BBF places 100 recommendations for boosting trade, investment
Friday, 25 April 2008

Bangladesh Better Business Forum (BBF), a high-profile government-businesspeople platform, Wednesday elaborately discussed over 100 recommendations for improving business and investment atmosphere to attain desired economic growth, reports UNB.

The recently formed Forum in its third meeting with its chairperson Chief Adviser Dr Fakhruddin Ahmed in the chair at the CA''s office discussed the recommendations placed by five thematic working groups of the BBBF after working out those in 23 meetings.

The recommendations were categorized for their quick, efficient and effective implementation in specific time. They were categorized mainly in three groups-- matter for immediate action which would be implemented immediately, matters for short-term action which would be implemented within next one to two months and matters for midterm action which would be implemented within four to six months.

Management and financing of Small and Medium Enterprise (SME) for its overall development and development of ICT sector figure prominently in the immediate-action recommendations. Recommendations covered in short-term action group include expansion of TAX Holiday, providing tax facility, simplification of company registration, trade license, VAT and environment certificates, reduction of bank interest and development of work efficiency.

Maximum of these dos will be addressed in the coming budget. Other recommendations would be placed in the next meeting of BBF to make those implementation-worthy after refining those in the working groups. The BBBF hopes that if these decisions are implemented, it will have positive impacts on overall business and investment in next two to three months.

"As a result, country rating regarding business will be improved and overall image of the country enhanced," the meeting was told. Chief Adviser Dr Fakhruddin directed the Ministries, departments and organiza-tions concerned to implement those recommendations on priority basis. "Necessary monitoring and evaluation would be carried out to supervise whether the decisions are being implemented," he said.

The Chief Adviser thanked the thematic working groups for their efforts put in preparing the recommendations. Bangladesh Bank, NBR, Registrar of Joint Stock Company, City Corporation and BTRC would implement their relevant decisions, according to BOI executive chairman Kamal Uddin Ahmed, also member- secretary to BBBF.

The meeting observed that the activity of BBBF is a continuous process as business and investment is an ongoing concern. The thematic working groups would keep up their activities according to their working areas and would present recommendations to the Better Business Forum regularly.

The next meeting of BBBF would be held at the end of next month to review the latest developments, according to Chief Adviser''s Press Secretary Syed Fahim Munaim, who was present at the meeting. Finance Adviser, Law Adviser, Special Assistant to the Chief Adviser for Industries Ministry, Special Assistant to Chief Adviser for Power and Energy Ministry, Cabinet Secretary, Principal Staff Officer of the Armed Forces Division, BOI chairman, BTRC chairman, chairmen and cochairmen of the five thematic working groups, business representatives and secretaries concerned were present at the meeting.

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