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The government has been working tirelessly to ease business for the Micro, Small, and Medium Enterprises (MSMEs), aiming to enable small and medium entrepreneurs to conduct business and trade without facing any barriers.
The State Minister for Commerce Ahasanul Islam Titu opined this during a seminar held on Tuesday at the FBCCI Icon in the capital.
The seminar was jointly organised by FBCCI, CPD and GIZ Bangladesh.
While delivering his speech as the chief guest, the State Minister for Commerce said the government is working to simplify the process so that small traders can operate their business without facing any hurdles.
He stressed the responsibility to ensure successful and smooth business ventures and highlighted the government's focus on creating market access opportunities for traders.
The minister laid special emphasis on ensuring an industrial and investment-friendly environment in the country to build a developed and smart Bangladesh by 2041.
For this, the Ministry of Commerce will work in coordination with all the stakeholders including FBCCI, the country's development organisations and academicians, he stated.
Appreciating the strong contribution of the private sector in the economic progress of the country, Titu said that if the entrepreneurs had not dared to take risks, such rapid economic growth in Bangladesh would not have been possible.
He put emphasis on business process re-engineering to meet future challenges including facing the challenges of LDC graduation and Fourth Industrial Revolution (4IR).
Earlier, while delivering his speech, FBCCI president Mr Mahbubul Alam said that Bangladesh has a special opportunity to establish itself as the business hub of the South Asia and ASEAN region.
Bangladesh now has a domestic market of 170 million, and eventually, the country will become the ninth-largest consumer market in the world by 2030, the FBCCI president said.
“As a result, both local and international investors are now looking for opportunities to set up their businesses in the country. So, it is high time for the government to make the process smooth and business-friendly,” Alam said.
Despite opportunities, businessmen face various domestic and international trade barriers, including regulatory issues, lengthy procedures, taxation complications, and financial instability. The FBCCI president urged the government to promptly address these issues.
While speaking as the special guest, executive chairman of BIDA, Mr Lokman Hossain Miah said that BIDA is working diligently to ensure a business-friendly environment in the country. Meanwhile, investors are getting more than 150 services from 38 agencies under one umbrella through the One Stop Service of BIDA.
The Deputy Head of Mission of the German Embassy in Dhaka, Mr Jan Janowski, spoke as a guest of honour at the seminar.
He expressed the hope that German investment would come here, highlighting the advantages and possibilities of investment in Bangladesh.
FBCCI panel advisor and the research director of the Centre for Policy Dialogue (CPD) Dr Khondaker Golam Moazzem presented the main article in the seminar.
His article suggests a rapid reduction in the length and complexity of obtaining and renewing licences for entrepreneurs while starting a business. To eliminate the complexity of renewing the certificate every year, he urged the government to take the initiative of giving the certificate for a period of three to five years.
Dr Moazzem emphasised making the licencing process completely digital to reduce the sufferings of the entrepreneurs.
FBCCI senior vice president Mr Md Amin Helaly conveyed the vote of thanks at the programme.
Among Others, the Panel Advisor of FBCCI Dr Mostafa Abid Khan (Former Member, Bangladesh Tariff Commission), Mr Ahsan Khan Chowdhury (Chairman of Pran RFL Group), Mohammad Muslim Chowdhury (Former Comptroller and Auditor General -CAG), Cluster Coordinator of GIZ Bangladesh Werner Lange, FBCCI Vice President Dr Joshoda Jibon Deb Nath, Mr Md Munir Hossain, FBCCI directors, business dignitaries, and govt officials were present at the programme.