FE Today Logo

Govt deems forum for policy talks with foreign investors

PM's principal secy tells FICCI

FE Report | July 31, 2018 00:00:00

The government would consider forming a separate platform for policy dialogues with foreign investors, said Md Nojibur Rahman, Principal Secretary to the Prime Minister.

"Currently, we have a platform for public-private dialogue, called Business Initiative Leading Development or BUILD."

"However, I would be negotiating with my partners in BUILD to create another such forum for the foreign investors in the country," said Mr. Rahman, who is also the chairman of the aforementioned platform.

He said these while speaking at a meeting of the Foreign Investors' Chamber of Commerce and Industry (FICCI) in the capital on Sunday.

The principal secretary's remarks came when FICCI President Shehzad Munim noted that there is a lack of policy dialogue between the government and the foreign investors.

"Very few policies and regulations are introduced in the country following enough dialogues with the foreign investors," Mr Munim said.

He also noted that the leading businesses are often getting entangled in legal disputes, which is impending their smooth operations.

"The business chambers like FICCI have a role to play in resolving these issues in an amicable manner, and of course we can do it."

"But, there is no significant platform in the country that can actually get into a dialogue or dispute resolution," he added.

Reflecting on the issue of legal disputes, the principal secretary called for increased use of alternative dispute resolution (ADR) system to avoid judicial hassles.

"You should consult first, and keep the court as last option."

He also opined that red-tapism is harmful for the growth of business and economy in the country.

"We have already created a forum called Investment Promotion Forum with representations from the relevant government bodies."

"This forum will regularly engage with existing and prospective investors. If there is any undue delay in implementation of a scheme, the forum will intervene," Mr Rahman added.


Share if you like