BUILD Trustee Board Meets With the Honourable Commerce Minister

Business Initiative Leading Development (BUILD) Chairperson Abul Kasem Khan paid a courtesy call on Tipu Munshi, Minister of Commerce, Ministry of Commerce, Government of Bangladesh, on 15 February 2021 at the Minister’s office.

Commerce Minister Tipu Munshi said his ministry would work to reduce the current minimum paid-up capital to 0.5 million from 2.5 million for the one-person company in the Companies Act (2nd Amendment) Bill, 2020 to allow more small businesses to take part in registration, thus enabling their formalization. The honourable minister also emphasized the need for trade license for e-commerce businesses.

Mentioning that e-commerce should be automatically recognized as enterprises, the minister added that this high-potential sector is not getting promoted as expected since they need trade licenses. His ministry is already working with the Local Government Ministry to speed up introducing trade license for the industry so that e-commerce businesses could access finance and other opportunities.

Enclosed is the press release (in English) for your kind consideration. Please feel free to contact us for any queries.