The Companies Act, 1994 will be amended by actively consulting businesspeople and industrialists, as the government’s aim is to make doing business easier, more transparent, and investment-friendly, Commerce Minister Khandakar Abdul Muktadir said on Monday.
“Since businesspeople are the primary users of this law, it must be modernised based on their practical experiences, actual needs, and future demands,” Muktadir said.
He was speaking as the chief guest at a view-exchange meeting held at the FBCCI office in Dhaka’s Motijheel to discuss the draft of the “Companies Act, 1994 (Third Amendment-2026).”
FBCCI Administrator Md Fazlul Hoque presided over the meeting, which was attended by top representatives of various trade organisations and industrial sectors.
The commerce minister pointed out that there has been no major change to the Companies Act for a long time.
Meanwhile, massive changes have taken place in business operations, technology, investment structures, and the global trade system. Consequently, it is urgent to modernise the law to align it with current realities and international standards.
Stressing that the government does not want to rush the process of finalising the law, Muktadir said that since the law is being framed for businesses, subsequent decisions will prioritise stakeholder preparation and views.
A 30-day period has been given to businesses and relevant stakeholders to review the draft amendment and submit their feedback.
Muktadir assured that this time frame could be extended if necessary, though he urged business leaders to provide their recommendations quickly to help enact an effective and business-friendly law.
He added that effective companies acts from various countries would be reviewed to adopt relevant aspects for Bangladesh, particularly drawing from the experiences of countries that have simple business environments and investment-friendly systems.
Referring to LDC graduation and economic development, the commerce minister emphasised that there is no alternative to reform, noting that reforming the company law is a vital part of broader economic reforms.
Describing the private sector as one of the main driving forces of the country’s economy, he said that easing business procedures would boost investments, create new jobs, and accelerate overall economic growth.
He called upon the business community to provide responsible and realistic proposals, comparing Bangladesh’s context with the laws of other countries to ensure that the recommendations are consistent with domestic realities and help build a competitive business environment in the long term.
Earlier, Mohammad Mostafa Jamal Haider, director general (joint secretary) of Commerce Ministry’s Trade Organisations Wing, presented the draft proposal titled “Companies Act, 1994 (Third Amendment-2026)” in detail.
Barrister Nihad Kabir, former MCCI president, presented the keynote paper.
Among others, BGMEA President Mahmud Hasan Khan, BKMEA President Mohammad Hatem, DCCI President Taskeen Ahmed, BTMA President Shaukat Aziz Russell, Bangladesh Chamber of Industries (BCI) President Anwar-Ul Alam Chowdhury (Parvez), Managing Director of Apex Syed Nasim Manzur, BARVIDA President Abdul Haque, and Transcom Chief Executive Officer Simin Rahman, along with representatives from various business and industrial sectors, were present at the event.
