The government has announced a wide-ranging deregulation programme aimed at cutting red tape, lowering compliance costs and improving Bangladesh’s business climate as the country prepares for graduation from least-developed country (LDC) status.

Engagement of both public and private sectors is important for the successful implementation of measures to improve ease of doing business, said a top leader of the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) yesterday.

The World Bank has found out that the exporters need around 300 hours to meet the border and documentary compliance requirements in Bangladesh, whereas the time comes down to 60 hours in India and 30 hours in China.