In a call-on meeting with a BUILD delegation today, on 12 May 2026, Khandaker Abdul Muktadir, Honourable Minister of Commerce, informed that a series of sweeping regulatory reforms is aimed at reducing the cost of doing business, easing the business environment, and accelerating the transition toward a trillion-dollar economy.
Honourable Minister of Commerce said, “The government is committed to simplifying the start-up process for entrepreneurs, including company formation processes to be faster and easier. For major licences, including Fire and DIFE, the government is considering making it easier by issuing a provisional licence valid for 12 months until the final licence process is completed. This would allow businesses to implement without unnecessary delays.” Regarding the expansion of Bonded Warehouse facilities, any sector that presents a viable proposal is invited to come forward. He said that the government is also eager to work with BUILD to develop the jute sector, and, in that regard, Jute Pulp from green jute could be an option. Furthermore, he stated that plans are progressing to create an investment-friendly business climate by consolidating investment agencies into a single entity to streamline the investment ecosystem. The concern regarding private-sector representation in Public-Private Partnerships (PPPs) has also been noted for further review.
Abul Kasem Khan, Chairperson, BUILD, said, “Deregulation is the most effective tool for controlling the grey economy and bringing more businesses into the formal sector. The current trade licence system remains a major barrier for new entrepreneurs, and a transition toward a ‘One Licence’ system is necessary to foster innovation.” To further support youth-led ventures, he proposed a five-year tax exemption for young entrepreneurs. Additionally, he informed that BUILD is in active conversation with the PMO regarding critical logistics reforms and will present these ideas to the Prime Minister shortly. He noted that BUILD is planning to hold a “policy summit” at the end of this year to define the private sector’s requirements for the next decade to achieve a trillion-dollar economy.
Kamran T. Rahman, Trustee, BUILD, and President, Metropolitan Chamber of Commerce and Industry (MCCI), said that “the jute sector remains a pillar of the national economy but requires urgent modernisation. Modern technology must be integrated into the jute sector to improve efficiency and value addition, ensuring it remains a profitable and sustainable industry in the years ahead.”
Ferdaus Ara Begum, CEO of BUILD, emphasised the importance of product traceability. According to her, ensuring product traceability is no longer optional in the global market; it is now mandatory for maintaining access to international supply chains, particularly in the EU. A robust National Traceability Strategy is essential to ensure transparency and compliance with evolving global sustainability standards, which directly impacts the competitiveness of our exports. Furthermore, she stated that, to support local industries, Geographical Indication (GI) products should be leveraged to promote the “One Village, One Product” initiative. She raised the concern that the manufacturing industry currently requires up to 23 different licences to operate. This burden on the business community must be minimised to maintain a competitive industrial edge.