Government is creating a one-stop window for investors: Commerce

The government is working to make the licensing and approval process easier, faster and more integrated to ensure an investment-friendly environment in the country, Commerce Minister Khandaker Abdul Muktadir said. He said that a central online-based 'one-stop window' system is being developed so that investors do not have to move from one office to another.

He said these things during a courtesy call on a delegation of the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) at the conference room of the Commerce Ministry on Sunday (June 21).

The Commerce Minister said that since the approval process for setting up a physical establishment or industrial factory is related to actual infrastructure work, it is not possible to complete it completely within 15 days in all cases. Because various aspects including safety, risk management, fire safety, environmental issues need to be examined in such establishments. The relevant authorities, including the fire service, will inspect the establishment and give final approval.

However, he said that the government will provide temporary or provisional licenses so that investment activities are not delayed. As a result, investors will be able to start initial activities quickly.

He also said, “We have already set an outline to reduce the approval process time. Now work is underway on the sector-wise licensing process. Because different types of approvals and documents are required for each sector. The approval process for setting up a power plant is different from the process for setting up a textile factory, for example.”

He said that the government is interested in gradually moving the country's transportation system towards electric and hybrid technology. The cabinet has a positive attitude in this regard. However, noting that Bangladesh is not yet fully ready for electric vehicles, he said that considering the reality, the government will give more importance to the import and use of plug-in hybrid vehicles for the time being.

The JBCCI delegation emphasized Japanese investment in Bangladesh, trade expansion, setting up industries, simplifying the licensing process and using sustainable technologies.