Dhaka, Bangladesh (BBN)– Bangladesh’s Board of Investment (BoI) has introduced online registration system aiming to facilitate investors for getting their proposals approval.

Industries Minister Dilip Barua inaugurated the web-based application at a ceremony at the BoI office in the capital Dhaka on Wednesday.

Under the automated system, the prospective investors will be able to complete registration within just a day compared to six days in the existing manual system.

Currently, the investors also need to go through 13 stages to get approval from the BoI, but in the new system they will face only three steps, according to officials.

The online platform will enable the investors to complete the entire registration process, including submitting an application, attaching documents, tracking status, providing interactive feedback and seeking approval, without visiting the BoI office or using an intermediary.

Syed A Samad, executive chairman of BoI, said they have introduced the online system to improve the delivery system.

BBN/SI/AD-23Dec10-10:36 am (BST)