The government has moved to enact a new law to offer foreign and local investors with one-stop services.

Entrepreneurs and investors with registered companies will get 16 types of services from the one-stop service centre within a stipulated time, said Mohammad Shafiul Alam, cabinet secretary.

Alam spoke while briefing the media after a cabinet meeting with Prime Minister Sheikh Hasina in the chair yesterday. The meeting approved the 'One-stop Service Act, 2017'. The services are issuance of trade licence, land registration and mutation, environmental clearance, construction permit, connections of power, gas and water, telephone and internet, explosive licence and boiler certificate.

Four organisations—Bangladesh Investment Development Authority, Bangladesh Economic Zones Authority, Bangladesh Export Processing Zones Authority and Bangladesh Hi-Tech Park Authority—would act as the central one-stop service authority in their respective areas.

The cabinet secretary said the act has been framed by making the procedure of doing business easier to encourage local and foreign investors.

The one-stop service would be delivered to both local and foreign investors and the service would be given centrally and regionally, he added.

Besides, the draft law also mentioned efforts to make the visa system and immigration process for foreigners easier.

"Failure in giving a service within the stipulated timeframe would be considered as misconduct under the law and action would be taken against the responsible person as per the rules," said Alam.

He also said the law was expected to enhance Bangladesh's position in the 'Doing Business' ranking published by the World Bank. Currently, the country ranked 176th out of 188 economies. Bangladesh has set a target to bring it within the top 100 countries in the next five years.