Bangladesh Investment Development Authority (BIDA) has added three more services including National Identity Card (NID) verification under the One Stop Service (OSS) Centre to provide all necessary services for investors from a single window.
The new services are applicants’ NID verification from the Bangladesh Election Commission’s server, security clearance from Home Ministry’s Security Service Division, and land clearance from Chittagong Development Authority (CDA).
Prime Minister’s Private Industry and Investment Affairs Advisor Salman Fazlur Rahman formally inaugurated the integration of the services, while BIDA Executive Chairman Md Sirazul Islam presided over the virtual event on Wednesday.
Sirazul Islam said: “We are working closely with our partners to achieve the target of delivering 150 services of 35 agencies through the OSS by 2021.”
Salman Fazlur Rahman said the initiative will help to achieve significant progress in the Ease of Doing Business Index of the World Bank.
He said Bangladesh will attain double digits in the global Ease of Doing Business ranking in 2021 amid the impact on the country’s economic activities, hit by the Covid-19 pandemic.
Salman also said: “Though senior government officials feel the importance of Ease Of Doing Business Index for investment, the officials of field level do not realize it. So, they have to realize it and work cordially for the sake of the country’s development.”
The private sector is contributing well in the country’s economy as the government has made a favourable environment for the sector, he added.
“We would like to achieve the developed country’s status by 2041. It is not possible without more investment here. So, we all have to work collectively to increase investment and improve economic growth,” said Salman.
Weak tax structure
Salman said Bangladesh’s tax to GDP ratio is very low among south Asian countries due to weak tax structure.
“We have to expand the tax net. Those who are paying taxes are in pressure but those who are able to pay tax, they do not pay it. So, tax structure should be changed,” he added.
Md Shahiduzzaman, secretary to the Security Service division, Md Alamgir, secretary to the Bangladesh Election Commission, and Md Shahid Ullah Khandaker, secretary to the Housing and Public Works Ministry, spoke at the event.
According to the BIDA data, the country’s first inter-operable online service platform the BIDA OSS now provides 21 services.
On February 24, 2019, BIDA launched the One Stop Service Centre for investors.
The rules framed under the One-Stop Service Act 2018 make it compulsory for 25 investment facilitating agencies and regulatory authorities to give registration, issue clearance, permits and other documents within a day to up to 45 days.
