DHAKA, June 11, 2020 (BSS) – Finance Minister AHM Mustafa Kamal today informed that the government is planning to streamline 150 business services of 35 government agencies and make them available in the One Stop Service (OSS) portal in the coming years.
“If we can rationally reduce the cost of starting business, it will be possible for us to foster rapid Industrialisation and generate employment. Besides, gaining a good position in improving our business environment plays a positive role in attracting foreign investment,” he said while placing the proposed national budget for the fiscal 2020-21 in parliament.
The finance minister said the government has set a goal to bring the position of Bangladesh in the Ease of Doing Business Index within two digits.
“Business Index has progressed to 168 in 2019 from 176 in 2018, which will help develop a positive image in the international arena about Bangladesh’s business environment,” he added.
He hoped that Bangladesh’s position in the Index will see further improvement in the following year.
To attain this objective, Mustafa Kamal said the government has taken various reform initiatives to improve business environment.
He noted that business environment in the country is improving following the amendment of the Companies Act, 1994.
“For example, various registration fees applicable for companies have been significantly reduced and there will be no fee for companies having capital of less than Tk. 50,000. To ensure quick clearance of goods and modernise the customs administration through trade facilitation, the government has formulated the new Customs Act,” he added.
Kamal said One Stop Service Rules 2020 has been issued to implement the OSS system so that investors can get different kinds of investment related services easily and quickly from other investment relate government offices.
“To operationalise this, the fully internet-based online One Stop Service Platform (OSS Platform) has been established. To improve the delivery of services and improve business environment, 18 business services of 4 government agencies, including Bangladesh Investment Development Authority, have been streamlined, and were made available in the OSS Platform for online use by businesses,” he added.