The government has formed a “National Task Force on Deregulation and Ease of Doing Business” to simplify the business and investment environment in Bangladesh.
The task force will identify unnecessary procedures in areas such as licences, approvals, taxes, customs, banking, capital markets, construction and environmental clearances. It will also work to reduce investor complaints and harassment and make government services more accessible.
The Cabinet Division issued a notification on the matter on Sunday (August 9).
According to the notification, the minister in charge of the Ministry of Finance and Planning will serve as chairman of the task force. A total of 22 members, including senior officials from various government ministries and agencies and representatives of business organisations, have been appointed to the task force.
Among the members are Abdul Awal Mintu, Minister for Environment, Forest and Climate Change; Khandaker Abdul Muktadir, Minister for Industries and Commerce; Mohammad Asaduzzaman, Minister for Law, Justice and Parliamentary Affairs; Dr Rashed Al Mahmud Titumir, Adviser to the Ministry of Finance and Planning; and Rehan Asif Asad, Adviser to the Ministry of Posts, Telecommunications and Information Technology and the Ministry of Science and Technology.
The task force will also include the executive chairman of the Bangladesh Investment Development Authority (BIDA), the Prime Minister’s Special Assistant for Investment and Capital Markets, the Cabinet Secretary, the Governor of Bangladesh Bank, the Secretary of the Finance Division, the Secretary of the Ministry of Shipping and the chairman of the National Board of Revenue (NBR).
Other members include the chairman of the Bangladesh Securities and Exchange Commission (BSEC), the registrar of the Registrar of Joint Stock Companies and Firms (RJSC), and the presidents of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Foreign Investors’ Chamber of Commerce and Industry (FICCI), Dhaka Chamber of Commerce and Industry (DCCI), Metropolitan Chamber of Commerce and Industry (MCCI), Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).
The additional secretary of the Finance Division in charge of Macroeconomics and TDM will serve as the member secretary.
According to the notification, the task force will approve sector-specific roadmaps for ease of doing business and deregulation reforms and review progress in implementing those reforms. It will also identify existing obstacles to business and investment and provide necessary policy directions to remove them.
The task force will identify unnecessary steps in licensing, approvals, clearances, taxes and customs, banking, capital markets, construction, environmental services and local government services and take initiatives to simplify them.
It will also provide policy guidance for introducing a “single window” system for government services, service-level agreements (SLAs), automatic approval when decisions are not made within stipulated deadlines and online tracking systems.
Resolving complications arising from a lack of coordination among different ministries and government agencies has also been included in the task force’s mandate.
It will further identify laws, rules, policies, circulars and administrative orders related to business and investment that need to be amended and initiate necessary measures accordingly.
The notification also directs the Invest Bangladesh authority to develop a dedicated website to monitor investor complaints and delays in receiving services. Through the website’s complaint-resolution mechanism, complaints from investors and service recipients, irregularities and delays in service delivery will be monitored. Relevant issues may be referred to the national task force when necessary.
The task force will review the progress of reform initiatives every three months. It has also been given the authority to include additional members when necessary.
According to the notification, meetings of the task force will be held as required, while the Finance Division will provide secretarial support.
The government’s decision has taken immediate effect.
