Economic Reporter :
Dhaka Chamber of Commerce and Industry (DCCI) on Saturday expressed its deep concern over the slipping down of Bangladesh’s rank in ease of doing business.
Recently, the WB published “Doing Business 2016 Ranking’ where it disclosed that Bangladesh slips down 2 notches to 174 from 172 globally.
The concern was expressed at a press conference on “Doing Business 2016: Measuring Regulatory Quality and Efficiency” organized by DCCI at its boardroom in the city.
Addressing the press conference, DCCI President Hossain Khaled said, cost of doing business should be reduced. “Bangladesh lags in implementation and process simplification. It also needs to reduce the number of export documents from 12 to 7 as in China the number is 7 whereas in India it is only 3,” he said.
He proposed for introducing online document submission system in registration and licensing process. He also said that manifold tax and non-tax charges (about 13.5% on deed value) on purchase of commercial space imposed creates additional burden on businesses.
Hossain Khaled said that in Bangladesh getting new electricity connection requires on an average 404 days. This delay of getting connections inflates cost of doing businesses. In other case, property registration process takes 244 days.
He also urged the government to expedite new electricity connection to the industries to increase production base. The DCCI President said that government has taken a number of reforms initiatives but in a piecemeal basis, which needs to be streamlined and harmonized.
The DCCI president said government has taken initiative in reforms like approval of the 7th Five-Year Plan, Companies Act 2013, Customs Act 2015, new Export, Import and Industrial Policy, PPP Act, EZ Act. “But above all we have to simplify our procedural delay and complicacies for easing cost of doing business,” he said.
He also opined that if the procedure, regulatory framework, delay in getting license could be reduced, new entrepreneurs will come into business more.
In this context, he said Costa Rica, Uganda, Kenya, Cyprus, Mauritania, Uzbekistan, Kazakhstan, Jamaica, Senegal, and Benin implemented 39 regulatory reforms making it easier to do business.
He said that Bangladesh has been graduated to lower middle-income country and aims to get the middle-income country status by the year 2021. “To achieve the goal we have to increase our position and look into the image of the country”, he said.
Hossain Khaled also urged the government to simplify trade license application process, registration process through digitization, ensuring electricity for industrial units at a competitive price and lowering property transfer fee.
He also underscored the need for strengthening legal rights of borrowers and lenders. He stressed for more proactive role of Board of Investment (BoI) to attract Foreign Direct Investment (FDI). He also demanded for reducing corporate tax rate and solving the non- tariff barriers.
Dhaka Chamber of Commerce and Industry (DCCI) on Saturday expressed its deep concern over the slipping down of Bangladesh’s rank in ease of doing business.
Recently, the WB published “Doing Business 2016 Ranking’ where it disclosed that Bangladesh slips down 2 notches to 174 from 172 globally.
The concern was expressed at a press conference on “Doing Business 2016: Measuring Regulatory Quality and Efficiency” organized by DCCI at its boardroom in the city.
Addressing the press conference, DCCI President Hossain Khaled said, cost of doing business should be reduced. “Bangladesh lags in implementation and process simplification. It also needs to reduce the number of export documents from 12 to 7 as in China the number is 7 whereas in India it is only 3,” he said.
He proposed for introducing online document submission system in registration and licensing process. He also said that manifold tax and non-tax charges (about 13.5% on deed value) on purchase of commercial space imposed creates additional burden on businesses.
Hossain Khaled said that in Bangladesh getting new electricity connection requires on an average 404 days. This delay of getting connections inflates cost of doing businesses. In other case, property registration process takes 244 days.
He also urged the government to expedite new electricity connection to the industries to increase production base. The DCCI President said that government has taken a number of reforms initiatives but in a piecemeal basis, which needs to be streamlined and harmonized.
The DCCI president said government has taken initiative in reforms like approval of the 7th Five-Year Plan, Companies Act 2013, Customs Act 2015, new Export, Import and Industrial Policy, PPP Act, EZ Act. “But above all we have to simplify our procedural delay and complicacies for easing cost of doing business,” he said.
He also opined that if the procedure, regulatory framework, delay in getting license could be reduced, new entrepreneurs will come into business more.
In this context, he said Costa Rica, Uganda, Kenya, Cyprus, Mauritania, Uzbekistan, Kazakhstan, Jamaica, Senegal, and Benin implemented 39 regulatory reforms making it easier to do business.
He said that Bangladesh has been graduated to lower middle-income country and aims to get the middle-income country status by the year 2021. “To achieve the goal we have to increase our position and look into the image of the country”, he said.
Hossain Khaled also urged the government to simplify trade license application process, registration process through digitization, ensuring electricity for industrial units at a competitive price and lowering property transfer fee.
He also underscored the need for strengthening legal rights of borrowers and lenders. He stressed for more proactive role of Board of Investment (BoI) to attract Foreign Direct Investment (FDI). He also demanded for reducing corporate tax rate and solving the non- tariff barriers.
