Bida OSS portal’s poor show frustrates executive chairman

Bangladesh Investment Development Authority (Bida) Executive Chairman Md Sirazul Islam has expressed frustration over not being able to provide desired services to investors through its online One Stop Service (OSS) portal since its inception in February 2019.

"It has been almost two and a half years now. We have been able to connect 51 services of only 16 organisations with the platform," he said at a function at Bida Bhaban in Agargaon on Sunday.

"What is even more frustrating is that not all of the 16 companies are able to provide online services. Only nine companies are available on the OSS platform."

At the function, Bida signed a memorandum of understanding (MoUs) with five service providers which will provide nine services through the OSS portal. Bida has so far signed MoUs with 35 service providers.

Of the five organisations, Chattogram Chamber of Commerce and Industry (CCCI) and Foreign Investors' Chamber of Commerce & Industry Bangladesh (FICCI) will provide the investors with membership certificate issuance, membership certificate renewal and the certificate of origin.

Three banks – Eastern Bank, Standard Chartered and Islami Bank – will provide online bank account opening services to the investors.

"It is not just a matter of signing MoUs. Rather every organisation needs to implement its work quickly," said the Bida executive chairman.

"At the same time, investors must have the mentality to take investment services using digital technology. Because in the digital world, there is no alternative to providing digital services."

He said a meeting would be held soon to explain why the service providers associated with Bida could not provide their services online.

Sirazul Islam said a high-level committee headed by the finance minister has been set up to oversee the speedy delivery of services to investors. The committee will meet soon.

Bida Executive Member Mohsina Yasmin presided over the function and Director (One-Stop Service and Regulatory Reform at Bida) Jiban Krishna Saha Roy presented the OSS updates.

Jiban Krishna Saha Roy said so far OSS has provided about 25,000 services to investors through online.

Bida Director General Nikhil Kumar Das, President of FICCI Rupali Chowdhury, Deputy Managing Director of Eastern Bank Ahmed Shaheen, Deputy Managing Director of Islami Bank Bangladesh Lee JQM Habibullah and Standard Chartered Bank Bangladesh Chief Executive Officer Naser Ezaz Bijoy were present on the occasion.

CCCI President Mahbubul Alam was virtually connected to the programme.