A number of government agencies have started providing One-Stop Service (OSS) to investors aiming to improve Bangladesh’s position in the World Bank’s ease of doing business index.
Of the 18 agencies related to the service, the National Board of Revenue (NBR), Power Division, Department of Environment (DoE), Registrar of Joint Stock Companies and Firms, Rajdhani Unnayan Kartripakkha (Rajuk) and Bangladesh Bank have launched smooth services for the investors’ benefits.
Bangladesh Investment Development Authority (BIDA) revealed the information at a seminar titled “Bangladesh: Doing Business Reform Update” in a city hotel on Wednesday.
Chief Coordinator for Sustainable Development Goals (SDG) Abul Kalam Azad, Bangladesh Bank Governor Fazle Kabir, BIDA Executive Chairman Kazi M Aminul Islam and Secretary to the Legislative and Parliamentary Affairs Division Md Shahidul Haque spoke at the event.
The speakers said the OSS act would come into effect fully within the next six months, which is now waiting for vetting.
Abul Kalam Azad said reform and management towards the ease of doing business was an ongoing process and it should be more accountable.
“We have to set a long-term target and find ways to implement an environment to make business easy so it can serve the investors properly.”
Stressing the need for fetching huge investment for the country, Fazle Kabir said: “We need to receive huge investment from both local and overseas investors for a sustainable economy.
“We have to work on innovation and develop the ease of doing business climate for attracting foreign direct investment in the county.”
Bangladesh Bank is working on this and has signed an agreement with the IFC and the Ministry of Finance, the governor said.
BIDA Executive Chairman Kazi M Aminul Islam hoped that Bangladesh would upgrade its status in the ease of doing business index.
He said the country would rise above 100 within the next five years from its current 176th position.