The Financial Express

'Policy reforms meaningful if business community gets real benefits'

FE ONLINE REPORT | Published: February 04, 2020 19:24:53 | Updated: February 07, 2020 10:50:32

'Policy reforms meaningful if business community gets real benefits'

If the business community gets real benefits due to policy reforms, then the government’s initiatives to uphold Bangladesh’s position in the ease of doing business index would add value.

Adviser to the Prime Minister on Private Industry and Investment Salman F. Rahman came up with the view on Tuesday.  

His comments came at a function when the Board of Directors of Dhaka Chamber of Commerce & Industry (DCCI) led by its President Shams Mahmud called on the Prime Minister’s adviser in the city.

Mr Rahman also stated that said the facilities given to RMG sector should be ensured for other potential sectors as well for them to grow more.

He said “All the facilities currently enjoyed by the RMG sector like back to back LC, bonded warehouse should also be given to other potential sectors like agriculture, leather, ICT, pharmaceuticals etc. to facilitate them to grow more”.

The PM’s advisor also echoed with the chamber leaders to reduce corporate tax rate with a view to increase investment in the country.

He appreciated the initiative of DCCI of establishing Research & Innovation Platform (RnI) Platform to do market-oriented research and assured all possible support from the government.

DCCI President Shams Mahmud, mentioning that Bangladesh is now in 168th position in Ease of Doing Business Index, thanked Mr Rahman for his concerted efforts to increase Bangladesh’s position in the index.

He also said in FY18-19, foreign investment to Bangladesh reached $3.89 billion at a growth of 51 per cent despite being far behind than Vietnam and India.

The DCCI president also urged for reformation of Company Act incorporating liquidation, merger & acquisition, alternative dispute resolution, technology like e-voting, video conferencing etc.

Shams Mahmud emphasised replicating RMG Success Model to other sectors like leather & leather products, ship building, jute & Jute products, agro-processing and light engineering.

To facilitate export he urged strengthening economic diplomacy with the Southeast Asian and African countries.

He said by the year 2030 Bangladesh needs $ 320 billion alone for infrastructure sector and he suggested inclusion of green field projects in the stock market.

Under the initiative of DCCI, RnI Bangladesh is going to be established and for this Shams Mahmud sought cooperation from the government.

DCCI Senior Vice President NKA Mobin, FCA, FCS, Vice President Mohammad Bashiruddin and members of the Board of Directors were also present during the meeting.


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