DCCI Round Table Discussion Told
Long term tax policy on cards to attract more FDI
Published : Friday, 14 September, 2018 at 12:00 AM Count : 568
The government will introduce a long term tax policy to attract more Foreign Direct Investment (FDI), informed Abul Kalam Azad, Principal Coordinator (SDG Affairs), Prime Minister's Office.
"To achieve the Sustainable Development Goals (SDGs) we must have to increase FDI. But before making any investment, foreigners want to know about the taxation policy of the country," he said adding that the government has started work for framing a long term tax policy framework.
Abul Kalam was addressing as the chief guest at a round table discussion session on "Potential Roles and Challenges of Private Sector to Achieve Sustainable Development Goals," organized by Dhaka Chamber of Commerce and Industry (DCCI) at the DCCI auditorium .
Metropolitan Chamber of Commerce and Industry (MCCI) President Barrister Nihad Kabir and the Chittagong Chamber of Commerce and Industry (CCCI) President Mahbubul Alam were present as special guests at the session in which former DCCI President Asif Ibrahim was the moderator.
Dr. Nazneen Ahmed, Senior Research Fellow of Bangladesh Institute of Development Studies (BIDS) presented the keynote paper. She highlighted that the goals of SDG 8, 9 and 12 are directly linked with private sector.
She said: "Our local market is also very big. To explore our own market we have to increase our investment."
She also urged for skill development and infrastructure. In order to increase investment corporate tax rate should be reduced and long term regulatory framework should be established.
Abul Kalam said the per capita income was expected to reach $16000 by the year 2041, when Bangladesh expects to become among the developed nations.
He said that the government has created a land bank of 100,000 acres for establishing economic zones specially in the south belt of which 35000 acres of land have been acquired and handed over to BEZA.
He also said that it is our private sector which is leading our GDP growth. He said that government has done a mapping with the goals and targets of SDG and distributed tasks among all the ministries for implementation.
Senior Research Fellow of CPD Towfiqul Islam Khan, Director of Multimode Group Tafsir Mohammed Awal and Research Director of PRI Dr. MA Razzaque were present as panel discussants.
Former President of DCCI Hossain Khaled, Director of Power Cell Engr. Mohammad Hossain, Secretary General of MCCI Farooq Ahmed, former senior vice president of DCCI MS Shekil Chowdhury, Additional Secretary of Ministry of Disaster Management Mohammad Mohsin, DCCI Joint Convenor Barrister Siam Al Din Malik, DCCI former Director AKD Khair M Khan, Country Director of KOICA Cary H. Joe, Convenor of SDG committee of DCCI MS Siddique took part in the open discussion session. Speakers urged for entrepreneurship development as it will create more employment opportunities and faster communication in the Dhaka-Chittagong economic corridor.
DCCI former President and President of ICC-Bangladesh Mahbubur Rahman, Directors Imran Ahmed, Kh. Rashedul Ahsan, Engr. Md. Al Amin, Mohammad Bashiruddin, & Waqar Ahmad Choudhury and Secretary General AHM Rezaul Kabir among others were present.