Bangladesh Investment Development Authority: Difference between revisions

Bangladesh Investment Development Authority (BIDA)
Agency overview
Formed	2016; 9 years ago
Jurisdiction	Government of Bangladesh
Headquarters	Biniyog Bhaban, E-6/B Agargaon, Sher-e-Bangla Nagar Dhaka-1207
Website	bida.gov.bd

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Latest revision as of 20:33, 18 December 2024

The Bangladesh Investment Development Authority (BIDA) (Bengali: 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:

Governing Board
Executive Council
Head office and divisional offices

Services

Pre-investment information and counseling service
Investor welcome service through speedier immigration
Registration/approval of foreign, joint-venture and local projects
Registration/approval of branch/liaison/representative offices
Work permit approval for the foreign nationals
Approval for remittance of royalty, technical know-how and technical assistance fees
Facilitating import of capital machinery & raw materials
Approval of foreign loan suppliers’ credit, PAYE scheme etc.
Facilitation for utility connections
Assistance in obtaining industrial plots

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.

References

^ "BIDA Functions (BIDA)". boi.gov.bd. Bangladesh Investment Development Authority. Retrieved 5 April 2017.
^ "Call to ensure One-Stop Services to draw investment". Dhaka Tribune. 8 March 2017. Retrieved 5 April 2017.
^ "Commerce minister moves to help BIDA make Bangladesh investment-friendly". bdnews24.com. Retrieved 5 April 2017.

This article about a Bangladeshi organisation is a stub. You can help Wikipedia by expanding it.

[1] "BIDA Functions (BIDA)". boi.gov.bd. Bangladesh Investment Development Authority. Retrieved 5 April 2017.

[2] "Call to ensure One-Stop Services to draw investment". Dhaka Tribune. 8 March 2017. Retrieved 5 April 2017.

[3] "Commerce minister moves to help BIDA make Bangladesh investment-friendly". bdnews24.com. Retrieved 5 April 2017.

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[2]

