Bureaucratic hurdles slowing investment: Mirza Fakhrul

Investment in Bangladesh is being hindered by bureaucratic complexities and the slow pace of government agencies, said Local Government, Rural Development and Co-operatives Minister and BNP Secretary General Mirza Fakhrul Islam Alamgir.
He said such challenges are discouraging investors and holding back the business environment from reaching expected standards. Fakhrul made the remarks on Wednesday while speaking to journalists after attending a dialogue titled 
“COMPASS Dialogue, Chapter 1: The Western Calibration”, organised by the Institute of Strategy and Tactics Research (ISTR) in Banani.
He stressed the need for administrative reform to improve the investment climate, warning that economic progress would remain constrained without a business-friendly environment.
Fakhrul said the government has undertaken initiatives such as family cards, farmer cards and agricultural support programmes, which have created some optimism among the public.
Highlighting the energy sector, he said efforts are underway to expand renewable energy, while onshore and offshore exploration for gas and oil has begun, with tenders expected soon. He also underscored the need to utilise the country’s large population for economic growth and said political stability would help attract investment and create jobs.
At the dialogue, he emphasised ensuring security in the Bay of Bengal, strengthening regional ties and resolving the Rohingya crisis. He added that the government is keen to maintain stable relations with neighbouring countries.
Prime Minister’s Adviser Mahdi Amin, speaking after the event, said fuel prices in Bangladesh remain relatively controlled compared to other countries despite global market volatility.
He said the government managed initial challenges in the energy sector through consultations with local and international experts, negotiations and alternative sourcing, ensuring stable supply.
Mahdi Amin said the government has taken steps to implement its election commitments and is working in line with public expectations. He added that discussions are ongoing at the Deputy Commissioners’ Conference to ensure effective policy implementation at the field level. He also noted increased parliamentary activity and said governance is being guided by democratic values, rule of law and freedom of expression.