Dhaka, May 04 (V7N)- Prime Minister Tarique Rahman has directed authorities to simplify the project approval process in order to attract both domestic and foreign investment. He also assured government support for investors genuinely interested in reopening long-closed state-owned factories.

The directives came during a meeting held at the Prime Minister’s Office in the Cabinet Division of the Secretariat on Monday (May 4). The meeting reviewed the current condition of closed factories under the Ministry of Textiles and Jute and discussed necessary measures for their revival.

The Prime Minister said the government is committed to creating an investment-friendly environment and emphasized that removing unnecessary bureaucratic complexities is essential to achieving that goal.

He instructed that ministries or departments whose approval is not essential should be removed from the approval process to accelerate investment activities.

Tarique Rahman also stressed the importance of ensuring easier access to credit facilities to encourage private investment in closed government-owned mills and factories. He directed the relevant ministries to take immediate and effective initiatives in this regard.

The meeting was attended by Commerce, Industry, Textiles and Jute Minister Khandaker Abdul Muktadir Chowdhury, Political and Industrial Adviser to the Prime Minister Ruhul Kabir Rizvi, Finance and Planning Adviser Dr. Rashed Al Mahmud Titumir, and State Minister for Textiles and Jute Shariful Alam.

Also present were Principal Secretary to the Prime Minister ABM Abdus Sattar, Executive Chairman of Bangladesh Investment Development Authority (BIDA) Ashiq Chowdhury, Chairman of Bangladesh Textile Mills Corporation (BTMC) Brigadier General SM Zahid Hasan, Chairman of Bangladesh Jute Mills Corporation (BJMC) Kabir Uddin Sikder, along with other senior officials.

The government hopes that the proposed reforms and easier investment procedures will help revive idle industries and boost employment and economic growth.

END/SMA/AJ