Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun said on Sunday that they are working to process the first five essential services for starting a business in a single application by the end of September.
"The services to be brought under one application are: name clearance, company registration, trade licence, TIN certificate, and bank account opening," he said at a memorandum of understanding (MoU) signing ceremony at the BIDA conference room in the capital, according to a press release.
BIDA signed MoUs with five organisations at its head office to facilitate this integration.
To incorporate these into BIDA's One Stop Service (OSS) portal, MoUs were signed with the National Board of Revenue (NBR); Registrar of Joint Stock Companies and Firms; Dhaka South City Corporation (DSCC); Dhaka North City Corporation (DNCC); Chittagong City Corporation (CCC); and Sonali Bank.
The BIDA chief stated that getting these services currently requires separate applications.
"Work is underway to develop individual online forms that will allow investors to access all five services through a single submission," he added.
He said that once the system is implemented, investors will receive faster and more streamlined services.
At present, BIDA's OSS platform provides 134 services from 44 agencies.
