Referring that the global trade is getting more competitive in the contemporary world, speakers at a virtual discussion meeting on Tuesday expressed that ease of doing business has become very important to reduce the cost of business.
Dhaka Chamber of Commerce & Industry (DCCI) organized the discussion meeting on the current reforms in the ease of doing business in Bangladesh and preparedness for the future.
Executive Chairman, BIDA Md. Sirazul Islam joined as the chief guest and Md. BillalHossain, Additional Secretary (Executive Member 5), BIDA joined as special guest.
Executive Chairman, BIDA, while addressing, said ease of doing business is a bigger thing. We do not like to mainly focus on scoring rather we are trying to create a business friendly environment.
“Some of the reforms have already been done by the government, for which BIDA is coordinating” he added.
He therefore requested the private sector to go through the reforms and report based on the real facts. BIDA needs to be strengthened more. If you have any observations on the reforms made, you can tell us. Company to company land transfer now can be done by 7 days, he informed.
He said there will be separate courts for dispute resolution under enforcing of contracts and alternative dispute resolution is also important.
DCCI President RizwanRahman in his remarks said that after successful economic graduation in 2026, Bangladesh will lose most of the preferential trade facilities which may hurt our competitive export market.
In this context, the ease of doing business is essential to reduce the cost of business as global trade is getting more competitive. Given this circumstances, it is the high time to redress the bottlenecks, reduce time, process and cost in all criteria of the Doing business and streamline the entire process towards lifting the indicators of the Index.
To make cross-border trade paperless with automated customs clearance for low-cost trade process, we need to fasten the Corrective Action plan (CAP) for implementing trade facilitation agreement (TFA).
Md. BillalHossain, Additional Secretary (Executive Member 5), BIDA said investors always want to know the ranking before any investment and in that context we need to improve in the ranking.
He requested the private sector to response the survey considering the reforms already done. For that he requested the businessmen to know about the reforms. At present 48 services are being given through the OSS and requested the businessmen to avail these services.
Jibon Krishna Saha Roy, Director, BIDA presented a power point where he highlighted the reforms already have been made by the government. Private sector needs to be aware of these reforms for their preparedness to response during the survey.
Asif Ibrahim, Chairman Chittagong Stock Exchange Ltd, Md. RashedulKarimMunna, Director, DCCI, Data Magfur, former Director, DCCI, M S Siddiqui, Member, DCCI and Kabir Ahmed, President, Bangladesh Freight Forwarders Association took part in the open discussion session.
They said that creating a real effective business friendly environment is more important than improving in the ranking of ease of doing business index.
DCCI Senior Vice President N K A Mobin, FCS, FCA gave the vote of thanks. DCCI Vice President MonowarHossain and members of the Board of Director were join at the virtual discussion programme.
