BIDA mulls ‘i-governance’ framework for improving business climate in Bangladesh

The Bangladesh Investment Development Authority (BIDA) will 'very soon' develop an “i-governance” framework for improving trade and investment climate in Bangladesh.

Executive Director Kazi M Aminul Islam spoke about the BIDA's next move at a view-exchange meeting on Tuesday with a Bangladeshi delegation that recently visited New Zealand and Singapore - the two top-ranking countries from the World Bank’s ease of doing the business index.

Mohammad Shahidul Haque, senior secretary of the legislative and parliament affairs division of the law ministry, led the delegation comprising World Bank Group’s Senior Economist Masroor Reaz, private sector specialist Mia Rahmat Ali and Asif Ibrahim, advisor of the Business Initiative Leading Development (BUILD).

They recently visited the countries to learn the global best practices.

The senior secretary said it takes only 35 minutes to complete all procedures for registering a company online in New Zealand.

“That’s why a country of 4.5 million people, New Zealand has 570,000 public limited companies,” he said, adding that they had entered into the era of i-governance from e-governance.

I-governance means 'integrated governance' in which better inter-ministerial and inter-agency coordination can be ensured.

 “We have to introduce this system for improving our business environment,” he said.

BIDA, earlier in January, announced major reforms for several sectors in its attempt to woo both local and international investments by improving its ranking in the World Bank’s ‘ease of doing’ business index.

It set an ambitious goal to take Bangladesh, currently in the 176th spot, to within 100 in the index in next five years.