Reforms to cut business costs, simplify operations: Minister

FE REPORT | Published: May 12, 2026 23:15:37

Commerce Minister Khandaker Abdul Muktadir said a series of sweeping regulatory reforms aims to reduce the cost of doing business, simplify operations and accelerate the country's transition toward a trillion-dollar economy.
In a meeting with a Business Initiative Leading Development (BUILD) delegation held at his ministry on Tuesday, Muktadir said, "The government is committed to simplifying the start-up process for entrepreneurs, including company formation processes to be faster and easier."
For major licences, including fire and DIFE, the government is thinking to make it easier by issuing a provisional license until final license process is completed within 12 months. This would allow implementation of business without unnecessary delays, he pointed out.
Regarding the expansion of bonded warehouse facilities, he said any sector that presents a viable proposal is invited to come forward.
He said that government is also eager to work with BUILD on the development of jute sector and in that respect jute pulp from green jute could be an option.
Furthermore, the minister also informed that "plans are progressing to make investment-friendly business climate by bringing investment agencies under a single entity to streamline the investment ecosystem. The concern regarding private sector representation in Public-Private Partnerships (PPP) has also been noted for further review".
Abul Kasem Khan, chairperson, BUILD, said, "Deregulation is the most effective tool for controlling the grey economy and bringing more businesses into the formal sector. The current trade license system remains a major barrier for new entrepreneurs, and a transition toward a 'One License' system is necessary to foster innovation. To further support youth-led ventures, he proposed a five-year tax exemption for young entrepreneurs".
Kamran T. Rahman, trustee of BUILD and president of the Metropolitan Chamber of Commerce and Industry (MCCI), and Ferdaus Ara Begum, CEO, BUILD, also among others, were present at the meeting.
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