The government has established two high-level committees aimed at simplifying regulatory procedures and improving access to financing for industrial projects, reinforcing its efforts to enhance the ease of doing business and attract both domestic and foreign investment.
According to separate gazette notifications issued by the Prime Minister’s Office on June 9, the committees have been tasked with addressing longstanding challenges related to industrial approvals and financing for businesses operating on government-owned land.
The first committee, comprising senior government officials and policymakers, will focus on streamlining the issuance of licences, permits, no-objection certificates, and other regulatory approvals required for setting up new industries and factories.
The seven-member inter-ministerial body will be chaired by the adviser overseeing the ministries of Commerce, Industries, and Textiles & Jute. Other members include the adviser to the ministries of Finance and Planning, the Executive Chairman of BIDA, the Cabinet Secretary, the Principal Secretary to the Prime Minister, the Finance Secretary, and the Secretary of the Ministry of Environment, Forest and Climate Change.
The committee has been mandated to recommend measures for reducing procedural complexities, eliminating unnecessary regulatory requirements, and accelerating approval timelines. It will also propose a framework for granting provisional approvals at the initial stage of investment projects, enabling entrepreneurs to begin certain activities before receiving all final clearances.
Additionally, the committee will review existing permit and approval requirements and develop a classification system based on their importance, with the objective of reducing compliance burdens and improving regulatory efficiency.
In a parallel initiative, the government has formed another high-level committee to facilitate bank financing for industries operating on state-owned mills, factories, and government land—an area where investors have historically faced significant challenges in securing credit.
The committee will recommend policy measures to enable businesses to obtain financing against leasehold interests and other rights associated with government-owned properties. It will also provide guidance to financial institutions, including Infrastructure Development Company Limited (IDCOL) and Bangladesh Infrastructure Finance Fund Limited (BIFFL), on supporting projects established on government land.
The initiatives come amid increasing calls from the private sector to improve regulatory efficiency, reduce business costs, and expand access to financing. Entrepreneurs have long argued that obtaining approvals from multiple agencies increases both the time and expense of establishing industrial ventures, while financing constraints have limited investment in projects located on government-owned land.
The measures complement several investment-friendly initiatives announced in the national budget, including the introduction of a digital single-window platform for issuing business licences within seven days, expanded digital tax and VAT services, and incentives for technology-driven and environmentally sustainable industries.
Business leaders have welcomed the government’s move, describing it as a positive step toward strengthening Bangladesh’s investment climate.
Taskeen Ahmed, President of the Dhaka Chamber of Commerce and Industry (DCCI), said the proposed reforms demonstrate the government’s commitment to fostering a private sector-led economy. He noted that faster issuance of licences and clearances could significantly improve the ease of doing business, provided the measures are implemented effectively.
Kamran T. Rahman, President of the Metropolitan Chamber of Commerce and Industry (MCCI), said digitalization of approval processes would reduce delays, lower operational costs, and minimize the need for entrepreneurs to make repeated visits to government offices.
Mohammed Amirul Haque, President of the Chittagong Chamber of Commerce and Industry (CCCI), also welcomed the initiatives, saying a more investor-friendly and collaborative approach would contribute positively to economic growth and investment promotion.
While the business community has broadly praised the reforms, industry leaders emphasized that their ultimate success will depend on timely and effective implementation.
