Dhaka: Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun announced plans to streamline the process of starting a business by integrating five key services into a single application by the end of next September. The initiative aims to enhance efficiency and accessibility for investors.
According to Bangladesh Sangbad Sangstha, the services to be included in the new application are name clearance, company registration, trade licence, TIN certificate, and bank account opening. The announcement was made during a Memorandum of Understandings (MoUs) signing ceremony held at the BIDA conference room in Dhaka.
BIDA has signed MoUs with several organizations to facilitate this integration. These include the National Board of Revenue, Registrar of Joint Stock Companies and Firms, Dhaka South City Corporation, Dhaka North City Corporation, Chattogram City Corporation, and Sonali Bank PLC. The integration will incorporate these services into BIDA's One Stop Service (OSS) portal.
The BIDA chief highlighted that currently, obtaining these services requires separate applications. The new system will feature individual online forms, allowing investors to access all five services with a single submission. This development is expected to offer faster and more streamlined services to investors.
At present, BIDA's OSS platform provides 134 services from 44 agencies, marking a significant step towards improving the ease of doing business in Bangladesh.