Multinationals seek predictability in business licensing, taxing

Top business executives of multinational companies operating in Bangladesh urged the government to ensure predictability in licensing and tax measures alongside improving ease of doing business.
Over a dozen chief executive officers, managing directors, and country heads of the multinationals Tuesday met Chief Adviser of the interim government Prof Muhammad Yunus at the State Guesthouse Jamuna discussing business and investment opportunities in Bangladesh, said a spokesperson for the CA office.
Facilitating one-stop service in BIDA and improving country credit ratings to encourage investors to come to Bangladesh are also among major suggestions coming from the MNCs.
The business high-ups lauded government initiative for labour-rights reforms and assured all kinds of support for their side.
The head of post-uprising government requested them to team up with the government to advocate and promote Bangladesh to potential investors and ensure business opportunities expanded in the country.
"As a team, we have to work together. We are a team for the country," said the Chief Adviser.
"Be the brand ambassador of the country and It will encourage potential investors to come to Bangladesh."
Lutfey Siddiqi, special envoy to the Chief Adviser, Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of the Bangladesh Investment Development Authority (BIDA) & Bangladesh Economic Zones Authority (BEZA), and Abdur Rahman Khan, Chairman, the National Board of Revenue (NBR), were also present at the meeting.
The Chief Adviser asked the executives to maintain transparency in businesses.
"Help us identify issues and challenges so that we can get to address them," he said.
Terming the CEOs standard bearers in business, Lutfey Siddiqi said, "There was a trust deficit in the past. We need to bridge that."
Ashik Chowdhury said they are introducing relationship managers in BIDA to ease doing-business environment.
He and special envoy Lutfey Siddiqi will travel to Singapore next month to have discussions with the ratings agencies that give their evaluation.
The NBR chairman spoke about the launch of National Single Window which would significantly ease the way of doing business.
Zaved Akhtar, Chairman & Managing Director, Unilever Bangladesh Ltd, Eric M. Walker, Managing Director, Chevron Bangladesh, Yasir Azman, Chief Executive Officer of Grameenphone, Md. Mahbub ur Rahman, Chief Executive Officer, The Hongkong & Shanghai Banking Corporation Ltd. (HSBC), Muhammad Alauddin Ahmad, Chief Executive Officer, MetLife Bangladesh, Abdur Rashid, Country Managing Director, SGS Bangladesh Limited, M. H. M. Fairoz, Managing Director & CEO, Singer Bangladesh Ltd, Najith Meewanage, CEO, Commercial Bank of Ceylon PLC, Rubaba Dowla, Country Managing Director, Oracle Bangladesh, Manabu Sugawara, Country Head, Marubeni Corporation, Faisal Ahmed Chowdhury. Chairman, Baraka Power Ltd, Mohammad Iqbal Chowdhury, CEO, LafargeHolcim Bangladesh Ltd, Md. Miarul Haque, Managing Director, DHL Worldwide Express Bangladesh Private Ltd, and Sumitava Basu, Country Head, Marico Bangladesh Limited, were among present.

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