7-day licence approval system on the cards for businesses to boost investment

The government is likely to reform the approval and
licensing process for businesses in the FY2026-27 budget, aiming to complete
the process within seven days.
Officials
believe the move would simplify business start-up procedures and help create a
more investment-friendly environment.
Under
the proposed measures, the entire licensing process, from submitting an
application online to the issuance of a licence, could be completed within a
maximum of seven days.
The budget is also expected to introduce a "deemed
approval" mechanism. Under this arrangement, if a relevant authority fails
to provide feedback, clearance, a no-objection certificate or other required
documentation within a specified timeframe, applications may be processed on
the assumption that approval has been granted, where applicable.
Efforts
are also being made to accelerate company registration services. According to
the plan, company registration could be completed within 48 hours under the
proposed budget measures.
In
addition, work permits for foreign experts and skilled professionals may be
issued within seven days, while visas for investors and project-related
personnel could be processed within 10 days.
The
government is also planning to introduce a "plug and play" industrial
facilities package in designated industrial parks and economic zones during the
next fiscal year.
The
initiative is intended to enable businesses to establish factories and commence
production more quickly.
Stakeholders
say that, if implemented effectively, the measures can significantly improve
the ease of doing business and help attract greater domestic and foreign
investment.
Finance Minister Amir Khosru Mahmud
Chowdhury is set to unveil his maiden national budget for FY27 in parliament
this afternoon (11 June), outlining a roadmap to accelerate Bangladesh's
transformation into a more investment-led economy and advance its ambition of
becoming a trillion-dollar economy through higher growth targets, regulatory
reforms and expanded fiscal incentives.
The proposed budget is expected to
have a total outlay of Tk9.38 lakh crore, making it the largest national budget
in Bangladesh's history.
















