Bangladesh Commerce Minister Tipu Munshi has, reportedly, underlined the need for trade license for e-commerce businesses in the country (Bangladesh) while also maintaining that the Commerce Ministry will work to reduce the current minimum paid-up capital to 0.5 million from 2.5 million for the one-person company in the Companies Act (2nd Amendment) Bill, 2020, so as to allow more small businesses to take part in registration, and thus also enabling their formalisation.
This the Commerce Minister, reportedly, stated during a meeting with Abul Kasem Khan, Chairperson of BUILD (Business Initiative Leading Development).
Tipu Munshi further, reportedly, stated that this (e-commerce) high-potential sector was not getting promotion as expected since they need trade licenses while also adding that e-commerce should be automatically recognised as enterprises even as he went on to add that his ministry was already working towards speeding up introducing trade license so that e-commerce businesses could avail access to finance as well as other opportunities.
