Getting trade licences in Dhaka South City Corporation has become hassle-free and fast as the documents can be obtained through the one-stop-service portal of Bangladesh Investment Development Authority (BIDA).
The service was launched on Tuesday through a programme at the BIDA office at Agargaon in the capital.
"Businesspeople will be able to get the licence within a day, and they will not have to go to the authorities concerned," said Dhaka South Mayor Sheikh Fazle Noor Taposh, while addressing the event as chief guest.
This move is part of improving the country's ease of doing business, narrowing the scope of corruption, he said, adding that the renewal of trade licences would also be brought under the mechanism within a month.
"Earlier, one had to undergo harassment to get a licence. So, we were getting less applications. Now as the process becomes smooth and fast, I hope that the number of applications will rise."
The service will also be transparent.
At present, the payment can only be done through Sonali Bank. The mayor suggested incorporating more banks in the payment method.
Executive Chairman of BIDA Md Sirajul Islam said, "We have targets to become a higher-middle income country by 2031 and a developed country by 2041."
Reaching the goals are dependent on domestic and foreign investments, he said, adding that there was no alternative to improving services to attract more foreign investments.
Currently, 42 kinds of services are provided through BIDA's one-stop-service portal, working in collaboration with 12 organisations, Sirajul said, expressing the hope that 154 services would be available by the end of this year.