Business Desk :
The ninth Private Sector Development Policy Coordination Committee (PSDPCC) meeting stressed simplification of repatriation policy and paid-up capital for foreign investors by bringing changes in the corresponding policies of the government.
“It is essential to review time-bound actions of each decision and implementation for simplification of repatriation policies for boosting foreign direct investment,” said the Prime Minister’s Principal Secretary Dr Kamal Abdul Naser Chowdhury at the meeting, a press release said yesterday.
The Prime Minister’s Office hosted the meeting on August 28, 2017. As the strategic partner, Business Initiative Leading Development (BUILD) placed four reform policy papers and they include policies for simplification of policies for repatriation, simplification of policies for raising paid up capital for foreign investors, simplification of policies for diversified jute products and strengthening coordination in water use and quality management. Kamal Abdul Naser Chowdhury said Bangladesh Investment Development Authority (BIDA) and Commerce Ministry hold responsibility to deal with the banks directly with an aim to encourage Foreign Direct Investment (FDI).
He advised all secretaries and other concerned bodies to sit with BUILD and review each of the proposals further. BUILD Chief Executive Officer (CEO) Ferdaus Ara Begum highlighted the policy inconsistencies and contradictions and recommended for a clearly spelt out process maps along with specific time-bound implementation of repatriation policies. FBCCI President Shafiul Islam Mohiuddin, among others, was present.
