The Board of Directors of Dhaka Chamber of Commerce & Industry (DCCI) led by its President Shams Mahmud called on Adviser to the Prime Minister on Private Industry and Investment Salman F. Rahman, MP today on 4 February, 2020.
DCCI President Shams Mahmud said that Bangladesh is now in 168th position in Ease of Doing Business Index. He thanked the Adviser for his concerted efforts to increase Bangladesh’s position in this index further. He also said in FY2018-19 foreign investment to Bangladesh reached USD 3.89 billion at a growth of 51 percent despite we are far behind than Vietnam and India. He also urged for reformation of Company Act incorporating liquidation, merger & acquisition, alternative dispute resolution, technology like e-voting, video conferencing etc. Shams Mahmud emphasized to replicate 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 for strengthening economic diplomacy with the Southeast Asian and African countries. He said by the year 2030 Bangladesh needs USD 320 billion alone for infrastructure sector and he suggested to include green field projects in the stock market. Under the initiative of DCCI, a Research & Innovation Platform (RnI Bangladesh) is going to be established and for this Shams Mahmud sought cooperation from the government.
Adviser to the Prime Minister on Private Sector Industry and Investment Salman F. Rahman, MP said government has taken various timely initiatives to uphold Bangladesh’s position in the ease of doing business index. But only reforms in policy measures are not adequate, rather if the business community get real benefit due to reforms would add value to increase Bangladesh’s position in the index, he informed. He also echoed with the Chamber leaders to reduce corporate tax rate with a view to increase investment in the country. 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. He appreciated the initiative of DCCI of establishing RnI Platform to do market-oriented research and assured all possible support 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.