Thrust on improvement of infrastructure and attendant facilities
Wednesday, 9 September 2009
FE Report
A delegation from India-Bangladesh Chamber of Commerce and Industry (IBCCI) led by its President, Abdul Matlub Ahmad called on the Executive Chairman, Board of Investment (BOI), Dr. S. A. Samad at his office Tuesday.
The delegation exchanged views on matters relating to improvement of existing infrastructure and attendant facilities for attracting investments, both domestic and foreign. The main objective is to achieve the cherished goal of the incumbent government to create a digital Bangladesh by 202 1.
While briefing the chief, the IBCCI President referred to some issues, which are currently hindering investments, both domestic and foreign.
The issues are inadequate infrastructure like -shortage of gas supply to industries, inadequate power supply.
The other issues include work permit and visa related complications for expatriate employees in violation of the relevant stipulations of the country's Industrial Policyproviding work permits and visas for the entire period one's job contract.
Inconsistencies between various government policies concerning business and investments, frequent policy changes through issuance of Statutory Regulatory Orders (SROs) were also mentioned as hindrance.
The IBCCI President urged the BOI to pursue the relevant quarters of the government to address the above issues without any further delay.
IBCCI suggested that a high powered from Bangladesh headed by the BOI boss could visit India at the earliest to tap the energy sector giants like the Reliance group, Tata etc. for investment in the energy sector of Bangladesh and offered all necessary assistance from the Chamber's side to make it happen.
IBCCI felt that Bangladesh could become a profitable manufacturing hub for foreign investors in general and Indian investors in particular who would be willing to invest in the country, produce goods locally and then export those back their own countries. In this connection, the Chamber cited the example of Nepal and Bhutan where some Indian companies have done so benefiting all concerned immensely.
A delegation from India-Bangladesh Chamber of Commerce and Industry (IBCCI) led by its President, Abdul Matlub Ahmad called on the Executive Chairman, Board of Investment (BOI), Dr. S. A. Samad at his office Tuesday.
The delegation exchanged views on matters relating to improvement of existing infrastructure and attendant facilities for attracting investments, both domestic and foreign. The main objective is to achieve the cherished goal of the incumbent government to create a digital Bangladesh by 202 1.
While briefing the chief, the IBCCI President referred to some issues, which are currently hindering investments, both domestic and foreign.
The issues are inadequate infrastructure like -shortage of gas supply to industries, inadequate power supply.
The other issues include work permit and visa related complications for expatriate employees in violation of the relevant stipulations of the country's Industrial Policyproviding work permits and visas for the entire period one's job contract.
Inconsistencies between various government policies concerning business and investments, frequent policy changes through issuance of Statutory Regulatory Orders (SROs) were also mentioned as hindrance.
The IBCCI President urged the BOI to pursue the relevant quarters of the government to address the above issues without any further delay.
IBCCI suggested that a high powered from Bangladesh headed by the BOI boss could visit India at the earliest to tap the energy sector giants like the Reliance group, Tata etc. for investment in the energy sector of Bangladesh and offered all necessary assistance from the Chamber's side to make it happen.
IBCCI felt that Bangladesh could become a profitable manufacturing hub for foreign investors in general and Indian investors in particular who would be willing to invest in the country, produce goods locally and then export those back their own countries. In this connection, the Chamber cited the example of Nepal and Bhutan where some Indian companies have done so benefiting all concerned immensely.