by Apparel Resources News-Desk
07-December-2018 | 2 mins read
The long-standing demand of the export-oriented business especially the RMG sector to ease the import and export procedures to give a boost to trade and economy, seems to have moved the Bangladesh Government after the Finance Minister AMA Muhith recently underlined that cumbersome customs procedure remained one of the main challenges for easing the process of doing business in the country.
“Customs procedure is an area where we are severely lagging behind. The process of releasing imported goods from the ports still remains highly inefficient…This is an area where we need to focus on.” – AMA Muhith, Finance Minister, Bangladesh
It may be mentioned here that garment manufacturers often have to encounter delays in getting the imported raw materials released from the ports, which leads to prolonged lead time and consequent business loss.
Earlier, taking part in the discussion, Executive Chairman of Bangladesh Investment Development Authority (BIDA) Kazi M Aminul Islam reportedly underlined that the long-awaited One Stop Service (OSS) scheme will be operational in the country by January next year, which will help towards achieving business ease while also decreasing the time consumed in customs procedures.
“We are already experimenting with the prototype of the OSS. Hopefully, the scheme will be in place by January and will greatly ease the process of doing business…We need to reduce the number of processes to 5 from 9 while the time taken for the processes needs to be reduced to 4.5 days from 19.5 days.” – Kazi M Aminul Islam, Executive Chairman, Bangladesh Investment Development Authority (BIDA)