Ensure coordination among govt departments

The government’s investment promotion agency should ensure prompt response to the queries of the business community and well-coordinated decisions across all departments, a top chamber said yesterday.

The Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) also suggested Bangladesh Investment Development Authority (Bida) form a task force which would frequently interact with the private sector and potential investors.

The suggestions came at a luncheon meeting organised by the chamber in honour of the newly-appointed executive chairman of Bida, Md Sirazul Islam, at MCCI’s Gulshan office in Dhaka MCCI President Nihad Kabir applauded the efforts the Bida took to boost investment in the country, according to a press release of the chamber.

She also stressed the need for increasing the number of private sector representatives in the Bida governing body.

Kabir assured the state agency of providing wholehearted support for all activities geared towards boosting investment in the country.

Md Sirazul Islam, executive chairman of the investment promotion agency, said the current age of fourth industrial revolution demands updating the rules and regulations accordingly, and one of the Bida’s mandates is to bring in policy changes, if required.

He said he would emphasise on working towards reducing the cost of doing business.

Islam sought support and cooperation in improving the investment scenario, according to the statement.

Some other topics which were raised during the discussion were the reduction in time at the airports for on-arrival visas, the competition that Bangladesh is to face in the future and the coordination among various government departments recognising local investors for their contributions.