Govt sets 7-day deadline for all business approvals to boost investment

The government has announced a major reform initiative to ensure rapid service delivery to investors and businesses, under which all applicable services will be completed within a maximum of seven days after receipt of a complete application.

“To encourage private and foreign investment and make it easier to start a business, licensing procedures will be rationalised and a fully digital Single Window approval system will be introduced,” Finance Minister Amir Khosru Mahmud Chowdhury said. 

The announcement was made while Khosru  was placing the proposed national budget of around Tk 9.38 lakh crore for the FY27 at the Jatiya Sangsad on Thursday afternoon.

Under the new initiative, once a duly completed application is submitted through the proposed integrated system, concerned authorities will be required to process and deliver approvals, licenses, clearances, and related services within a strict seven-day timeframe. 

The measure is aimed at reducing bureaucratic delays and improving efficiency in service delivery.

The reform is expected to significantly enhance the ease of doing business by ensuring predictability, transparency, and speed in regulatory processes. 

It is also designed to boost private sector confidence and attract both domestic and foreign investment by eliminating prolonged waiting periods for approvals.