Bangladesh targets 14-day business startup process reform.
Commerce Minister Khandakar Abdul Muktadir today said that the government is working to create a more business-friendly environment by reducing licensing complexities and bureaucratic hurdles, with the goal of cutting the time required to start a business from nearly a year to just 14 days.
“The government wants entrepreneurs to be able to complete all necessary procedures within two weeks and, ideally, open a letter of credit (LC) for machinery imports on the 15th day,” he said.
The Minister made the remarks while speaking as the chief guest at a event titled “Aligning the Investment, Trade and Decent Work Agenda for Resilient and Inclusive Supply Chains” at a hotel in the city, said a press release.
Khandakar Abdul Muktadir said that a committee has already been formed to identify procedural bottlenecks, eliminate overlaps and reduce delays in business registration and licensing processes.
A public announcement outlining the implementation of the reforms is expected in July, he added.
Highlighting the government's broader economic agenda, Muktadir said, the recommendations of the UN Committee for Development Policy regarding Bangladesh’s graduation from Least Developed Country (LDC) status should be viewed as an opportunity for planned preparation rather than merely an extension of time.
He stressed the need to use the transition period to strengthen institutional capacity, enhance competitiveness and diversify the country's production base to meet the challenges of the post-LDC era.
Referring to the national budget, the minister said the concepts of a democratic, humane and inclusive economy form the foundation of the government's policy framework.
He noted that simplifying business procedures, reducing licensing complexities and expanding market diversification are among the budget's key priorities.
The minister also underscored the growing importance of sustainability, transparency and responsible business practices in global trade and investment.
He said international buyers and investors are increasingly evaluating countries based on environmental protection, labour rights, human rights and climate resilience.
“In this changing global landscape, countries that can align economic growth with social responsibility and sustainable development will be best positioned to succeed,” he said.
To promote responsible business conduct, Muktadir announced that the Ministry of Commerce has recently established a Responsible Business Conduct (RBC) Cell.
The platform is expected to improve coordination among government agencies, regulators, business associations, labour representatives and development partners, he added.
