B Mirror Report: This week, the interim government emphasized significant advancements in boosting investment and trade efficiency, pointing to better collaboration among agencies and accelerated decision-making as essential factors for economic competitiveness.
The updates were communicated at the 7th meeting of the Investment Coordination Committee (ICC), which took place Thursday at the Chief Adviser’s Office in Tejgaon, as reported by the Chief Adviser’s Press Wing. The meeting gathered high-ranking policymakers and regulators to discuss reforms designed to minimize bureaucratic impediments, digitalize services, and speed up investment processes.
“Streamlined processes can significantly boost our competitiveness and directly impact livelihoods,” said Lutfey Siddiqi, Special Envoy to the Chief Adviser and chair of the committee. “While external factors such as tariffs are beyond our control, we can immediately improve efficiency through better policies and procedures.”
Attendees included Ashik Chowdhury, Executive Chairman of BIDA, BEZA and the PPP Authority; Bangladesh Bank Governor Dr Ahsan H Mansur; Chittagong Port Authority Chairman Rear Admiral SM Moniruzzaman; along with secretaries and heads of key ministries and agencies.
Major initiatives discussed at the meeting include a tenfold increase in pre-arrival customs clearance, a unified online business start-up package, 24-hour digital payment services at Chittagong Port, and a fully automated bond management system. Officials also agreed on a multi-agency mechanism to ensure approved proposals are converted into actual investments.
The committee noted several recent successes: the National Single Window (NSW), launched by the National Board of Revenue, has already saved an estimated 1.2 million physical visits to government offices. Automated truck entry at Chittagong Port has cut entry times by at least 90 percent, while digital tracking and cashless payments have improved transparency. Investment promotion agencies—including BIDA, BEZA, BEPZA, and the High-Tech Park Authority are now jointly monitoring investment pipelines.
Despite progress, the committee flagged persistent issues. Some offices continue to maintain parallel offline processes due to weak monitoring and limited system adoption. Siddiqi cited the Bureau of Manpower, Employment and Training (BMET) as a model, noting its fully digital application and payment system supported by on-site help desks. The Chittagong Port Authority has implemented a similar “agent desk” to assist users transitioning online.
Immediate priorities include launching the Bangladesh Business Portal by BIDA and piloting the Automated Risk Management System (ARMS) at Chittagong Customs House to reduce physical inspections. Siddiqi emphasized expanding pre-arrival customs clearance, noting that less than 5 percent of cargo is currently cleared in advance, far below the 50 percent target.
The ICC’s action-oriented, data-driven approach was praised as a “stylistic reform” in government operations, prioritizing measurable results and effective execution. The meeting concluded with appreciation for the collaborative efforts and tangible outcomes achieved so far.
