Govt strengthening online one-stop investment services: Muktadir
"The government is working to make the licensing and approval process easier, faster and more integrated so that investors do not have to move from one office to another," he said.
Commerce Minister Khandakar Abdul Muktadir yesterday said that the government is strengthening efforts to introduce a centralised online one-stop investment service to create a more business-friendly environment by simplifying and integrating licensing and approval procedures.
"The government is working to make the licensing and approval process easier, faster and more integrated so that investors do not have to move from one office to another," he said.
The minister made the remarks during a courtesy meeting with a delegation of the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI), led by its President Tareq Rafi Bhuiyan, at the Ministry of Commerce conference room in the capital yesterday morning.
Keep updated, follow The Business Standard's Google news channel
Commerce Secretary Md Ataur Rahman Khan was also present at the meeting.
Highlighting ongoing reforms to improve the investment climate, Muktadir said the government aims to establish a digital platform through which investors can obtain all necessary approvals and services efficiently.
Referring to factory establishment procedures, he said completing all approvals within 15 days is not always feasible because the process requires inspections related to safety, risk management, fire protection and environmental compliance.
To prevent delays in investment activities, he said, the government plans to introduce provisional licences that will allow investors to begin preliminary operations while completing the remaining formalities.
The minister said a roadmap has already been prepared to shorten approval timelines, with particular attention being given to sector-specific licensing requirements.
"Licensing needs vary significantly from sector to sector. The requirements for a power plant are different from those for a textile factory," he noted.
He also announced that the Bangladesh Investment Development Authority (BIDA) will coordinate factory inspections under a unified mechanism.
Through this system, BIDA will schedule inspection dates and bring all relevant agencies together for a single joint visit, reducing administrative burdens on investors, he added.
On sustainable transportation, Muktadir said the government is seeking to reduce dependence on conventional fuels by promoting electric and hybrid vehicles.
While the government remains positive about the transition to electric vehicles, he said Bangladesh is not yet fully prepared for a complete shift to EVs.
As an interim measure, he said, the government is prioritising the import and use of plug-in hybrid vehicles to strengthen economic and energy security.
During the meeting, the JBCCI delegation stressed the importance of expanding Japanese investment and trade in Bangladesh and encouraged greater adoption of sustainable technologies.
The delegation also welcomed the proposed Bangladesh-Japan Free Trade Agreement, saying it would further enhance bilateral trade and investment cooperation between the two countries.
Reaffirming the government's commitment to Japanese investors, the minister said, "We want to create an investment environment where an investor can access all necessary services with a single click on an online platform."
