OSS Optimization: BIDA Speeds Payment Approvals by 92%

The Bangladesh Investment Development Authority (BIDA) has significantly simplified and accelerated various payment approval processes through its One Stop Service (OSS) platform. Stakeholders say the initiative will be considered a major step forward in improving the country’s investment climate and attracting foreign investors.

BIDA officials said that, with the service now fully operational online, the time required for approvals related to the high-level ICT Cell and outward remittance has decreased substantially. Previously, these processes took around 60 working days to complete; this has now been reduced to just 7 to 10 working days. As a result, the speed of BIDA’s services has increased by approximately 92 percent.

BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun said that simplifying, ensuring transparency, and accelerating services are essential to building an investment-friendly environment. With full digitalization, the verification and approval processes have become more dynamic and monitorable, enabling investors to receive faster, more reliable, and more effective services.

The online service was initially launched on a pilot basis in January 2024. Before the introduction of the digital system, foreign companies had to submit nearly 500 pages of documentation and wait for extended periods. The verification process, coordination with banks, and other legal and administrative approvals typically took between one and a half to two months.

Currently, the OSS portal is being used as a digital interface, making the verification and decision-making processes much easier. Investors can now submit applications online and track their progress in real time, significantly enhancing transparency.

Authorities said applications are currently being accepted through the bidaquickserv.org portal, and e-payment facilities are fully operational online. In April, four payment approvals were successfully completed through BIDA’s OSS platform.

At present, more than 142 investment services from 47 organizations are available through BIDA’s OSS platform in a single window, including 40 services provided directly by BIDA.

DBTech/BNO/MUM/OR