The 14th Private Sector Development Policy Coordination Committee (PSDPCC) took place at the Prime Minister’s Office (PMO) on 14 August 2023 under the chairmanship of Md Tofazzel Hossain Miah, Principal Secretary to the PMO. The meeting discussed several policies and regulatory simplification requirements for meeting export diversification targets in the national plans and export road maps. PSDPCC is the only strategic public sector platform for private sector-related policy review, coordination, identification of investment barriers and fostering public-private cooperation.
Organized by Business Initiative Leading Development (BUILD) and the PMO, the meeting initially did stocktaking of the 13th PSDPCC meeting and mentioned the reforms proposed already and implemented. BUILD CEO Ferdaus Ara Begum made the keynote presentation, mentioning that out of 72 proposed reforms from the fifth to eleventh PSDPCC meetings, 37 reforms were implemented.
BUILD CEO presented three policy papers entitled “Simplification of Issuing and Renewal Process of Trade Licence”, “Simplification of the Duty-Free Import Process of Raw Materials for Partial Exporters”, and “Implementation of the Work Plan Elaborated in Relevant Policies and Export Roadmaps to Facilitate Export Diversification”. She informed the meeting that the Local Government Division has already been allowed to issue a trade licence with a tenure of 5 years. However, it is not fully implemented across the country, and she urged for an awareness campaign so that all trade licence issuers issue trade licences for five years.
While chairing the meeting, the Principal Secretary said that we would regularly review the overall investment scenario in the private sector and set out ways to improve and identify bottlenecks in private sector development to remove bottlenecks and build cooperation between public and private sectors. He instructed LGRD to investigate the issue of the trade licence so that the trade licence is renewed after five years.
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