The dialogue, initiated by Yuji Ando, the country representative of JETRO (Japan External Trade Organization), highlighted the sluggish nature of customs procedures in Bangladesh. Ando emphasized that streamlining this process would significantly enhance the country’s appeal to foreign investors.
Commerce Secretary Tapan Kanti Ghosh encouraged foreign investors to engage directly with Bangladesh and voice their concerns instead of critiquing the country from a distance. He mentioned the allocation of land to Japanese investors in the economic zone in Narayanganj but noted a lack of Japanese investors, suggesting that customs issues might be a contributing factor.
Rupali Chowdhury provided a detailed presentation, outlining concerns such as a lack of policy consistency. She highlighted changes in policies related to land lease value-added tax (VAT), increased utility charges, and challenges in obtaining electricity connections. Chowdhury also addressed the frequent policy changes by the National Board of Revenue (NBR) and stressed the need to reduce discretionary powers in bureaucratic processes.
M Masrur Reaz, chairman of Policy Exchange Bangladesh, presented a keynote paper discussing challenges and prospects for foreign direct investment in Bangladesh. In closing remarks, Naser Ezaz Bijoy, president of FICCI, acknowledged existing challenges but emphasized significant potentials in sectors like agriculture, the digital economy, and other emerging industries.
Samsoo Kim, director general of KOTRA, and Saiful Islam, president of the Metropolitan Chamber of Commerce and Industry (MCCI), also shared their perspectives during the seminar.
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