DHAKA, Nov 25, 2024 (BSS) - In a significant initiative to enhance and simplify investor services, the Bangladesh Investment Development Authority (BIDA) today signed separate Memorandums of Understanding (MoUs) with Sylhet City Corporation, Rangpur City Corporation, Karnaphuli Gas Distribution Company Limited and Southeast Bank PLC.

These agreements will introduce seven new services to BIDA's Online One-Stop Service (OSS) platform, aiming to increase efficiency, transparency, and ease of access for investors.

Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of BIDA and BEZA, attended the event as the chief guest at BIDA conference room in the city while Dr Khandoker Azizul Islam, Executive Member of BIDA, presided over it.

The MoUs were signed by Dr Khandoker Azizul Islam, Executive Member of BIDA, with Southeast Bank PLC, and Jibon Krishna Saha Roy, Director General of BIDA, with Sylhet City Corporation, Rangpur City Corporation, and Karnaphuli Gas Distribution Company Limited.

The new additions bring the total number of services offered through the OSS platform to 133, provided by 48 institutions, including 23 services from BIDA itself. Since its inception in 2019, the OSS platform has processed over 170,000 applications with a 99 percent resolution rate.

However, only 5,000 applications have been related to services provided by other agencies, indicating the need for further adoption and integration of the platform.

Speaking at the event, Chowdhury Ashik Mahmud Bin Harun emphasized the importance of improving service delivery for investors.

He stated, "Ensuring quality service for investors remains our top priority. Through the OSS platform, we aim to make the service delivery process more accessible and efficient. Our long-term plan includes establishing a Single Entry Point, enabling investors to access services from all IPAs using a single ID."

He said this will eliminate redundancy, improve monitoring, and ensure seamless service delivery.

He urged investors to actively utilize the BIDA OSS platform, which will not only save time but also enhance transparency across all partner institutions.

Dr Khandoker Azizul Islam further elaborated on the impact of the new MoUs.

He noted, "Today's signing with four institutions marks another milestone, as it introduces seven new services to the OSS platform. Raising awareness about OSS among investors is crucial for its success. This initiative aims to save both time and resources while ensuring streamlined services for investors."

The event began with a welcome address by Abdur Rahim, Director of BIDA, followed by a detailed presentation on OSS updates by Jibon Krishna Saha Roy, Director General of BIDA.

Representatives from the respective organizations also shared their insights at the event. These included Noor Uddin Md. Sadek Hossain, Managing Director of Southeast Bank PLC; Manjurul Haque, Company Secretary of Karnaphuli Gas Distribution Company Limited; Rezai Rafi Sarkar, CEO of Sylhet City Corporation; and Joyshree Rani Roy, representing Rangpur City Corporation.

The program, moderated by Abu Muhammad Nurul Hayat Tutul, was attended by senior officials from various public and private organizations, along with representatives from print and electronic media.

This initiative is expected to play a pivotal role in improving the investment environment in Bangladesh by making services faster, more transparent and easier to access.