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{{Use dmy dates|date=November 2019}}
{{Use dmy dates|date=November 2019}}
{{Infobox government agency
''[[Bangladesh Investment Development Authority]]'' ({{lang-bn|বাংলাদেশ বিনিয়োগ উন্নয়ন কর্তৃপক্ষ}}; [[BIDA]])is Bangladesh government agency responsible for encouraging and facilitating private investment in Bangladesh.<ref>{{cite web|title=How to 'empower' economic growth|url=http://www.thedailystar.net/opinion/open-sky-0/how-empower-economic-growth-1385806|website=The Daily Star|accessdate=5 April 2017|language=en|date=4 April 2017}}</ref><ref>{{cite web|title=Empowering BIDA with more authority|url=http://www.thefinancialexpress-bd.com/2017/03/11/64073/Empowering-BIDA-with-more-authority|website=The Financial Express Online Version|accessdate=5 April 2017}}</ref> The Chairman of the authority is Mohammed Sirazul Islam.<ref>{{cite web|title=One-Stop Service within six months, says BIDA chief|url=http://www.thefinancialexpress-bd.com/2017/03/31/65662/One-Stop-Service-within-six-months,-says-BIDA-chief|website=The Financial Express Online Version|accessdate=5 April 2017}}</ref>
| name = Bangladesh Investment Development Authority (BIDA)
| logo = Bangladesh Investment Development Authority logo.jpeg
| formed = {{Start date and age|2016}}
| jurisdiction = [[Government of Bangladesh]]
| headquarters = Biniyog Bhaban, E-6/B Agargaon, Sher-e-Bangla Nagar Dhaka-1207
| website = {{URL|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.


==History==
==History==
[[File:Bangladesh Investment Development Authority (BIDA) 1.jpg|thumb|Headquarters|left]]
The Bangladesh Investment Development Authority was formed by the government of Bangladesh on 1 September 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=bida.gov.bd|publisher=Bangladesh Investment Development Authority|accessdate=5 April 2017|language=en}}</ref> It was formed through the Bangladesh Investment Development Authority Act.<ref>{{cite web|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/|website=Dhaka Tribune|accessdate=5 April 2017|date=8 March 2017}}</ref> The authority was formed through the merger of Board of Investment and Privatisation Commission.<ref>{{cite web|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|website=bdnews24.com|accessdate=5 April 2017}}</ref> The authority has a 17-member governing body with the Prime Minister of Bangladesh as the chairman and the Finance Minister as the vice chairman.<ref>{{cite web|title=New agency starts journey to boost investment|url=http://www.thedailystar.net/business/new-agency-starts-journey-boost-investment-1279147|website=The Daily Star|accessdate=5 April 2017|language=en|date=2 September 2016}}</ref>
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:

* Governing Board
* Executive Council
* Head office and divisional offices

== Services ==
{{unreferenced section|date=September 2023}}
* 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 ==
{{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.

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==
==References==
{{reflist}}{{Economy of Bangladesh}}{{authority control}}
{{reflist|2}}


[[Category:2016 establishments in Bangladesh]]
[[Category:2016 establishments in Bangladesh]]

Latest revision as of 20:33, 18 December 2024

Bangladesh Investment Development Authority (BIDA)
Agency overview
Formed2016; 9 years ago (2016)
JurisdictionGovernment of Bangladesh
HeadquartersBiniyog Bhaban, E-6/B Agargaon, Sher-e-Bangla Nagar Dhaka-1207
Websitebida.gov.bd

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

[edit]
Headquarters

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

[edit]

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

  • Governing Board
  • Executive Council
  • Head office and divisional offices

Services

[edit]
  • 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

[edit]

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

[edit]
  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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