Bangladesh is planning a major overhaul of its business approval system, including a digital Single Window platform designed to deliver investment-related services within seven days, as the government seeks to cut bureaucratic delays, attract domestic and foreign investment and accelerate economic growth.
Under the proposed system, entrepreneurs will be able to submit applications, complete verification, obtain approvals and licences, secure clearances and track progress through a single online platform, according to a budget document.
The initiative aims to reduce the time, cost, uncertainty and administrative complexity involved in setting up and running businesses, while making public services simpler, faster, more transparent and predictable.
The government plans to set specific Service Level Agreements (SLAs) for each approval and licensing service.
If a relevant agency fails to provide its opinion, no-dues confirmation, no-objection or clearance within the stipulated timeframe, the application may be processed through deemed or automatic approval, where applicable.
The reform programme will cover business registration, construction and environmental approvals, post-investment services, tax and customs compliance, external transactions, banking services, access to long-term capital market financing and local licensing.
For small and new businesses, the government will consider introducing an online provisional approval system, allowing entrepreneurs to start operations quickly and complete the required licensing and compliance procedures within six to 12 months.
Company name clearance, registration applications, fee payments and certificate issuance will be handled online, with company registration to be completed within 48 hours.
The government also plans to simplify procedures for hiring foreign professionals.
Work permits for foreign experts and skilled professionals are expected to be issued within seven days, while visas for investors and project-related personnel will be processed within 10 days.
Steps will also be taken to introduce five-year multiple-entry investor visas for eligible investors and key personnel involved in investment projects.
To speed up the approval and implementation of large and strategic foreign investment projects, dedicated support officers, teams or project-based case managers will be assigned to the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA), Bangladesh Export Processing Zones Authority (BEPZA) and Bangladesh Small and Cottage Industries Corporation (BSCIC).
A round-the-clock help desk and a Grievance Redress System will also be introduced to address investors’ queries, complaints and problems. Investors will receive application updates through SMS, email, helplines and online tracking facilities.
The reform plan also seeks to bring trade licence services provided by city corporations and municipalities gradually under the investment service system.
Applications, fee payments, renewals, licence issuance and progress tracking will be available online to reduce delays and repeated visits to local offices.
Under another initiative, Plug and Play industrial facility packages will be introduced in selected industrial and economic zones. Land, infrastructure, electricity, gas, water, road connectivity and initial approvals will be prepared in advance to help entrepreneurs establish factories and begin production more quickly.
The government also plans to simplify inter-agency approvals, verification and consultation for investment projects, with online tracking of progress. Security clearance for foreign employees will be made digital and time-bound while retaining essential security checks.
To strengthen legal protection for investors and improve international confidence, the government plans to expand bilateral investment treaties and update and effectively implement double taxation avoidance agreements.
Existing agreements will be reviewed regularly to assess their effectiveness and implementation.
The budget document says the deregulation initiative will not involve removing necessary laws, rules or oversight arrangements. Public interest, environmental protection, safety, investors’ rights and legitimate government revenue collection will remain protected.
Instead, procedural requirements that increase business costs, require repeated submission of the same information or create uncertainty in decision-making will be simplified. Accountability at each stage of service delivery will also be strengthened to reduce opportunities for corruption.
The government considers a more dynamic private sector and easier access to public services essential to improving the business climate, expanding investment and achieving higher economic growth.