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.