Prime Minister Tarique Rahman has instructed relevant authorities to simplify the project approval process in order to encourage both local and foreign investment in Bangladesh.
He made the directive during a meeting held at the Prime Minister’s Office at the Cabinet Division in the Bangladesh Secretariat on Monday. The session focused on the current status of closed factories under the Ministry of Textiles and Jute, as well as possible steps to bring them back into operation.
According to the Prime Minister’s Press Wing, the meeting brought together officials from concerned ministries and departments.
Tarique Rahman reaffirmed the government’s commitment to building an investment-friendly environment and stressed the need to remove existing administrative complications that discourage investors.
Officials present at the meeting highlighted those delays in final project approvals and the requirement of clearances from multiple departments often discourage both domestic and foreign investors. They also pointed out that procedural complexities act as a major barrier to investment growth.
In response, the Prime Minister directed authorities to streamline the approval system by removing unnecessary steps and excluding approvals from ministries or departments that are not essential to the process.
He also emphasised improving access to financing in order to encourage private investment in long-closed state-owned factories. Relevant ministers were instructed to take immediate action in this regard.
The meeting was attended by Commerce, Industry, Textiles and Jute Minister Khandaker Abdul Muktadir Chowdhury, Political and Industrial Adviser Ruhul Kabir Rizvi, Finance and Planning Adviser Dr Rashed Al Mahmud Titumir, State Minister Shariful Alam, BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun, along with senior officials from BTMC and BJMC, among others.
