Bangladesh Investment Development Authority set to expand OSS services

Lokman Hossain Miah, the executive chairman of the state-run investment promotion agency, conveyed this during a meeting at BIDA’s conference hall in capital Dhaka.

Miah highlighted the need for streamlined processes, emphasising that other nations provide investment-related services with greater efficiency.

He cited examples such as Vietnam, which delivers such services within 35 days, Indonesia within 48 days, and India within 60 days.

“In order to foster a conducive investment climate, we must minimise administrative hurdles and ensure that investors receive necessary services promptly,” the BIDA executive chairman asserted.

The expansion of BIDA’s OSS to encompass 150 services signifies a proactive step toward enhancing the ease of doing business in the country.

By broadening its service offerings, the state-run investment promotion agency aims to attract more domestic and foreign investment, thereby stimulating economic growth and development.

It may be mentioned here that efficient and timely provision of investment-related services is crucial for attracting and retaining investors and recognising the same, BIDA is committed to optimising its processes and reducing bureaucratic delays.

By benchmarking against international standards and best practices, the state-run investment promotion agency seeks to streamline procedures and enhance investor satisfaction.

Fibre2Fashion News Desk (DR)