Business

Ensure predictability in licensing and tax measures

Multinationals urge govt
licensing and tax reforms needed for foreign investment
Over a dozen chief executive officers, managing directors, and country heads from multinational companies in Bangladesh called on Chief Adviser Prof Mohammad Yunus at the Jamuna State Guest House yesterday. The chief adviser asked executives to work with the government as a team and to always maintain transparency while the executives sought measures to enhance the ease of doing business. Photo: PID

Top executives of multinational companies in Bangladesh yesterday urged the interim government to ensure predictability in licensing and tax measures and bring about improvements in the ease of doing business to attract foreign direct investment.

They also sought comprehensive facilities under Bangladesh Investment Development Authority's (Bida) One Stop Service portal and measures to improve the country's credit rating.

Over a dozen chief executive officers, managing directors, and country heads made the requests while calling on Chief Adviser to the interim government Prof Muhammad Yunus at State Guest House Jamuna.

The meeting was aimed at discussing business and investment opportunities, according to a press statement from the chief adviser's office.

The executives lauded the government's initiatives towards labour rights reforms and assured of providing all types of support.

Yunus urged the executives to collaborate with the government in promoting Bangladesh before potential investors and increase business opportunities.

"As a team, we have to work together. We are a team for the country. Be the brand ambassadors of the country, and it will encourage potential investors to come to Bangladesh," he said.

He also asked the executives to maintain transparency in businesses. "Help us identify issues and challenges so that we can address them," he said.

Lutfey Siddiqi, special envoy to the chief adviser on international affairs, termed the CEOs as the standard bearers in business. "There was a trust deficit in the past. We need to bridge that," he said.

Chowdhury Ashik Mahmud Bin Harun, executive chairman of Bida and Bangladesh Economic Zones Authority, said they were introducing relationship managers at the Bida to ensure smooth services.

He added that he and Siddiqi would travel to Singapore next month to hold discussions with rating agencies.

Abdur Rahman Khan, chairman of the National Board of Revenue, spoke about the launch of a "National Single Window", which promises to provide a significant boost to the ease of doing business.

The user-friendly, electronic system streamlines and automates procedures for international trade-related permits, licences, certificates and customs declarations, said the NBR.

Zaved Akhtar, chairman and managing director of Unilever Bangladesh, Eric M Walker, managing director of Chevron Bangladesh, Yasir Azman, CEO of Grameenphone, and Md Mahbub ur Rahman, CEO of The Hongkong & Shanghai Banking Corporation in Bangladesh, were present.

Others present included Muhammad Alauddin Ahmad, CEO of MetLife Bangladesh, Abdur Rashid, country managing director of SGS Bangladesh, MHM Fairoz, managing director and CEO of Singer Bangladesh, and Najith Meewanage, CEO of the Commercial Bank of Ceylon.

Rubaba Dowla, country managing director of Oracle Bangladesh, Manabu Sugawara, country head of Marubeni Corporation, Faisal Ahmed Chowdhury, chairman of Baraka Power, Mohammad Iqbal Chowdhury, CEO of LafargeHolcim Bangladesh, Md Miarul Haque, managing director of DHL Worldwide Express Bangladesh Private, and Sumitava Basu, country head of Marico Bangladesh, were also present. 

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Ensure predictability in licensing and tax measures

Multinationals urge govt
licensing and tax reforms needed for foreign investment
Over a dozen chief executive officers, managing directors, and country heads from multinational companies in Bangladesh called on Chief Adviser Prof Mohammad Yunus at the Jamuna State Guest House yesterday. The chief adviser asked executives to work with the government as a team and to always maintain transparency while the executives sought measures to enhance the ease of doing business. Photo: PID

Top executives of multinational companies in Bangladesh yesterday urged the interim government to ensure predictability in licensing and tax measures and bring about improvements in the ease of doing business to attract foreign direct investment.

They also sought comprehensive facilities under Bangladesh Investment Development Authority's (Bida) One Stop Service portal and measures to improve the country's credit rating.

Over a dozen chief executive officers, managing directors, and country heads made the requests while calling on Chief Adviser to the interim government Prof Muhammad Yunus at State Guest House Jamuna.

The meeting was aimed at discussing business and investment opportunities, according to a press statement from the chief adviser's office.

The executives lauded the government's initiatives towards labour rights reforms and assured of providing all types of support.

Yunus urged the executives to collaborate with the government in promoting Bangladesh before potential investors and increase business opportunities.

"As a team, we have to work together. We are a team for the country. Be the brand ambassadors of the country, and it will encourage potential investors to come to Bangladesh," he said.

He also asked the executives to maintain transparency in businesses. "Help us identify issues and challenges so that we can address them," he said.

Lutfey Siddiqi, special envoy to the chief adviser on international affairs, termed the CEOs as the standard bearers in business. "There was a trust deficit in the past. We need to bridge that," he said.

Chowdhury Ashik Mahmud Bin Harun, executive chairman of Bida and Bangladesh Economic Zones Authority, said they were introducing relationship managers at the Bida to ensure smooth services.

He added that he and Siddiqi would travel to Singapore next month to hold discussions with rating agencies.

Abdur Rahman Khan, chairman of the National Board of Revenue, spoke about the launch of a "National Single Window", which promises to provide a significant boost to the ease of doing business.

The user-friendly, electronic system streamlines and automates procedures for international trade-related permits, licences, certificates and customs declarations, said the NBR.

Zaved Akhtar, chairman and managing director of Unilever Bangladesh, Eric M Walker, managing director of Chevron Bangladesh, Yasir Azman, CEO of Grameenphone, and Md Mahbub ur Rahman, CEO of The Hongkong & Shanghai Banking Corporation in Bangladesh, were present.

Others present included Muhammad Alauddin Ahmad, CEO of MetLife Bangladesh, Abdur Rashid, country managing director of SGS Bangladesh, MHM Fairoz, managing director and CEO of Singer Bangladesh, and Najith Meewanage, CEO of the Commercial Bank of Ceylon.

Rubaba Dowla, country managing director of Oracle Bangladesh, Manabu Sugawara, country head of Marubeni Corporation, Faisal Ahmed Chowdhury, chairman of Baraka Power, Mohammad Iqbal Chowdhury, CEO of LafargeHolcim Bangladesh, Md Miarul Haque, managing director of DHL Worldwide Express Bangladesh Private, and Sumitava Basu, country head of Marico Bangladesh, were also present. 

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