DHAKA, Oct 31, 2022 (BSS) - Land Minister Saifuzzaman Chowdhury today said various barriers in setting up industries, especially the complexity of land management, will wane down due to the one stop service (OSS) and it will be easier to take initiatives to set up basic industries.

He was addressing the inauguration of five new services through online OSS portal at the conference room of Bangladesh Investment Development Authority (BIDA) head office at Agargaon in the city.

Local Government Division Secretary Mohammad Mezbah Uddin Chowdhury, Land Secretary Mostafizur Rahman, Security Services Division Secretary Md Abdullah Al Masud Chowdhury and Housing and Public Works Secretary Kazi Wasi Uddin attended the opening ceremony as special guests.

BIDA Executive Chairman Lokman Hossain Mia chaired it.

The land minister said through the successful implementation of the one-stop service, Bangladesh has gained momentum in implementation of the election manifesto announced by Prime Minister Sheikh Hasina on industrial development.

"We have already had arrangements to do the mutation of all the existing important industrial establishments, limited companies, export-oriented industrial establishments and companies in Chittagong, Dhaka, Narayanganj and Gazipur districts in 7 days," he mentioned.

He said this service is available through 'Fast Track' and will be further expanded if required.

Saifuzzaman said the cost of doing business is coming down.
"One Stop Service has brought a paradigm shift in creating an investment-friendly environment in Bangladesh, as all the investment support services are available from the single window," he said.

In addition, reduction in the scope of corruption has encouraged investment, he said, adding that land service is now easier and investment friendly than ever.

"The more the investment services are improved, the more foreign direct investment, which is very important for our economy, will come into the country. No country can develop without foreign direct investment. So we have to make united efforts to provide investment services," he said.