Business Beginnings Boosted: BIDA Signs MoU with Six Agencies for Streamlined Services
In a move aimed at simplifying, expediting, and digitizing the process of starting a business in Bangladesh, the Bangladesh Investment Development Authority (BIDA) signed a Memorandum of Understanding (MoU) with six key government agencies.
The MoU was signed on Sunday, May 25, at BIDA’s conference room. The participating agencies include the National Board of Revenue (NBR), the Office of the Registrar of Joint Stock Companies and Firms (RJSC), Dhaka South City Corporation (DSCC), Dhaka North City Corporation (DNCC), Chattogram City Corporation (CCC), and Sonali Bank PLC.
The signing ceremony was attended by Chowdhury Ashiq Mahmud Bin Harun, Executive Chairman of BIDA and BEZA (with the rank of a state minister), who was present as the chief guest. The event was presided over by Shah Mohammad Mahboob, BIDA's Executive Member (Additional Secretary).
Under this MoU, entrepreneurs and investors will be able to access five essential services from BIDA’s One Stop Service (OSS) platform through a single application. According to BIDA, these services include name clearance, company registration, trade license, TIN certificate, and the opening of a bank account. All services will be accessible through a one-time application and single-fee payment on the OSS portal.
In his speech, Ashiq Chowdhury remarked, “In many countries, businesses can begin operations within seven days. We also dream of such efficiency. If the initial business startup services can be successfully integrated into BIDA’s OSS platform, it will become a reality in Bangladesh as well. Although this won’t happen overnight, it requires phased efforts and adequate preparation.”
He added, “At this moment, we are working to integrate five critical services needed to start a business into the OSS platform through a unified application. Our goal is to roll out these services online by September. Gradually, more services will be added to the platform.”
Ashiq Chowdhury further emphasized, “This service will particularly benefit the country’s small and medium entrepreneurs. They will be able to obtain all necessary licenses and approvals by filling out a single form, and the entire process can be tracked online. This is undoubtedly a game-changing initiative that will transform the business environment to be more accessible, faster, and digitally driven.”
Shah Mohammad Mahboob stated, “This digital and integrated service model based on the 'One Process, One Fee' concept will play a vital role in making the investment climate more effective and investor-friendly.”
BIDA Director General Jibon Krishna Saha Roy presented a visual demonstration of the integrated service model and its expected benefits for user businesses and investors.
Senior officials from the relevant agencies were also present at the signing ceremony.
