Prime Minister's adviser on Private Sector Industry and Investment Salman F. Rahman said the government has taken timely measures to improve Bangladesh's position in easing doing business index.
He made the observation when the directors of the Dhaka Chamber of Commerce and Industry (DCCI) led by its president Shams Mahmud met him at his office in the city on Tuesday.
DCCI Senior Vice President NKA Mobin, FCA, FCS, Vice President Mohammad Bashiruddin and members were among others on the delegation and took part in the discussion. Salman Rahman told business leaders that improving doing business is important to fetch more investment. But only policy reforms are not adequate, the reform must be focused to bring benefit to the business community by adding more value addition to measures to improve the doing business index, he informed.
He lent support to DCCI's demand for reducing corporate tax rate to give boost to investment. Salman said the garment sector now enjoys all facilities like back to back LC but bonded warehouse facility should also be given to other potential sectors like agriculture, leather, ICT, pharmaceuticals etc to expedite their rapid growth.
He appreciated DCCI's initiative of establishing the RnI Platform to conduct market research and assured all possible government support for it.
Referring to Bangladesh's ease of doing business position at 168th globally DCCI President Shams Mahmud emphasized the need for doing more to steadily bring it upward. He appreciated the efforts made by the adviser to improve the country position.
He also said in FY2018-19 foreign investment to Bangladesh grew by 51 percent to hit at USD 3.89 billion despite the country was far behind Vietnam and India. He suggested reform in Company Act providing with liquidation, merger, acquisition, alternative dispute resolution, technology like e-voting, video conferencing etc to bring it par with international standard.
Shams Mahmud emphasized to replicate RMG Success Model to other sectors like leather and leather products, ship building, jute and Jute products, agro-processing and light engineering. He also suggested strengthening economic diplomacy globally and with Southeast Asian and African countries in particular in this respect.
He said by the year 2030 Bangladesh needs USD 320 billion alone for infrastructure sector development and suggested incorporating green field projects in the stock market. He said DCCI's Research and Innovation Platform will conduct business development studies and sought government cooperation in this regard.