Experts and business leaders on Sunday said that Bangladesh must align its policies to create a predictable, transparent, and investment-friendly business environment to remain competitive globally.
They emphasised that inconsistent and outdated policies are significant barriers to foreign direct investment and economic growth at a dialogue organised by the American Chamber of Commerce in Bangladesh.
The dialogue, titled 鈥楶olicy Alignment to Enhance the Trade and Investment Climate,鈥� was conducted at a hotel in the capital Dhaka.
The experts and business people present at the event noted that addressing these issues could unlock Bangladesh鈥檚 potential as a regional business hub.
Key discussions focused on simplifying tax regulations, improving infrastructure, and creating a more favorable climate for trade and investment.
Participants highlighted how policy misalignments often discourage foreign enterprises and proposed aligning fiscal, trade, and regulatory policies to attract international investors.
They also stressed the importance of digitalization and automation in business processes to enhance efficiency and transparency.
Finance adviser Salehuddin Ahmed highlighted the government鈥檚 commitment to fostering a conducive environment for FDI, emphasising that policy alignment is crucial.
鈥楽implifying processes and creating a predictable business environment will build investor confidence,鈥� he said.
He added that the government aims to make revenue collection and expenditure more rational while addressing broader economic challenges.
National Board of Revenue chairman Md Abdur Rahman Khan underscored ongoing tax reforms to attract investment and promote entrepreneurship.
He advocated for shifting the focus from customs revenue to sustainable taxation systems, stating, 鈥極ur efforts are aimed at easing the way of doing business while fostering long-term economic growth.鈥�
AmCham vice president Eric Walker emphasised the importance of improving Bangladesh鈥檚 business environment to enhance trade and investment.
He said, 鈥楤angladesh needs to focus on upgrading its infrastructure, aligning policies, and embracing global sustainability trends to remain competitive in the international market.鈥�
Centre for Policy Dialogue executive director Fahmida Khatun emphasised the need to revise policies, stabilize the exchange rate, and improve infrastructure as Bangladesh prepares for its LDC graduation.
She also urged the government to simplify tax structures to support businesses.
Other speakers stressed the importance of treating existing foreign investors equitably and seizing opportunities in the evolving global trade landscape.
They highlighted the growing need for digital payment solutions and proposed aligning tax return requirements with consumer credit limits to promote digital transactions.
The dialogue concluded with a call for greater collaboration between the government and the private sector to drive FDI and create a more competitive economy.
Ala Uddin Ahmad, director of Foreign Investors鈥� Chamber of Commerce and Industry and chief executive officer of MetLife Bangladesh, among others, was present in the dialogue.