IMPROVING EASE OF DOING BUSINESS

BIDA chief says Bangladesh to ‘adopt’ good practices of S’pore

Staff Correspondent | Published: 23:14, Aug 08,2017

 
 

Bangladesh Investment Development Authority executive chairman Kazi M Aminul Islam speaks at a press briefing arranged by the BIDA in a city hotel on Tuesday. Dhaka Chamber of Commerce and Industry president Abul Kasem Khan and former Metropolitan Chamber of Commerce and Industry president Syed Nasim Manzur were present, among others. — New Age photo

Bangladesh government agencies will try to adopt best practices of Singapore with a view to improve in ease of doing business index and to attain higher foreign investment in the country, said Bangladesh Investment Development Authority executive chairman Kazi M Aminul Islam.
He came up with the statement at a press briefing organised by BIDA held at a city hotel on Tuesday.
The BIDA executive chairman had led a 30 member delegation to Singapore attending a business-to-business conference senior executives of Singaporean and Japanese companies.
Besides, the delegation also held meetings with key government agencies of Singapore including Inland Revenue Authority of Singapore, Monetary Authority of Singapore, International Enterprise Singapore, Economic Development Board of Singapore and Singapore Business Federation.
At the briefing, the BIDA executive chairman said, ‘Singapore is the number one country in terms of ease of doing business and Bangladesh has a lot more to learn from them as we have initiated to bring down our ranking to double digit from 189 within next five years.’
He said that the delegation visited Singapore Economic Development Board and Monetary Authority of Singapore and other organizations for better understanding of the financial and economic system of the country.
He said that the visit also focused Japanese business people following an extremists’ attack on Holy Artisan café in Dhaka last year where some Japanese people were victims.
There were initiatives to develop Bangladesh’s trilateral relations with other countries along with Singapore, the BIDA executive chairman said.
‘We visited Singapore to witness the good practices of the country’s public and private organizations,’ said SDG affairs chief coordinator Abul Kalam Azad.
‘We saw how Singapore is doing so well in terms of doing business so that we can emulate their best practices in Bangladesh,’ he said.
Former Metropolitan Chamber of Commerce and Industry president Syed Nasim Manzur said that the delegation tried to attract Japanese investment in Bangladesh and it was the first such attempt after the Holey Artisan attack in Dhaka.
JETRO officials attending the conference said that the existing Japanese firms will increase recruitment of Bangladeshis gradually. Bangladesh is among the 13 countries where Japanese are willing to invest, they were quoted to have told the Bangladesh delegation.
Dhaka Chamber of Commerce and Industry president Abul Kasem Khan said that proper initiative would help Bangladesh to attain $2 billion Japanese investment out of their total $ 20 billion investment in ASEAN-6 as 56 per cent of the Japanese investors are concern due to wage increase in the ASEAN-6 countries. 

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