The Bangladesh Investment Development Authority (Bida) is set to launch the Bangladesh Business Portal, a digital platform designed to centralize all trade and investment-related services into a single, easy-to-use interface. This initiative aims to simplify and streamline the investment process by integrating existing government systems, offering a one-stop solution for investors.
The decision to accelerate the digital transformation of services was made during the 3rd meeting of Bida’s Governing Board, held on 13th April and chaired by Chief Adviser Muhammad Yunus. The meeting outlined that services currently available both online and offline should be fully digitized within one month, while manual services will have three months to transition to digital formats. A directive from the Chief Adviser’s Office is expected soon to enforce these timelines.
Bida’s Executive Chairman, Chowdhury Ashik Mahmud Bin Harun, highlighted the current challenges with the fragmented systems. Many services that claim to be digital still require physical visits to government offices, causing frustration for investors. “The main complaints from investors are about inconsistent digital services and the need to visit multiple offices or websites for different services,” Mahmud noted. The new portal aims to solve this problem by providing a single login and guiding users seamlessly to the appropriate services.
The current process, which involves multiple visits to different agencies for a trade license, has proven cumbersome, especially for foreign investors unfamiliar with local procedures. The new platform will consolidate these services, enabling users to access all necessary services from one place.
Nahian Rahman Rochi, Bida’s Head of Business Development, assured that efforts to rapidly develop the platform are underway. He cited examples from countries such as Singapore, India, and Vietnam, where similar single-window systems for investment facilitation have significantly streamlined the process.
The One Stop Service Act of 2018 mandates that agencies like Bida, Beza, Bepza, the Bangladesh Hi-Tech Park Authority, and the Bangladesh Small and Cottage Industries Corporation offer integrated services. However, these agencies currently operate independently, creating confusion for users about where to seek specific assistance. The new portal is designed to eliminate this issue by providing a unified access point.
Bida launched its own OSS platform in 2019, offering 134 services from 44 agencies, but many key services from other government bodies remain unavailable. To improve the system, the Finance Ministry has proposed integrating the Bangladesh Business Portal with the National Board of Revenue’s National Single Window (NSW) system.
Additionally, Bida has proposed that representatives from key ministries, including the NBR, Department of Environment, and Bangladesh Bank, be stationed at Bida’s office to provide real-time assistance and guidance to investors, particularly those requiring frequent interactions with multiple agencies.
This initiative marks a significant step in making Bangladesh’s investment climate more efficient and investor-friendly, aligning with global best practices and easing the complexities faced by local and foreign entrepreneurs.
