Dhaka: Significant advancements have been reported in investment facilitation initiatives across ministries and departments in the country. The updates were revealed at the 5th Investment Coordination Committee meeting chaired by Chief Adviser's Special Envoy on International Affairs Lutfey Siddiqi, said a press release of Chief Adviser's Press Wing tonight.
According to Bangladesh Sangbad Sangstha, the meeting underscored the government's commitment to enhancing the business environment through execution and accountability. Lutfey Siddiqi emphasized the importance of a transparent and rigorous approach to fostering a conducive operating environment for businesses. The meeting saw the participation of notable figures such as Bangladesh Bank Governor Ahsan H Mansur, Chief Adviser's Special Assistant for ICT Faiz Ahmed Taiyeb, and other key stakeholders.
The Ministry of Commerce has agreed in principle to amend the Free of Charge (FOC) Import Policy, eliminating quotas for 100 percent export-oriented companies. This policy amendment is expected to be finalized within two weeks and is anticipated to significantly reduce inventory costs while boosting competitiveness. According to BGMEA, the policy's unconditional implementation could potentially impact export revenues by billions of dollars.
A major milestone in digital infrastructure development is the successful launch of Phase 1 of the Bangladesh Business Portal in September 2025, providing a unified digital gateway for investors. Phase 2, expected by December 2025, will introduce a Business Starter Package and Single Sign-On functionality, integrating 29 government services. The initiative aims to enhance data interoperability with existing systems like Bangladesh Single Window (BSW) and ASYCUDA, aligning with the country's broader digital governance strategy and investor expectations.
Efforts to modernize Chattogram Port are advancing, with projects like the Laldia Yard and Taltala Container Yard addressing container congestion issues. A decongestion initiative is underway to clear over 6,000 containers, with significant progress already made. The implementation of Automated Risk Management Software (ARMS) is in progress, promising improvements in cargo inspection through data-driven risk profiling.
In the banking and financial services sector, the central bank has activated Real-Time Gross Settlement (RTGS) services in port-area bank branches and is working towards 24/7 service availability. Bangladesh Bank is developing documentation to simplify payment processes for export-import transactions. Additionally, policy reviews concerning advance payment limits for imports and Export Retention Quota (ERQ) flexibility are underway, aiming to enhance working capital management for export-oriented industries.
Efforts to streamline business registration and licensing are also in progress, with Single-Entry Points established in major city corporations. The Local Government Division plans to expand these platforms nationwide, aligning with BIDA's architecture. Trade license renewal options have been extended from one to five years, reducing the administrative burden on businesses.