To ensure an investment-friendly environment, the government is working to simplify, expedite, and integrate the licensing and approval processes, according to Commerce Minister Khandaker Abdul Muktadir. To prevent investment delays, the government will introduce temporary licenses, allowing investors to start initial activities promptly. Additionally, a centralized online 'one-stop window' system is being developed to prevent investors from having to navigate between different departments. The minister made these announcements during a courtesy meeting with a delegation from the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) at the Commerce Ministry conference room on Sunday morning. JBCCI President Tareq Rafi Bhuiyan led the delegation, and Commerce Secretary Md. Ataur Rahman Khan was present. The minister noted that the approval process for establishing physical infrastructure or industrial plants is complex and cannot always be completed within 15 days due to various factors such as safety, risk management, fire safety, and environmental considerations. Final approval will be given by relevant authorities, including the fire service, after inspecting the facility. The minister also mentioned that the government has outlined a plan to reduce approval times and is currently working on sector-specific licensing processes. He highlighted efforts to coordinate inspection activities through the Bangladesh Investment Development Authority (BIDA), which will schedule and conduct unified inspections to avoid investors from repeatedly visiting different agencies. Regarding electric vehicles (EVs), the minister stated that the government aims to reduce fuel dependency and move towards more sustainable transportation. He emphasized the government's positive stance on plug-in hybrid vehicles, given the current state of EV readiness in Bangladesh. The JBCCI delegation stressed the importance of Japanese investment, trade expansion, industrial establishment, simplified licensing processes, and sustainable technology use in Bangladesh. The minister acknowledged Japan as a long-term development partner and significant trade partner, reaffirming the government's commitment to ensuring a simpler, transparent, and effective business environment for Japanese investors.
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- What is the purpose of introducing temporary licenses?
- To prevent investment delays and allow investors to start initial activities promptly.
- What is the 'one-stop window' system?
- A centralized online system designed to prevent investors from having to navigate between different departments for approvals.
