Commerce Minister Khandakar Abdul Muktadir -File photo

DHAKA, June 27, 2026 (BSS) - Commerce Minister Khandakar Abdul Muktadir today 
said the government is implementing a series of rapid reforms in business 
registration, licensing, port management and the energy sector to create a 
more investment-friendly environment aimed at boosting investment, expanding 
industrialisation, generating employment and strengthening export 
competitiveness.

He made the remarks while addressing as the chief guest at a discussion 
titled "Collaboration for Employment Generation and Skills Development in the 
Industrial Sector" held at the BGMEA Complex in Uttara this afternoon.

The commerce minister said the readymade garment (RMG) sector accounts for 
nearly 85 percent of the country's total export earnings, describing the 
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) as one of 
the country's strongest and most organised business associations, said a 
press release.

While sectors such as leather, jute, light engineering and shipbuilding have 
significant potential, he said none would be able to match the scale of the 
RMG industry in the short term.

"Therefore, the contribution of the RMG sector to the national economy 
remains indispensable," the Commerce Minister said.

Muktadir said the present government has been working since assuming office 
to transform Bangladesh into an attractive global investment destination.

Noting that it currently takes an average of 355 days to start a business and 
obtain the necessary licences, he said the government has undertaken 
initiatives to drastically reduce the timeframe.

Under the reform plan, entrepreneurs will be able to obtain the Import 
Registration Certificate (IRC) and other primary approvals within 14 days of 
company registration, enabling them to import machinery and establish 
industries much faster.

Muktadir said the government will introduce an integrated inspection system 
to replace separate inspections by different agencies, reducing harassment 
for entrepreneurs and significantly shortening the time required to establish 
industrial facilities.

He also said a comprehensive one-stop service will provide online access to 
trade licences, company registration, share transfers and company dissolution 
services, following successful models adopted by Singapore and Malaysia.

Highlighting port sector reforms, he said the engagement of international 
operators would improve cargo handling efficiency, reduce vessel waiting time 
and lower transportation costs, enabling exporters and importers to become 
more competitive in the global market.

Referring to challenges in the energy sector, the minister said that the 
government plans to install another Floating Storage and Regasification Unit 
(FSRU) alongside increasing domestic gas production and LNG imports.

The new terminal is expected to add 550-600 million cubic feet of gas per day 
to the national grid.

"The gas shortage has prevented many industries from commencing production. 
Ensuring uninterrupted energy supply is therefore one of the government's top 
priorities, as it is crucial for industrial production, employment generation 
and export growth," he continued.

Concluding his speech, the commerce minister reaffirmed the government's 
commitment to working in partnership with business leaders and industrial 
entrepreneurs to build a modern, efficient and investment-friendly business 
environment so that Bangladesh can emerge as one of the world's most 
attractive destinations for investment and trade.

BGMEA President Mahmud Hasan Khan chaired the programme while Asian 
University for Women Vice-Chancellor (VC) Dr Rubana Huq delivered the welcome 
address.

Among others, Asian University for Women Founder Kamal Ahmad, Youngone 
Corporation Chairman Kihak Sung and HSBC Bangladesh Head of Sustainability 
Syeda Afzalun Nessa also spoke at the event.

Former BGMEA President Engineer Kutubuddin Ahmed, its former Vice-President 
and Urmi Group Managing Director (MD) Asif Ashraf, and other industry leaders 
were present.