Dhaka, April 29 -- Bangladesh plans to bring bank lending rates down to a single digit to create a more investment-friendly environment in the country, Commerce Minister Khandakar Abdul Muktadir has said.

He also announced initiatives to simplify the business licensing process, including issuing provisional licences upon application, as well as plans to increase gas supply by setting up new floating storage and regasification units (FSRU).

Speaking at the inauguration of a four-day exhibition at the International Convention City Bashundhara (ICCB) in Dhaka on Wednesday, the minister said interest rates of 13 to 14 percent make it impossible for industries such as textiles to survive.

"Such interest rates may be tolerable for high-tech ...