BIDA signs MoU with four institutions to expand OSS with 7 new services

In a significant initiative to enhance and simplify investor services, the Bangladesh Investment Development Authority (BIDA) has signed separate memorandums of understanding (MoUs) with four institutions to introduce seven new services to its online one-stop service (OSS) platform.

The MoUs were signed with Sylhet City Corporation, Rangpur City Corporation, Karnaphuli Gas Distribution Company Limited, and Southeast Bank PLC, reads a press release. 

According to the release, these agreements aim to increase efficiency, transparency, and ease of access for investors. 

The event was attended by Chowdhury Ashik Mahmud Bin Harun, chairman of BIDA and BEZA, as the chief guest, and was presided over by Dr Khandoker Azizul Islam, executive member of BIDA. 

The new additions bring the total number of services offered through the OSS platform to 133, provided by 48 institutions, including 23 services from BIDA itself. 

Since its inception in 2019, the OSS platform has processed over 170,000 applications with a 99% resolution rate. However, only 5,000 applications have been related to services provided by other agencies, indicating the need for further adoption and integration of the platform. 

Speaking at the event, BIDA Chairman Ashik Mahmud emphasised the importance of improving service delivery for investors. 

He said, "Ensuring quality service for investors remains our top priority. Through the OSS platform, we aim to make the service delivery process more accessible and efficient."

Dr Khandoker Azizul Islam further elaborated on the impact of the new MoUs. 

He noted, "Today's signing with four institutions marks another milestone, as it introduces seven new services to the OSS platform. Raising awareness about OSS among investors is crucial for its success. This initiative aims to save both time and resources while ensuring streamlined services for investors."