Dhaka, May 7 -- Commerce Minister Khandakar Abdul Muktadir on Thursday stressed the need to cut bureaucratic red tape, reduce logistics costs, improve port efficiency and unlock idle state-owned assets to make Bangladesh competitive in tomorrow's global economy.

"We cannot move forward by dwelling on old problems. The time has come for pragmatic reforms and swift implementation of commitments," Muktadir said while addressing the inauguration of the 'Dhaka Industrial Packaging Expo 2026' at the Bangladesh-China Friendship Convention Centre in the capital.

The minister said entrepreneurs currently need 25 to 26 separate approvals and licences to start a business in Bangladesh, making the investment environment unnecessarily cumbersome. "T...