All exporters to get bonded warehouse facilities: Amir Khosru

The government plans to extend bonded warehouse facilities to all export-oriented industries, ending a long-standing policy that primarily benefited the readymade garment sector, said Finance and Planning Minister Amir Khosru Mahmud Chowdhury.

The move is part of a broader deregulation drive aimed at boosting exports, reducing business costs and encouraging the growth of non-traditional sectors, he said at a pre-budget roundtable organised by the Dhaka Forum Initiative (DFI) yesterday (3 June).

"Anybody exporting anything from Bangladesh will be given permission for bonded warehouses. It's not just garments anymore," Amir Khosru said.

The minister said exporters across sectors, including gold jewellery and other high-value manufactured goods, will be eligible for bonded warehouse facilities and back-to-back letter of credit (LC) support.

According to the minister, the government intends to make the scheme more accessible while reducing administrative burdens and opportunities for harassment.

He said businesses will no longer be required to renew bonded warehouse licences annually. Instead, audits will be conducted once every three to five years.

"There will be no harassment on bond anymore. We will not allow that," he said. 

Amir Khosru said the government wants to create an environment where sectors such as jewellery manufacturing, diamond processing and other export industries can grow without being constrained by cumbersome regulations and import duties on raw materials.

"The government is also planning to introduce a single-point clearance system for business licences and approvals, with strict deadlines for government agencies to respond to applications. Company registration and other regulatory services will be shifted online and processed within fixed timeframes," added the minister.

Calling deregulation a cornerstone of the administration's economic strategy, Khosru said Bangladesh has historically suffered from excessive regulation that increased costs and slowed investment.

He mentioned plans to promote the creative economy by supporting artisans, cultural workers and rural producers through improved access to finance, design services, branding, and international markets.

The government plans to establish a 160-acre creative district near Dhaka as part of its efforts to develop Bangladesh's creative economy and create new avenues for employment.

Khosru also outlined the government's focus on digitalisation, including reforms to tax administration, port operations and business services. 

He said authorities are exploring partnerships with internationally recognised testing agencies to reduce delays at Chattogram port and improve trade facilitation.

The roundtable brought together policymakers and young entrepreneurs to discuss investment, regulatory reform, entrepreneurship and Bangladesh's long-term economic growth strategy ahead of the national budget.