Bangladesh Investment Development Authority Explained

Bangladesh Investment Development Authority (BIDA)
Jurisdiction:Government of Bangladesh
Headquarters:Biniyog Bhaban, E-6/B Agargaon, Sher-e-Bangla Nagar Dhaka-1207

The Bangladesh Investment Development Authority (BIDA) (bn|বাংলাদেশ বিনিয়োগ উন্নয়ন কর্তৃপক্ষ) is the apex investment promotion agency (IPA) of Bangladesh under the Chief Adviser's Office. BIDA promotes and facilitates private investment and advocates business-friendly policies. BIDA also provides regulatory services including registration, approvals and recommendations.

History

BIDA was formed on 1 September 2016[1] through the Bangladesh Investment Development Authority Act [2] that merged the erstwhile Board of Investment and Privatization Commission.[3]

Organization

The BIDA management structure is composed of three tiers, which are:

Services

Online One Stop Service (OSS) portal

BIDA hosts the country's first inter-operable online One Stop Service (OSS) Portal. BIDA established this platform by driving the digitization and integration of the investor services of various ministries, departments and agencies in Bangladesh.

BIDA is working to integrate over 150 services of over 40 separate investor service providers. The International Finance Corporation, a development partner of BIDA, has provided technical assistance for the effective development of the OSS portal.

Notes and References

  1. Web site: BIDA Fuctions (BIDA) . 5 April 2017 . boi.gov.bd . Bangladesh Investment Development Authority . en.
  2. News: 8 March 2017 . Call to ensure One-Stop Services to draw investment . 5 April 2017 . Dhaka Tribune.
  3. News: Commerce minister moves to help BIDA make Bangladesh investment-friendly . 5 April 2017 . bdnews24.com.