Bangladesh Investment Development Authority: Difference between revisions

Content deleted Content added

Inline

Revision as of 10:32, 19 September 2021

Bangladesh Investment Development Authority (BIDA) (Template:Lang-bn) is the apex Investment Promotion Agency (IPA) of the Government of the People’s Republic of Bangladesh. 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.^[1]^[2] The Head Office of BIDA is located in Dhaka and its divisional offices are in Chattogram, Rajshahi, Khulna, Sylhet and Barishal.

History

BIDA was formed on September 1, 2016^[3] through the enactment of the Bangladesh Investment Development Authority Act 2016, which merged the then Board of Investment (BOI) and then Privatization Commission to establish the new authority.

Organization

The Honorable Prime Minister of the Government of the People’s Republic of Bangladesh is the Chairman of the Governing Board of BIDA. The Honorable Finance Minister is the Vice-Chairman. The Governing Board supervises the Executive Council, which is headed by the Executive Chairman (senior secretary) and made up of 6 (six) Executive Members.

Mohammad Sirazul Islam has been the Executive Chairman of the authority^[4] since September 4, 2019. He has been appointed to the position for three years.

BIDA has 6 (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. BIDA Secretary heads the administrative wing.

Services

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
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. There are currently 51 services of 16 agencies available on this single-window platform.

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.

References

^ "How to 'empower' economic growth". The Daily Star. 4 April 2017. Retrieved 5 April 2017.
^ "Empowering BIDA with more authority". The Financial Express. Dhaka. Retrieved 5 April 2017.
^ "BIDA Functions (BIDA)". Bangladesh Investment Development Authority. Archived from the original on 9 March 2017. Retrieved 5 April 2017.
^ "One-Stop Service within six months, says BIDA chief". The Financial Express. Dhaka. Retrieved 5 April 2017.

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

[1] "How to 'empower' economic growth". The Daily Star. 4 April 2017. Retrieved 5 April 2017.

[2] "Empowering BIDA with more authority". The Financial Express. Dhaka. Retrieved 5 April 2017.

[3] "BIDA Functions (BIDA)". Bangladesh Investment Development Authority. Archived from the original on 9 March 2017. Retrieved 5 April 2017.

[4] "One-Stop Service within six months, says BIDA chief". The Financial Express. Dhaka. Retrieved 5 April 2017.

[1]

[2]

[3]

[4]

@@ Line 7: / Line 7: @@
 == Organization ==
-The Honorable [[Prime Minister of Bangladesh|Prime Minister]] of the [[Cabinet of Bangladesh|Government of the People’s Republic of Bangladesh]] is the Chairman of the Governing Board of BIDA. The Honorable Finance Minister is the Vice-Chairman. The Governing Board supervises the Executive Council, which is headed by the Executive Chairman (senior secretary) and made up of 6 (six) Executive Members and the BIDA Secretary.
+The Honorable [[Prime Minister of Bangladesh|Prime Minister]] of the [[Cabinet of Bangladesh|Government of the People’s Republic of Bangladesh]] is the Chairman of the Governing Board of BIDA. The Honorable Finance Minister is the Vice-Chairman. The Governing Board supervises the Executive Council, which is headed by the Executive Chairman (senior secretary) and made up of 6 (six) Executive Members.
 [http://bida.gov.bd/?page_id=8494 Mohammad Sirazul Islam] 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.