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Govt Committed to Reforms for a More Investment-Friendly Environ: Adviser
Sk. Bashir Uddin, Adviser to the Ministry of Commerce, reaffirmed the interim government’s dedication to fostering a more investment-friendly environment in Bangladesh. He emphasized the government’s focus on regulatory reforms and infrastructure development to boost economic growth and attract investment.
Addressing a dialogue organized by the American Chamber of Commerce in Bangladesh (AmCham) on Monday (Feb. 24) at the Sheraton Hotel, Banani, Uddin urged businesses to focus on their present operations rather than being distracted by future uncertainties, which, he noted, are hampering economic growth.
The Commerce Adviser assured that the government is actively working to address key challenges, including inflation and law and order issues, to stabilize the economy. He underscored the significance of public-private collaboration in simplifying business regulations, enhancing logistics, and ensuring consistent policies to attract both domestic and foreign investors.
Uddin also acknowledged industry concerns about tax policies, energy security, and bureaucratic inefficiencies, confirming that reforms to tackle these issues are already in progress.
Zakat Crucial for Establishing Social Justice, Adds Commerce Adviser
AmCham President Syed Ershad Ahmed, in his address, called for greater business consultations and policy adjustments to boost trade and investment. He recommended that the National Board of Revenue (NBR) establish distinct wings for policy formulation and implementation. He also emphasized the need for customs automation, improved cargo facilitation, and reduced bureaucratic hurdles to streamline trade processes.
Ahmed further highlighted the importance of expanding export markets through research and development (R&D) and training, instead of solely relying on trade fairs, to diversify Bangladesh's trade relationships.
The event also saw participation from AmCham Treasurer Al-Mamun M Rashel, John Fay, Commercial Counselor at the U.S. Embassy Dhaka, as well as representatives from leading global and local businesses such as Citi N.A., VISA & MasterCard, HSBC, Philip Morris, RBD Fibers Limited, MetLife, Chevron, Avery Dennison, BAT, Coca-Cola, PepsiCo, GE, BanglaTrac, and many other prominent investors from both the local and international business communities.
Commerce Adviser Bashir Uddin