Govt forms taskforce to deregulate, improve business climate

The government has formed a national taskforce involving representatives from leading trade bodies on deregulation and business facilitation in an effort to improve the business climate and lure investors.

The 21-member taskforce, chaired by Finance and Planning Minister Amir Khosru Mahmud Chowdhury, also comprises key cabinet members, senior officials and heads of regulatory agencies. It will approve sector-specific reform roadmaps on deregulation and business facilitation and review progress in implementing the reforms.

Tap here to add The Daily Star as a trusted source

The development follows the wide-ranging deregulation package announced by the finance minister in his budget speech for the fiscal year 2026-27 in June, which aims to cut red tape, lower compliance costs and boost business competitiveness ahead of Bangladesh's LDC graduation.

The panel will identify unnecessary steps for licences, permits and clearances and ask for their removal, according to a notification issued by the Cabinet Division yesterday.

The taskforce is also tasked with providing policy guidance for the execution of trade facilitation initiatives such as the National Single Window, an electronic platform for trade approvals and online tracking systems.

Additionally, it will resolve inter-ministerial complexities, identify necessary legal and regulatory amendments, and oversee a dedicated website under the Bangladesh Investment Development Authority featuring an online tracking system and a grievance redress mechanism.

The Finance Division will provide secretarial support, said the Cabinet Division, adding that the order will take effect immediately.