Dhaka Chamber of Commerce and Industry president Rizwan Rahman on Saturday urged the government to slash the corporate tax rate and to strengthen economic diplomacy to attract foreign direct investment amid the COVID-19 outbreak situation.
‘We may not see a robust FDI improvement overnight in this situation but the government may consider to facilitate home-grown local investors by giving them same incentives that a foreign investor enjoys,’ he said at a meet-the-press programme held at the DCCI conference room in the capital, Dhaka.
At the programme, the newly elected DCCI president presented the vision of policy advocacy of the trade body for the year 2021 and said that the regulatory reforms and reforms in policy framework could help Bangladesh to improve its position in various global competitive indices.
Rizwan informed that the chamber had a plan to hold DCCI Investment Summit in the Asian region in 2021 to commemorate the birth centenary of the country’s founding president, Sheikh Mujibur Rahman, and the golden jubilee of the independence of Bangladesh.
He proposed establishing a SME bond or specialised SME Bank to safeguard the cottage, micro, small and medium enterprises in the country and said that access to finance was one of the largest challenges for the CMSMEs.
Rizwan outlined the need for product and market diversification saying that Bangladesh was reviving its economy while Europe was still in shambles.
‘So we may look to the East and Asian region for greater tie-up,’ he said.
The DCCI president said that Bangladesh would have to improve its position in the global competitiveness indices to remain competitive on the global market after its graduation from the least developed country status.
Some of the facilities that Bangladesh is enjoying because of being an LDC country would no longer be available after the graduation, he said.
‘It is inevitable, today or tomorrow we will be out of LDC, but for that we have to be prepared,’ Rizwan added.
DCCI senior vice-president NKA Mobin, vice-president Monowar Hossain and directors Md Shahid Hossain, Golam Zilani, Hossain A Sikder and Nasiruddin A Ferdous were also present in the programme.
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