech parks and tax incentives makes the IT and startup ecosystem attractive for Turkish and other foreign investors.
Bangladesh-Türkiye trade has steadily grown, surpassing $1 billion in 2024, with Turkish FDI, though modest at $220 million, gaining momentum. Landmark investments include Coca-Cola Içecek’s acquisition of International Beverages Private Limited and Aygaz United LPG Ltd.’s expansion in Chattogram. Upcoming engagements, including the Bangladesh-Türkiye Investment Seminar in Istanbul, aim to fast-track investment dialogues in textiles, retail, power, renewables, processed foods, ICT, logistics, construction, FMCG, health care and consumer electronics.
Ashik emphasized that domestic investment remains vital, noting over $10 billion in new commitments. Local industrial ecosystems in garments, pharmaceuticals, ceramics and agribusiness create opportunities for foreign investors entering joint ventures, he said.
Bangladesh also views its nearly 7.5 million-strong migrant community as a strategic investment constituency. Initiatives like NRB Connect Day and the “Shubheccha” digital platform aim to channel diaspora remittances into productive investments.
As Bangladesh nears graduation from least-developed country status, the focus is on export diversification, competitiveness and strengthening institutions to support sustainable investment. “The lesson is clear,” Ashik said. “Bangladesh is attracting both large-scale investors and niche entrants, and those who come early in sectors like energy, consumer goods, or specialized manufacturing are best positioned to benefit from a dynamic, diversifying market.”
With Türkiye emerging as a strategic partner across defense, agriculture, health care and technology, and with comprehensive domestic and foreign investment initiatives in place, Bangladesh is signaling that its doors are wide open, and Turkish investors are among the first to notice.
