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Business leaders on Saturday called for a series of policy measures, including lower lending rates, easier access to letters of credit (LCs), reduced operating costs, automated government services and improved law and order, to help businesses cope with global trade uncertainty and domestic economic challenges.
The demands were raised at a discussion titled “Improving the Overall Local Business and Investment Environment”, organised by the Dhaka Chamber of Commerce and Industry (DCCI) in New Dhanmondi.
Leaders of 15 business associations and representatives from around 100 companies in the Dhanmondi-Mohammadpur area attended the meeting.
DCCI President Taskin Ahmed said entrepreneurs continue to face difficulties due to bureaucratic complexities, uncertainty over tax and VAT regulations, and law and order concerns despite their significant contribution to the economy.
He also said businesses have been affected by energy shortages and the decision to close shops and shopping malls by 7:00 pm, which has led to a noticeable decline in sales.
Taskin welcomed several measures in the current national budget, including treating withholding tax as advance tax, reducing withholding tax on imports of industrial raw materials, creating a Tk 50 billion fund for the CMSME sector and introducing a stable five-year tax framework.
However, he expressed concern that the government’s heavy reliance on bank borrowing to finance its budget deficit could reduce credit flow to the private sector.
Dhaka South City Corporation’s Chief Revenue Officer Jonayed Kabir Sohag said the city authority has adopted a zero-tolerance policy against harassment in providing civic services, including trade licences.
He added that the city corporation plans to organise a Trade Licence Renewal Week at the DCCI in collaboration with the chamber.
Deputy Commissioner (Crime) of the Dhaka Metropolitan Police, Md. Tarek Zubayer, said police operations against extortion are continuing and that artificial intelligence-based traffic management has already shown positive results on several roads in the capital.
He said the proposed “Smart Policing-Smart City” project aims to expand AI-based traffic management across Dhaka.
Additional Commissioner of the Customs, Excise and VAT Commissionerate, Dhaka (West), Nirjhar Ahmed, said global supply chain disruptions and limited capacity among local entrepreneurs have slowed business activities.
He added that allowing businesses to submit VAT returns every three months instead of more frequently would help improve working capital management.
