FROM PAGE B1
CUSTOMS PROCEDURES TO BE SIMPLIFIED
Several reforms target customs administration and bonded warehouse facilities.
The government plans to extend bond facilities beyond the readymade garments sector to other export-oriented industries. Annual bond audits for compliant garment exporters may be withdrawn, while bond validity periods in some sectors will be extended.
Ten sectors, including motorcycles, speedboats, fish processing, handicrafts, diversified jute products and sanitary products, may be allowed to import raw materials against bank guarantees without obtaining bond licences.
Authorities also plan to reduce customs paperwork, expand self-assessment facilities and allow accredited private laboratories to conduct product testing alongside government facilities to reduce port congestion and delays.
EASIER PROFIT REPATRIATION
To improve investor confidence, the government intends to simplify rules governing profit repatriation and capital transfers.
Applications related to the repatriation of profits from foreign investments will be processed within 30 days. Requirements for share transfers and capital repatriation in unlisted companies will be eased, while certain transactions will no longer require prior approval from Bangladesh Bank.
The reform package also proposes simplifying foreign trade payments, expanding digital lending and cashless transactions, and easing regulatory requirements for banking services.
CAPITAL MARKET AND CONSTRUCTION APPROVALS
The government plans to streamline IPO approvals through digital platforms, reduce documentation requirements and review the possibility of direct listing for eligible companies.
Measures are also proposed to expand the corporate bond market and strengthen participation by institutional investors.
Construction, environmental and fire-safety approvals will be integrated into a single online platform. A risk-based approval system will be introduced so that low-risk projects receive faster clearances while higher-risk projects continue to undergo detailed scrutiny.
HIGH-LEVEL TASK FORCE
The government says a high-level task force will oversee implementation of the deregulation programme. A dedicated website will also be launched to track progress and allow businesses to report delays or irregularities in service delivery.
Commenting on the government’s deregulation initiatives, M Masrur Reaz, chairman and CEO of Policy Exchange Bangladesh, said the new government appears to be treating deregulation as a key reform tool for creating a more business-friendly environment.
He welcomed the approach, noting that Bangladesh’s business environment is burdened by unnecessary and outdated regulations, as well as red tape arising from weak regulatory enforcement.
Reaz said deregulation-driven reforms could involve removing redundant rules, simplifying existing regulations and allowing greater self-regulation by industry bodies such as the Bangladesh Garment Manufacturers and Exporters Association.
Such measures, he said, would reduce the time, cost and procedural burden of regulatory compliance for businesses, making government services faster, easier and more competitive.Bangladesh Chamber of Industries President Anwar-ul-Alam Chowdhury Parvez also welcomed several of the proposed measures, but questioned whether they could deliver results without deeper structural reforms.
Manufacturers remain more concerned about uninterrupted gas supply and a stable banking sector than fiscal incentives, he said.
Persistent energy shortages, rising non-performing loans, weak investor confidence and the absence of a clear roadmap for banking reforms continue to weigh on business sentiment, he noted, adding that success would ultimately depend on implementation capacity and institutional reforms.