Bangladesh's business startup environment remains highly challenging, with entrepreneurs facing cumbersome processes, harassment, and entrenched corruption, said BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun.

"Business registration is complex and requires visiting multiple offices, where many entrepreneurs face corruption and harassment," he said.

Chowdhury made the remarks at the inauguration of the 12th National SME Fair in Dhaka today.

"We are also trying to combat corruption; you can see the ongoing discussions around ports and logistics. Ultimately, the government cannot compromise on corruption," he said.

"If small entrepreneurs face corruption while trying to access government services, the business model simply does not work," he added.

With support from development partners, BIDA is working to bring registration, bank account opening, and all startup-related services into a single digital form, accessible through one website or app.

"Our goal is to launch this system sometime next year. We aim to digitise services as much as possible so that entrepreneurs no longer need to meet anyone in person," he added.

"You will go to a website or app, receive the service, and leave, without needing to know or interact with any government official. This will reduce corruption. We hope that by next year we can reach that stage."

Last week, BIDA launched a matchmaking portal on its website.

"Foreign investors often ask us to connect them with local partners, and local investors ask for foreign partners. This is difficult to manage manually," the BIDA executive chairman said.

"Now, investors can register on the platform with details about their business, land availability, and sectors of interest. Foreign investors will be able to find suitable local partners directly," he added.