PM Orders Simplified Project Approval to Boost Investment

Prime Minister Tarique Rahman has directed officials to simplify the project approval process to attract both domestic and foreign investment. During a high-level meeting at the Bangladesh Secretariat on Monday, the Prime Minister also pledged full government support for investors interested in reviving long-closed state-owned factories.

The meeting, held at the Cabinet Division, focused on assessing the status of idle facilities under the Ministry of Textiles and Jute. Addressing officials, the Prime Minister emphasized that creating a business-friendly environment is a top priority, necessitating the removal of bureaucratic bottlenecks.

"To achieve our investment goals, we must eliminate existing complications," the Prime Minister stated. "The approval process should be streamlined and modernized. Mandatory clearances from non-essential departments must be removed to save time and maintain investor interest."

Senior officials noted that prolonged approval timelines and the requirement for permits from numerous departments currently serve as significant deterrents to private capital.

Beyond administrative reforms, the Prime Minister highlighted the need for easier access to credit for those looking to take over state-run factories. He instructed relevant ministers to implement immediate measures to facilitate financing for private sector participation in these industries.

The session was attended by key cabinet members and advisors, including Commerce and Industry Minister Khandaker Abdul Muktadir Chowdhury, Political and Industrial Advisor Ruhul Kabir Rizvi, and Finance Advisor Dr. Rashed Al Mahmud Titumir. Top officials from BIDA, BTMC, and BJMC were also present.