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DHAKA, Feb 01, 2024 (BSS) - Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Lokman Hossain Miah has laid emphasis on the government's substantial investment in Bangladesh's energy and other sectors to showcase Bangladesh as an investment-friendly destination.

He outlined the various measures undertaken to enhance the investment climate and underscored strengthening the existing legal framework in Bangladesh, which safeguards investors' investments and facilitates easy dividend withdrawal.

"To captivate the global market's attention towards Bangladesh, BIDA has launched the One Stop Service (OSS), an online platform that consolidates relevant government institutions to provide services to both domestic and foreign investors," he said.

The BIDA chief said this while meeting with the Board of Directors of the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI), led by President Shabbir Ahmed Khan, at BIDA Bhaban in the city, said a press release today.

The meeting was attended by BMCCI Senior Vice President Anwar Shahid, Vice President M Riyaaz Rasheed, Vice President Mahbubul Alam, Secretary General Md Motaher Hoshan Khan and Director M Mahmudur Rashid.

By serving as the exclusive point of contact and a singular interface for investment-related services between the government and investors, Lokman Hossain Miah said the One Stop Service (OSS) aims to augment investment facilitation services in Bangladesh.

"Investments registered with BIDA receive various incentives such as Tax Exemption on Capital Expenditure and Income Tax Exemption, particularly for enterprises focused on export," he added.

He informed that Bangladesh, once one of the 10 poorest countries in the world, is now the 41st largest economy in the world and getting enrolled in the list of LDCs.

"The country has established itself as a role model of development by achieving unparalleled success in all areas. The nation is now a development role model across the world," he added.

During the meeting, BMCCI President Shabbir A Khan emphasized the significant potentials for foreign investors, particularly those from Malaysia, in Bangladesh.

He highlighted the proactive role of the BMCCI in promoting investment and fostering bilateral trade over the past 24 years.

Khan called for support from BIDA as a responsible authority to attract foreign direct investment (FDI) and facilitate investment.