Reza Mahmud :
FBCCI President Shafiul Islam (Mohiuddin) said that the businessmen are being made victims of harassments on account of the remaining VAT systems.
He said also, doing business is not easy in Bangladesh due to dishonest officials of few offices. They are involved in widespread corruptions in issuing trade license, VAT registrations and other areas.
“To create business environment, the value added tax (VAT) system must be reshuffled in consultation with the business community. The FBCCI is always ready to extend hands to resolve the matter with necessary advices,” Shafiul Islam (Mohiuddin) said.
The FBCCI President passed those comments in an interview with The New Nation recently.
Shafiul Islam has the rare distinction of leadership capacity as the President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade body of Bangladesh representing 35 million business personalities. He is playing a very important role in making of private sector dominant in the business world with his vibrant and dynamic leadership.
The FBCCI President said, the businessmen; especially the small entrepreneurs are repeatedly complaining of harassments by the officials in the name of VAT. Whereas the business community has wide range of contributions in the country’s economic development. They should not be the subject of harassment.
When asked, the FBCCI President said, doing business is very difficult now in Bangladesh.
“If anyone wants to start a business, a trade license is a must. But it is not easy for any entrepreneur to get a trade license within short time. The officials responsible to issue license, repeatedly give new dates of the delivery in order to collect money illegally from the entrepreneur ,” he alleged.
The business leader also said FBCCI is ready to help government make business easy.
“FBCCI is working with Bangladesh Investment Development Authority (BIDA) to remove difficulties in doing business in the country. We have suggested to issue trade license within 24 to 48 hours from the date of application,” he said.
Replying to a query, he said BIDA is trying to improve its position by remaining within 100 spots instead of current 176.
“It is a very positive initiative of BIDA to reduce gap in doing business here. We have certain suggestions in this regard to remove complexities VAT systems, reduce trade license fee and other charges, cut corruptions among officials, build sufficient infrastructure, to maintain reasonable prices, and to build necessary trained and learned manpower for industrial sectors,” he said.
The business leader said, the government has initiated some long term plans to develop business environment by importing power and LNG and constructing infrastructure. But some short term initiatives like removal of VAT complexities and reducing license and other charges are required.
Shafiul Islam (Mohiuddin) said, Small and Medium Enterprises are the backbone of any country’s economy. Our government is trying to boost SME by giving some intensives and taking various measures. To boost SME, the infrastructure development and flexible sources of credit and other objects must be made easy and available for the young and new entrepreneurs.
Responding to a query, the FBCCI President said there is no optimistic response in Foreign Direct Investment (FDI). He said the local investors cannot trust to invest money here, then how will the foreigners do it? First the government should create more friendly business environment here, then the foreign and local investors will come and invest their valuable wealth.
FBCCI President Shafiul Islam (Mohiuddin) said that the businessmen are being made victims of harassments on account of the remaining VAT systems.
He said also, doing business is not easy in Bangladesh due to dishonest officials of few offices. They are involved in widespread corruptions in issuing trade license, VAT registrations and other areas.
“To create business environment, the value added tax (VAT) system must be reshuffled in consultation with the business community. The FBCCI is always ready to extend hands to resolve the matter with necessary advices,” Shafiul Islam (Mohiuddin) said.
The FBCCI President passed those comments in an interview with The New Nation recently.
Shafiul Islam has the rare distinction of leadership capacity as the President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade body of Bangladesh representing 35 million business personalities. He is playing a very important role in making of private sector dominant in the business world with his vibrant and dynamic leadership.
The FBCCI President said, the businessmen; especially the small entrepreneurs are repeatedly complaining of harassments by the officials in the name of VAT. Whereas the business community has wide range of contributions in the country’s economic development. They should not be the subject of harassment.
When asked, the FBCCI President said, doing business is very difficult now in Bangladesh.
“If anyone wants to start a business, a trade license is a must. But it is not easy for any entrepreneur to get a trade license within short time. The officials responsible to issue license, repeatedly give new dates of the delivery in order to collect money illegally from the entrepreneur ,” he alleged.
The business leader also said FBCCI is ready to help government make business easy.
“FBCCI is working with Bangladesh Investment Development Authority (BIDA) to remove difficulties in doing business in the country. We have suggested to issue trade license within 24 to 48 hours from the date of application,” he said.
Replying to a query, he said BIDA is trying to improve its position by remaining within 100 spots instead of current 176.
“It is a very positive initiative of BIDA to reduce gap in doing business here. We have certain suggestions in this regard to remove complexities VAT systems, reduce trade license fee and other charges, cut corruptions among officials, build sufficient infrastructure, to maintain reasonable prices, and to build necessary trained and learned manpower for industrial sectors,” he said.
The business leader said, the government has initiated some long term plans to develop business environment by importing power and LNG and constructing infrastructure. But some short term initiatives like removal of VAT complexities and reducing license and other charges are required.
Shafiul Islam (Mohiuddin) said, Small and Medium Enterprises are the backbone of any country’s economy. Our government is trying to boost SME by giving some intensives and taking various measures. To boost SME, the infrastructure development and flexible sources of credit and other objects must be made easy and available for the young and new entrepreneurs.
Responding to a query, the FBCCI President said there is no optimistic response in Foreign Direct Investment (FDI). He said the local investors cannot trust to invest money here, then how will the foreigners do it? First the government should create more friendly business environment here, then the foreign and local investors will come and invest their valuable wealth.
