The government is working to make the licensing and approval process simpler, faster and more integrated in order to ensure an investment-friendly environment in the country, Commerce Minister Khondoker Abdul Muktadir has said. A central, online-based ‘one-stop window’ system is being built so that investors do not have to move from one office to another, he said.
He made the remarks on Sunday morning during a courtesy call by a delegation of the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) at the conference room of the Commerce Ministry. The delegation was led by JBCCI president Tarek Rafi Bhuiyan. Commerce Ministry secretary Md Ataur Rahman Khan was present.
The commerce minister said that, because the approval process for setting up any physical installation or industrial plant is tied to actual infrastructure work, it is not always possible to complete it fully within 15 days, as such installations require examining various aspects including safety, risk management, fire safety and environmental issues. The fire service and other relevant authorities would inspect the installation and grant final approval, he said. But to ensure investment activity is not delayed, the government would arrange to grant temporary or provisional licences, allowing investors to begin initial activities quickly.
He added: ‘We have already set out a framework to reduce the time taken for the approval process. Work is now under way on sector-based licensing, because each sector needs a different kind of approval and documentation. The approval process for setting up a power plant, for instance, is different from that for setting up a textile factory.’
Noting steps to make the factory-inspection system more integrated, the commerce minister said the inspection activities of the relevant agencies would be coordinated through the Bangladesh Investment Development Authority (BIDA). BIDA would set the inspection date, bring all the relevant agencies together, and complete the inspection at once under an integrated system, so that investors would not have to go to various agencies repeatedly.
The commerce minister also set out the government’s position on electric vehicles (EVs). He said Bangladesh wanted to reduce its dependence on fuel and move towards a more sustainable transport system. The recent fuel crisis had shown that excessive dependence on diesel and petroleum products was economically costly and that supply could become risky in times of crisis. He said the government was keen to gradually move the country’s vehicle system towards electric and hybrid technology, and that there was a positive attitude on the matter in the cabinet. But noting that Bangladesh was not yet fully ready for all-electric vehicles, he said that, considering reality, the government would for now place more emphasis on importing and using plug-in hybrid cars.
The JBCCI delegation stressed Japanese investment in Bangladesh, trade expansion, setting up industries, simplifying the licensing process and the use of sustainable technology. Describing Japan as a long-standing development partner and important trade partner of Bangladesh, the commerce minister said the government was committed to ensuring an easier, more transparent and more effective business environment in Bangladesh for Japanese investors. ‘We want to create an investment environment where investors get the services they need with a single click on one online platform. Our goal is to increase investors’ confidence by reducing time, cost and complexity,’ he said. Praising the free-trade agreement between Bangladesh and Japan, JBCCI leaders said the agreement would further strengthen trade and investment cooperation between the two countries.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report