Making business easier in Bangladesh is our goal: Commerce Minister

Commerce, Industry, Textiles and Jute Minister Khandaker Abdul Muktadir stated that a major issue identified in the country is the complexity of business procedures. He announced plans to streamline the process of starting a business.

He made these remarks as the chief guest during the inauguration of the three-day '1st International Dhaka Industrial Packaging Expo 2026' held at the Bangladesh-China Friendship Conference Center in the capital on Thursday. Khandaker Abdul Muktadir said, "I would like to offer some insights into our future plans. This will be beneficial for us. We cannot progress if we continue dwelling on the past. The significant challenge we have observed is the excessive complexity of business processes. Currently, registering a business with BIDA requires 25 to 26 different licenses and permits." The Commerce Minister added, "We will simplify this process for starting a business. In the future, a company that goes to BIDA for registration will receive all necessary clearances through a provisional clearance." He noted that Bangladesh's logistics costs currently stand at approximately 16 percent of GDP, compared to a global average of around 10 percent. Inefficiencies in port management are driving up transportation costs, hindering the country's international competitiveness. To address this, internationally recognized foreign operators are being brought in. He mentioned that a Danish company has already begun operations at a container terminal, and more global firms will be involved in various port activities in the future. Khandaker Abdul Muktadir said, "Bangladesh is transitioning from an LDC to a developing country. In this context, there is no room for 'stop-gap' or temporary solutions. Sustainable reform programs must be implemented continuously." Regarding state-owned industries, the minister noted that many large enterprises have been idle or running at a loss for years, placing significant subsidy pressure on the government. There are approximately 40 industries under the Ministry of Industries and about 50 more under the textile and jute sectors. The government is gradually opening up the vast land and resources of these institutions for private investment to bring them into production and create employment. He stated, "Our goal is to transform these idle industrial institutions into centers of investment and employment within the next one to two years. In some cases, modernization will take place; in others, new industries will be established; and elsewhere, opportunities for export-oriented production will be created." As an example, he pointed out that each sugar mill in the country is established on an average of one thousand bighas or more of land. Establishing modern industrial parks or multifunctional industrial institutions on these sites could generate substantial investment, employment, and increase government revenue. Referring to the potential of the packaging industry, the Commerce Minister said the global packaging market is enormous, and Bangladesh must set ambitious goals in this sector. He advised entrepreneurs, "You cannot achieve big things by thinking small. The government will provide policy and institutional support, but entrepreneurs must drive the industry's growth." He also emphasized that the government aims to develop domestic industries, create new jobs, strengthen the position of Bangladeshi products in international markets, and inject new momentum into the economy by boosting export earnings. Mohammad Hasan Arif, Vice-Chairman and CEO of the Export Promotion Bureau, stated, "The packaging industry is a vital sector for export diversification. If we can ensure international standards, it will become easier to enter new markets." Safius Sami Alamgir, President of the Bangladesh Flexible Packaging Industries Association, said, "For the sustainable development of the packaging industry, emphasis should be placed on quality control, environmentally friendly production, and recycling systems." Rashedul Haque, Managing Director of Exponet Exhibition Private Limited, said, "This expo will connect entrepreneurs, technology providers, and investors, creating new business opportunities." It was announced at the event that there are currently more than 6,000 production units in the plastics sector in the country, of which about 450 are export-oriented. This sector has created employment for approximately 1.5 million people and meets more than 80 percent of domestic demand.