Dec 06, 2020
NCMID is chaired by the Cabinet Secretary Khandker Anwarul Islam, who has been expediting crucial reforms for improving Bangladesh’s business climate. During the meeting, NCMID members - the ministries, departments and agencies – talked about their efforts to speed up and simplify procedures for investors.
In a landmark move, time needed for land mutation has been reduced to 7 days. The two-tier process for providing electricity connections in 7 days has been initiated. Faster digitisation of G2B services and integration with BIDA’s One Stop Service for simplified starting of business was also a major focus.
Trade licence, electricity connections can soon be obtained through the OSS. The draft Secured Transaction Act was discussed, which is set to establish a Moveable Collateral Registry. Several more reforms under various Doing Business Indicators were discussed in the meeting. Officials of IFC, which provides technical assistance to BIDA, were present in the meeting.