The government has implemented a range of initiatives to revamp trade policies, upgrade ports, and expedite the movement of goods while enhancing digital infrastructure to boost the investment environment, as per an announcement by the Chief Adviser’s Office yesterday.
One of the actions involves the commerce ministry revising the import policy order within a fortnight to eliminate quotas on importing raw materials duty-free for fully export-oriented factories. Currently, exporters can import up to half the value of raw materials against confirmed export orders without any charges. After the revision, they will have the freedom to import raw materials without any restrictions.
The Chief Adviser’s Office stated that this reform is anticipated to reduce inventory costs significantly and improve competitiveness, potentially influencing exports positively.
Former director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Md Mohiuddin Rubel, expressed that this decision simplifies the handling of small, high-value, and urgent fast-fashion orders, leading to accelerated production and cost reduction. The move also allows foreign buyers supplying specialized raw materials to maintain required quality standards efficiently, thereby expediting order cycles.
Additionally, the announcement highlighted the recent launch of the Bangladesh Business Portal in September, serving as a unified online platform for investors. The portal integrates 29 government services into a single system to ensure data compatibility with the Bangladesh Single Window (BSW), Automated System for Customs Data (ASYCUDA), and Customs Bond Management System (CBMS) to facilitate international trade and transport operations.
This initiative aligns with Bangladesh’s broader digital governance strategy and addresses investor demands for reduced processing times and increased transparency, according to a press release following a meeting of the investment coordination committee led by Lutfey Siddiqi, special envoy on international affairs to the Chief Adviser.
Siddiqi emphasized the government’s commitment to progress with clarity, diligence, and transparency. Key officials including Bangladesh Bank Governor Ahsan H Mansur, Faiz Ahmad Taiyeb, special assistant to the Chief Adviser, Bangladesh Investment Development Authority (Bida) Executive Chairman Chowdhury Ashik Mahmud Bin Harun, National Board of Revenue (NBR) Chairman Abdur Rahman Khan, as well as secretaries and business representatives attended the meeting.
Efforts are underway to alleviate congestion and enhance cargo movement at Chattogram Port through the construction of the Laldia yard and Taltala container yard, with the latter’s 6.25-acre facility set to commence operations soon. To address the backlog of over 6,000 containers at the port, auctions for 403 containers have already taken place, and a committee is developing protocols for the disposal of hazardous goods.
The Chief Adviser’s Office disclosed that new scanner procurement guidelines now permit the port authority to acquire scanners based on NBR specifications. In response to private sector appeals, the central bank has introduced Real-Time Gross Settlement services at bank branches near ports, aiming for 24/7 availability to cater to international trade demands.
Furthermore, Bangladesh Bank is creating comprehensive documentation of payment procedures for export and import transactions, which will be digitally shared to clarify regulatory steps. The government has also streamlined business registration and licensing processes.