The Board of Directors of Dhaka Chamber of Commerce & Industry (DCCI) led by its President AbulKasem Khan called on Executive Chairman of Bangladesh Investment Development Authority (BIDA) Kazi M. Aminul Islam on 24 January 2018 at BIDA headquarter in Agargaon.
DCCI President AbulKasem Khan said that we need to come out from the stagnant situationin investment both local and foreign. The private investment needs to be scaled-up to 29% from current level of 22.5%, he said. In order to improve the ranking of Bangladesh with the view to attract private investment and facilitate industrialization, we need to improve our infrastructure, industrial energy situation, efficiency in the institutional framework and skill human resources, he opined. He also said that BIDA needs to effectively introduce integrated one stop service, equipped with skilled and expert human resources to give the feel the prospective investors that the business process in Bangladesh is eased and simple. A national strategy prioritizing the sector, manufacturing and industrial projects needs to be developed for FDI promotion.In this connection, an FDI promotion task force may be formed under BIDA in collaboration with private sector representatives including Chamber of Commerce.DCCI President also calls upon the government to declare 2019 to 2021 as ‘The Infrastructure Year’.He said in order to develop the EZ in planned time and offset the risk of time overrun, a tripartite coordination among BEZA, PPP office and BIDA needs to be developed. He informed that DCCI is going to form a high powered and patent registered platform named Research & Innovation (RNI) Bangladesh Forum with leading sectoral economists/Experts of Bangladesh to provide with thought provoking futuristic economic insights, guidance.
Executive Chairman of BIDA Kazi M. Aminul Islam said that the financial sector of Bangladesh needs more innovation and reforms. He also opined thatfor Venture Capital, Private Equity and Angel Investment, the entrepreneurs of these sector should get five year tax free incentives. He also opined that our tax system and regime should be based on fairness to ensure a level playing field. He also stressed on skill development of our local human resources as he said that Bangladesh has to spend about US$5 billion as salary as outward remittance. He said we need to enhance our business-friendly environment within the country to attract FDI as well as local investment. He also emphasized for public private joint and effective collaboration as our future business will be dependent mostly on research and innovation.
Senior Vice President of DCCI Kamrul Islam, FCA, Vice President Riyadh Hossain, Directors Engr. Akber Hakim, AndaleebHasan, Engr. Md. Al Amin, SM Zillur Rahman and Waqar Ahmad Choudhury were also present during the meeting.