Drawing strength from our vision to sustain our advocacy of a better Bangladesh with a brighter future, we are focused on championing causes and facilitating policies that enhance the vibrant participation of the diverse private sector. FICCI, as a key economic partner of Bangladesh, has embraced a number of spirited actions that express our core priorities, and we aim to continue to engage in bringing forth purposeful change through working more closely with the Government, through streamlining and enabling cross-border trade and investment, through disseminating useful research-driven market intelligence and through supporting regulation that benefits our membership and the wider mercantile ecosystem. Hence, with an eventful past, an energetic present, and an exciting future, we are focused on bolstering our reputation and position as a key developmental partner of Bangladesh and growing with our glorious nation.
- • To promote and protect the business interest of our members;
- • To render such assistance and advice to the government of Bangladesh and its concerned agencies/authorities which may help promote the growth of trade, commerce, and industry of the country in general and foreign investors, in particular, keeping in mind the interests of FICCI members;
- • To support or oppose, as the case may be, legislative or other measures of the government affecting trade, commerce, and industry of the country in general and the FICCI members in particular;
- • To help establish just and equitable principles in the domain of trade, commerce and industry of Bangladesh;
- • Ensure Public-Private partnership and effective collaboration with the relevant govt. agencies to serve the interest of FICCI members;
- • Facilitate the technological transformation for sustainable manufacturing base and entrepreneurship development;
- • Liaison with national and international public and private sector representatives to attract foreign direct investment in Bangladesh.
The Foreign Investors’ Chamber of Commerce & Industry (FICCI) was established on the 1st of July 1963 in the port city of Chittagong, under the name of the ‘Agrabad Chamber of Commerce & Industry’. Interestingly, at that point in time, most of the foreign companies, primarily British, had their establishments located in the coastal region of the country. Subsequently, after the emergence of Bangladesh as a sovereign and independent country in 1971, it was felt that FICCI’s office should be shifted to Dhaka, the capital city of Bangladesh, for practical reasons, and that the name of the Chamber should be suitably modified to reflect the evolved identity, taking into account the inclusion of foreign companies located outside the Chittagong region. Consequently, in June 1987, the Chamber assumed its present name, i.e. the Foreign Investors’ Chamber of Commerce & Industry (FICCI), and had its office shifted to Dhaka from Chittagong.
OUR SCOPE AND ACHIEVEMENTS
Renamed, revamped and re-energized in its rich 58-year legacy, FICCI has emerged as a renowned institution and a powerful voice backing sustainable economic expansion in the face of an ever-changing business environment. Further, with several pride-enhancing achievements over the years, the Chamber has made lasting contributions to the cause of elevating its members’ interests and allowing them to conduct business in the country effectively, seamlessly, and in a simplified way. Importantly, FICCI’s resilient efforts to improve the investment climate of our home country and allow its members to conduct business with ease has earned the Chamber the rare distinction of joining the league of global Chambers. FICCI was invited by the former U.S. Secretary, Hilary Rodham Clinton, to the Global Business Conference in the U.S. State Department, Washington DC. Such incorporation allowed FICCI to understand global best practices and policies in terms of trade and business and benefit its members through knowledge-sharing. FICCI is affiliated with the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) as an ‘A’ class Chamber and is also the founder member of the Bangladesh Chapter of the Paris-based International Chamber of Commerce-Bangladesh (ICC-B). The Chamber also liaises with the International Trade Centre (ITC), Geneva, and the World Trade Organization (WTO), Paris. Further, FICCI is also represented in various consultative and advisory committees of different Government ministries and agencies and has been able to establish itself as a positive force working relentlessly for the benefit of the nation and its affiliate members.
FICCI’s Contribution to Bangladesh Economy:
FICCI represent the active participations from more than 21 sectors, including Telecommunication; RMG and Textiles, Banking and Financial Institutions, Power and Energy, ICT and software, Freight Forwarding, Testing and Inspection, Pharmaceuticals & Healthcare etc., FICCI, from the very beginning was instrumental on contributing economy’s growth and development. The contribution of FICCI to Bangladesh covers the wide spectrum of economic value chain, such as, direct financial contributions to the economy, development of key growth sectors, and various welfare contributions to the society.
- • Bridging the communication gap digitally through the nation-wide mobile network and internet services coverage, which providing effective communication facilities to the people and business communities to engage with national and global business environment.
- • More than 10 crore people are getting direct benefit of telecommunication and internet facilities;
- • Generated more than 5 million employments direct and indirectly;
- • Currently, FICCI’s members are providing around 30% of government internal revenues, stands among top five revenue generating sectors across the country;
- • FICCI’s members are contributing around 90% of FDI in Bangladesh;
- • Only 14 member companies contribute around 25% of total DSE capital stock, which is 16 billion USD out of 65 billion total market cap.
- • Connecting Bangladesh to modern and cutting-edge technologies through technological transformation and up-gradation;
- • Ensuring energy security for the nation through investing on exploration of gas and natural resources in Bangladesh. Over the last decade, FICCI members have carried 80% of all gas exploration projects in Bangladesh contributing substantial extractable gas reserve to the nation.
- • FICCI has greatly contributed for local entrepreneurship development through establishing import-substitute industries in Bangladesh.
- • From the beginning, FICCI members are heavily investing on human resource development via. providing necessary skill development training not only for the workers but also the mid-level management, which was instrumental to enhance workers skill and reduce the dependency of overseas mid-level managers
Sustainable Business Model: Core Competencies of FICCI
FICCI, the apex body of the foreign investors acted as the catalyst for the socio-economic development of Bangladesh. As a non-profit organization, FICCI always encourages its members to do sustainable business, particularly to contribute for the community.
- • Supplied 50,000 sets of professional-grade medical PPE to 12 hospitals; and 1,000 high-quality ICU Personal Protective Equipment (PPE)
- • More than 300,000 individuals in 31 districts got clean drinking water, relief, and medical consultation with free medicine;
- • Installed 102 ﬁltration plants; purify around 530,000 litres of drinking water, meeting the need of around 260,000 people every day;
- • Installed around 2,590 units of solar home systems in around 29 villages of Bandarban, Khagrachari and Rangamati districts and more than 13,000 rural people have the access of electricity.
- • Providing safe drinking water and sanitation facilities to 10,000 garments workers in Narayanganj;
- • Generated employment facilities to more than 4,000 disabled workers in different RMG factories in Bangladesh;