Executive Chairman, BIDA Lokman Hossain Miah on Tuesday said that One Stop Service (OSS) be fully functional by the next three months.
Mentioning that the BIDA is committed to maintain a good economic relation with all, the BIDA Executive Chairman said that business community is the best ambassador of the country to attract foreign investments.
BIDA Executive Chairman made the remarks while exchanging views with the Board of Directors of Dhaka Chamber of Commerce & Industry (DCCI) led by its President Barrister Md. Sameer Sattar as they called on Executive Chairman of Bangladesh Investment Development Authority (BIDA).
He further said due to Russia Ukraine war the global economic is facing some challenges, but however, Bangladesh’s economy is still in good shape. Moreover, having a strong demographic dividend, enthusiastic business community, and business friendly environment Bangladesh will be able to progress ahead in the days to come.
He later emphasized on good governance and transparency to ensure better accountability in the government sector.
During the discussion, Barrister Md. Sameer Sattar, President, DCCI urged that both private and public sector should work together for continuous improvement of pro-investment climate in Bangladesh to enhance both local and foreign investment. He also underscored the need of a time-bound national roadmap for attracting FDI in Bangladesh, with a view to elevating the FDI to GDP ratio to 5% which is currently 0.80%.
Sattar also said, to attract FDI, a study should be undertaken to see if the OSS is operating in afunctional and effective manner conducive to the investors.
He also urged to bring all the oss portals under one national single window called National Single OSS.
Moreover, Barrister Sattar emphasized on timely institutional and legal reforms especially setting up a separate commercial court to deal with contract enforcement cases, reform of Arbitration Act and to modernize the insolvency laws in line with other developed jurisdiction. If done so promptly, it will further ease the foreign investment climate in Bangladesh.
DCCI Senior Vice President SM Golam Faruk Alamgir (Arman), Vice President Md. Junaed Ibna Ali and members of the Board of Directors of DCCI were also present in the meeting.