Foreign diplomats on Thursday stressed the need for addressing the challenges faced by the existing global companies operating in Bangladesh and improving the country's business environment index to attract more foreign direct investment.
They also suggested taking preparations right from now for the post-2024 period as it would lose the preferential market access to many countries including Japan with its graduation from the status of LDC (least developed country).
"It is really important for business community and government officials entirely to deal with the challenges and issues which are held by the existing foreign companies," Ambassador of Japan to Dhaka Ito Naoki said.
He termed the issues related to import procedures, trade facilitation, tax and banking reforms as the challenges.
Mr Ito was speaking at a programme on 'Ease of Doing Business" jointly organised by Canada Bangladesh Chamber of Commerce and Industry (CanCham Bangladesh), Japan Bangladesh Chamber of Commerce and Industry (JBCCI) in cooperation with Bangladesh Investment Development Authority (BIDA) held in a city hotel.
BIDA executive chairman Sirazul Islam was present as chief guest while IFC Bangladesh senior private sector specialist Miah Rahmat Ali presented the keynote paper on "Ease of Doing Business".
Canadian High Commission in Bangladesh charge d'affaires Mauliff Bose , among others, also spoke.
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