The government has taken steps to ease the process of doing business in an effort to jumpstart the stagnant investment situation.

By the end of this month, a roadmap will be finalised for every government agency, which would specify how many days it would take an investor to start his/her business, get the relevant permits and electricity connection.

“We will start implementing the plan of action from the first day of February,” said Kazi M Aminul Islam, executive chairman of Bangladesh Investment Development Authority or BIDA at a press conference held at the capital's Sonargaon Hotel.

BIDA organised the briefing after a review meeting on the plan of action with senior officials of agencies under various ministries.

Through improving the investment climate, the government wants to send a positive message to investors, Islam said.

The move is expected to help in moving the country's ranking to double digits from its existing position of 176.

Bangladesh moved two notches up to 176 in the World Bank's Doing Business 2017 report. However, its position in terms of starting a business dropped seven notches to 122 this year.

It takes 19.5 days to complete procedures for starting a business in Bangladesh, which is higher than the South Asian average of 15.4 days, according to the report.

Bangladesh's ranking in terms of getting electricity connection remained unchanged, with businesses requiring 404 days -- much higher than the South Asian average. It takes 244 days to register property in Bangladesh.

Abul Kalam Azad, principal coordinator of sustainable development goals affairs at the Prime Minister's Office, said the government aims to reduce the time cost for starting a business.

The government will build 100 economic zones and many hi-tech parks. To attract investments, it is necessary to improve climate, he said.

As many as 10 areas ranging from investment permit, land purchase and registration, environmental clearance, loan and tax issues, utility connections as well as transportation and shipping were identified that have ample scope for improvement.

Some 18 ministries are working to identify areas in order to ensure quick services to investors.

About the much discussed issue of getting new electricity lines, Azad said the Power Division plans to provide connections in 60 days.

Md Eunusur Rahman, secretary of Bank and Financial Institutions Division, and Md Nojibur Rahman, chairman of the National Board of Revenue, were also present at the briefing.