Cut red tape, speed approvals to draw investment: Commerce minister
Commerce minister Khandakar Abdul Muktadir has urged cutting bureaucratic red tape and speeding approvals to attract investment, while inaugurating the Dhaka Industrial Packaging Expo 2026 at the Bangladesh-China Friendship Convention Centre in the capital.
He said reducing logistics costs, improving port efficiency and unlocking idle state-owned assets to boost Bangladesh's global competitiveness. "We cannot move forward by dwelling on old problems. The time has come for pragmatic reforms and swift implementation of commitments," he said.
The minister said entrepreneurs currently need 25 to 26 approvals and licences to start a business, making the process cumbersome. The government is working to streamline registration, and enterprises completing it through BIDA or relevant authorities will receive 'provisional clearance' to begin operations without delay.
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Muktadir noted Bangladesh's logistics cost is about 16 percent of GDP, higher than the global average of around 10 percent. Inefficiencies in port management, he said, are raising cargo costs and eroding competitiveness. To address this, internationally recognised foreign operators are being brought in, with a Danish company already running a container terminal.
He said Bangladesh's transition from Least Developed Country status leaves no room for stop-gap measures, stressing consistent and sustainable reforms.
On state-owned enterprises, he said dozens of large units remain idle or loss-making, creating a subsidy burden. Around 40 fall under the Ministry of Industries and another 50 under textiles and jute. The government is opening these to private investment to use land and assets productively.
"Our goal is to turn these dormant industrial units into hubs of investment and employment within the next one to two years," he said, adding some will be modernised, while others will host new or export-oriented industries. Each sugar mill, he noted, sits on 1,000 bighas of land or more, offering scope for industrial parks.
Urging ambition in the packaging sector, he said, "You cannot reach a big destination with a small vision." He reiterated support for industry expansion, job creation and export growth.
Export Promotion Bureau Vice Chairman Mohammad Hasan Arif also spoke. Entrepreneurs, business leaders, and domestic and foreign stakeholders attended.
