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Japanese companies doing business in Bangladesh are facing challenges during the coronavirus pandemic, including a lack of information and support from authorities, which may dent the flow of investment, according to investors and a recent survey. Besides, a culture of procedural delays at government offices and frequent policy changes discourages Japanese investors from
Bangladesh needs to amend tax rules, simplify business procedures and ensure facilities for international investors to attract foreign direct investment, said speakers yesterday. "It is crucial than ever to bring FDIs to tackle the Covid-19 fallout. For this reason, the government should relax rules and ensure competitive facilities," said Mohammad Abdur Razzaque, chairman of
ONE STOP SERVICE Star Business Report Star Business Report
Bangladesh Investment Development Authority (Bida) yesterday signed five memoranda of understanding (MoU) to deliver 17 more dedicated services on its website to fast facilitate investors with necessities to implement their projects.
The MoUs were inked with the Bangladesh Fire Service and Civil Defence, Directorate of Registration, Dhaka WASA, Bangladesh Telecommunications Company and Jalalabad Gas Transmission and Distribution System at the Bida auditorium in Dhaka.
Launched on February 24 in 2019, Bida s One Stop Service (OSS) web portal had been providing 41 information-related services until now.
The dedicated services are all part of ongoing reforms for Bangladesh to rise to a double-digit spot from the current three-digit one in the World Bank s ease of doing business index.
Bida beefs up its one-stop service
Star Business Report
Star Business Report
Availing an environment clearance certificate from now will take just a third of the time previously required, thanks to the One-Stop Service (OSS) portal of the Bangladesh Investment Development Authority (Bida).
Previously, it took investors some 150 days to get the nod from the Department of Environment.
Now, it will be available anywhere between a week and 45 working days for new or running industries based on the trade category and submission of required documents.
Applicants will be able to make payments online and witness in real time the application s progress with the service provider and get feedback on any official unmet requirement.