PM for easing project approval process to draw investment
Prime Minister Tarique Rahman has asked the concerned authorities to ease project approval process to attract local and foreign investors.
At the same time, he assured of providing necessary cooperation to those who sincerely want to invest in government-run factories that have been closed for long time.
The Prime Minister said this at a meeting at Prime Minister’s Office in the Cabinet Division at Bangladesh Secretariat here today.
The meeting was held with officials of the ministries and departments concerned to discuss the present status of the closed factories under the Textiles and Jute Ministry and what steps need to be taken to reopen those, according to the Prime Minister’s Press Wing.
In the meeting, Tarique Rahman mentioned that the government is committed to creating an investment-friendly environment in the country.
To achieve this goal, he said, it is important to remove the existing complications in the investment process.
A senior official present at the meeting said it takes a long time to get final approval of any project, which reduces the interest of local and foreign investors.
In addition, he said, the complexities in obtaining permission from various departments are also a major obstacle.
In this context, the Prime Minister directed the authorities concerned to make the project approval process simple and time befitting.
He said approval of the ministries or departments, whose approval is not necessary, should be excluded from the process.
The premier also stressed facilitating access to loans to increase private investment in closed government factories.
He also directed the ministers concerned to take immediate steps in this regard.
Commerce, Industry, Textiles and Jute Minister Khandaker Abdul Muktadir Chowdhury, the Prime Minister’s Political and Industrial Adviser Ruhul Kabir Rizvi, Finance and Planning Adviser Dr Rashed Al Mahmud Titumir, State Minister for Textiles and Jute Shariful Alam, Principal Secretary to the Prime Minister ABM Abdus Sattar, Executive Chairman of Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun , Chairman of Bangladesh Textile Mills Corporation (BTMC) Brigadier General SM Zahid Hassan and Chairman of Bangladesh Jute Mills Corporation (BJMC) Brigadier General Md. Kabir Uddin Sikder were present, among others.