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@@ Line 1: / Line 1: @@
+{{Use dmy dates|date=November 2019}}
 {{Infobox government agency
 | name            = Bangladesh Investment Development Authority (BIDA)
@@ Line 4: / Line 5: @@
 | formed          = {{Start date and age|2016}}
 | jurisdiction    = [[Government of Bangladesh]]
-| headquarters    = Bangladesh Investment Development Authority (BIDA) Prime Minister’s Office E-6/B Agargaon, Sher-e-Bangla Nagar Dhaka-1207
+| headquarters    = Biniyog Bhaban, E-6/B Agargaon, Sher-e-Bangla Nagar Dhaka-1207
+| website         = {{URL|bida.gov.bd}}
-| chief1_name     = [[Sheikh Hasina]] ([[Prime Minister of Bangladesh]])
-| chief1_position = Chairman of the Governing Board
-| chief2_name     = Lokman Hossain Miah
-| chief2_position = Executive Chairman
-| parent_department = [[Prime Minister's Office (Bangladesh)|Prime Minister's Office]]
-| website         = http://bida.gov.bd
 }}
+The '''Bangladesh Investment Development Authority''' ('''BIDA''') ({{langx|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.
-{{Use dmy dates|date=November 2019}}
-The '''Bangladesh Investment Development Authority''' ('''BIDA''') ({{lang-bn|বাংলাদেশ বিনিয়োগ উন্নয়ন কর্তৃপক্ষ}}) is the apex investment promotion agency (IPA) of [[Bangladesh]] which is responsible for helping [[foreign direct investment|foreign investors]] to set up investments in the country. BIDA promotes and facilitates private investment and advocates business-friendly policies. BIDA provides regulatory services including registration, approvals and recommendations. BIDA is supervised by the Prime Minister's Office.<ref>{{cite news |title=How to 'empower' economic growth|url=http://www.thedailystar.net/opinion/open-sky-0/how-empower-economic-growth-1385806|work=The Daily Star|access-date=5 April 2017|language=en|date=4 April 2017}}</ref><ref>{{cite news |title=Empowering BIDA with more authority|url=http://www.thefinancialexpress-bd.com/2017/03/11/64073/Empowering-BIDA-with-more-authority|work=The Financial Express |location=Dhaka |access-date=5 April 2017}}</ref> The head office of BIDA is located in [[Dhaka]] and its divisional offices are in [[Chittagong|Chattogram]], [[Rajshahi]], [[Khulna]], [[Sylhet]] and [[Barishal]].
 ==History==
+[[File:Bangladesh Investment Development Authority (BIDA) 1.jpg|thumb|Headquarters|left]]
-BIDA was formed on September 1, 2016<ref>{{cite web|title=BIDA Functions (BIDA)|url=http://www.bida.portal.gov.bd/site/page/fbe1aaaf-bfe8-4cac-9e5f-eee8f91998a7/BIDA-Functions|website=Bangladesh Investment Development Authority|access-date=5 April 2017|language=en|archive-url=https://web.archive.org/web/20170309122323/http://bida.portal.gov.bd/site/page/fbe1aaaf-bfe8-4cac-9e5f-eee8f91998a7/BIDA-Functions|archive-date=9 March 2017|url-status=dead}}</ref> through the enactment of the [http://bdlaws.minlaw.gov.bd/act-1194/section-45336.html?hl=1 Bangladesh Investment Development Authority Act 2016], which merged the then Board of Investment (BOI) and then Privatization Commission to establish the new authority.
+BIDA was formed on 1 September 2016<ref>{{cite web |title=BIDA Functions  (BIDA) |url=http://www.boi.gov.bd/site/page/fbe1aaaf-bfe8-4cac-9e5f-eee8f91998a7/BIDA-Functions |accessdate=5 April 2017 |website=boi.gov.bd |publisher=Bangladesh Investment Development Authority |language=en}}</ref>  through the Bangladesh Investment Development Authority Act <ref>{{cite news |date=8 March 2017 |title=Call to ensure One-Stop Services to draw investment |url=http://www.dhakatribune.com/business/2017/03/08/call-ensure-one-stop-services-draw-investment/ |accessdate=5 April 2017 |work=[[Dhaka Tribune]]}}</ref> that merged the erstwhile Board of Investment and Privatization Commission.<ref>{{cite news |title=Commerce minister moves to help BIDA make Bangladesh investment-friendly |url=http://bdnews24.com/business/2017/03/31/commerce-minister-moves-to-help-bida-make-bangladesh-investment-friendly |accessdate=5 April 2017 |work=[[bdnews24.com]]}}</ref>
 == Organization ==
+The BIDA management structure is composed of three tiers, which are:
-The [[Prime Minister of Bangladesh|Prime Minister]] is the chair of the governing board of BIDA. The Finance Minister is the vice-chair. The governing board supervises the executive council, which is headed by the executive chairman (senior secretary) and made up of 6 (six) executive members.
+* Governing Board
-[[Lokman Hossain Miah]] has been the [[chairman|Executive chairman]] of the authority<ref>{{cite news|title=One-Stop Service within six months, says BIDA chief|work=The Financial Express|location=Dhaka|url=http://www.thefinancialexpress-bd.com/2017/03/31/65662/One-Stop-Service-within-six-months,-says-BIDA-chief|access-date=5 April 2017}}</ref> since September 4, 2019. He has been appointed to the position for three years.
+* Executive Council
+* Head office and divisional offices
-BIDA has six wings headed by executive members (additional secretary), which are: Strategic Investment, Marketing and Communication, International Investment Promotion, Local Investment Promotion, Investment Environment Services, Investment Ecosystem. The BIDA Secretary heads the administrative wing.
 == Services ==
+{{unreferenced section|date=September 2023}}
-BIDA is the first stop for investors exploring investment opportunities in Bangladesh. BIDA conducts active promotion of diversified investments in key strategic sectors and facilitates the entry, operation and growth of investment projects. BIDA also provides regulatory, information and aftercare services.
-Following are the services offered by BIDA:
 * Pre-investment information and counseling service
 * Investor welcome service through speedier immigration
@@ Line 42: / Line 36: @@
 == Online One Stop Service (OSS) portal ==
+{{unreferenced section|date=September 2023}}
-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. There are currently 51 services of 16 agencies available on this single-window platform.
+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, is providing technical assistance for the effective development of the OSS portal.
+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.
 ==References==
+{{reflist}}{{Economy of Bangladesh}}{{authority control}}
-{{reflist}}
-{{authority control}}
 [[Category:2016 establishments in Bangladesh]]

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