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Govt plans to cut business approval time to 18 days
Business - -
Source: Wikimedia Commons
While the government’s ultimate target is a 14-day turnaround, a roadmap presented by Invest Bangladesh (IB) outlined an interim 18-day timeline.
The government is planning a major overhaul of Bangladesh's investment regime, aiming to slash the time required to secure all business startup licences, clearances, and approvals from up to 355 days down to just 18 days.
The initiative aims to boost domestic and foreign direct investment by eliminating bureaucratic delays. Under the proposed system, investors will be able to obtain 11 of the 12 required statutory documents within a single day each. The government also plans to reduce prerequisites, allow parallel application processing, and introduce a single digital platform to streamline operations.
The decisions were taken during the second meeting of the committee formed to simplify industrial setup procedures. The meeting, chaired by Commerce and Industries Minister Khandakar Abdul Muktadir, was held at the Ministry of Textiles on 19 October.
While the government's ultimate target is a 14-day turnaround, a roadmap presented by Invest Bangladesh (IB) outlined an interim 18-day timeline.
Source: The Business Standard
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