The government of Bangladesh is committed to implementing high-impact regulatory reforms such as streamlining the existing company registration process and reduce administrative costs in the procedures, said Mr Tipu Munshi, MP, Hon’ble Minister of Commerce. He presided over a webinar on “Streamlining Company Registration Process in Bangladesh” as Chief Guest on Sunday. The meeting was organised by Business Initiative Leading Development (BUILD) in collaboration with The Feed the Future Bangladesh, supported by USAID.
The Commerce Minister cited the examples of Singapore and Malaysia that have shown remarkable success in simplifying the company registration process, reducing the time to register a company to less than one hour. Bangladesh’s Registrar of Joint Stock Companies and Firms (RJSC) has undergone several reforms and digitalised the registration process. However, still, there is room for improvement for which collaboration of both the public and private sectors is required.
Mr Abul Kasem Khan, Chairperson, BUILD, commenced the program by thanking the Commerce Minister for taking the lead in modernising the company act. RJSC has digitised the registration process along with other services. He mentioned that BUILD is presenting a survey conducted jointly with The Feed the Future Bangladesh containing recommendations to reduce the time and costs in the company registration process.
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