Five key business services to be available in one application by Sept: Bida chief
The services are name clearance, company registration, trade licence, TIN certificate, and bank account opening
The Bangladesh Investment Development Authority (Bida) has announced that five essential services required to start a business will be accessible through a single application by the end of September.
"We are working to process the first five essential services for starting a business in a single application by the end of next September," said Bida Executive Chairman Chowdhury Ashik Mahmud Bin Harun.
To make this integration possible, Bida signed memoranda of understanding (MoUs) with six organisations at its head office today.
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The services to be brought under one application are—name clearance, company registration, trade licence, TIN certificate, and bank account opening.
To incorporate these services into Bida's One Stop Service (OSS) platform, MoUs were signed with the National Board of Revenue, Registrar of Joint Stock Companies and Firms, Dhaka South City Corporation, Dhaka North City Corporation, Chattogram City Corporation, and Sonali Bank PLC.
Currently, these services require separate applications. "Work is underway to develop individual online forms that will allow investors to access all five services through a single submission," the Bida chief said.
He added that once the system is implemented, investors will receive faster and more streamlined services.
"In many countries, you can start a business within seven days. We have the same goal for Bangladesh. If we can include the first important services for starting a business on Bida's OSS platform and make it work well, then starting a business quickly will become possible here, too. It won't happen overnight, but with time and proper steps, we can achieve it," Ashik said.
"Right now, we are working to put five key services needed to start a business into one application on Bida's OSS platform. We aim to launch these five services online by September. After that, we will add more services little by little," he added.
Ashik highlighted that the initiative will mostly benefit small and medium entrepreneurs. "They will be able to get all the licenses and approvals they need by filling out just one form. They can also track their application online. This is a game-changing step that will make starting and running a business easier, faster, and more digital," he said.
Currently, Bida's OSS platform offers 134 services from 44 agencies.
