Bangladesh Investment Development Authority

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Bangladesh Investment Development Authority
বাংলাদেশ বিনিয়োগ উন্নয়ন কর্তৃপক্ষ
Logo of the BIDA
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BIDA Building in Sher-e-Bangla Nagar, Dhaka
Agency overview
Formed2016; 10 years ago (2016)
JurisdictionGovernment of Bangladesh
HeadquartersBiniyog Bhaban, E-6/B Agargaon, Sher-e-Bangla Nagar, Dhaka
Agency executive
Parent agencyChief Adviser's Office
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

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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

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

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

Services

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  • 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

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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

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  • Error creating thumbnail: File missing Media related to Lua error in Module:Commons_link at line 62: attempt to index field 'wikibase' (a nil value). at Wikimedia Commons

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