Dhaka Chamber of Commerce and Industry (DCCI) has expressed deep concern over Bangladesh’s slipping down in ‘Doing Business 2016’ report of World Bank.
The business organisation came up with the concern at a press conference over this slipping down of Bangladesh’s rank in ease of doing business.
The DCCI organised the press conference held on October 31.
World Bank has recently published a report on ‘Doing Business 2016: Measuring Regulatory Quality and Efficiency” where Bangladesh slips down 2 notches to 174 from 172.
DCCI President Hossain Khaled presented DCCI’s reaction through a power point presentation.
Cost of doing business should be reduced, he said, adding Bangladesh lags in implementation and process simplification.
He also said Bangladesh 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.
In this regard he proposed for online document submission system in registration and licensing process.
He also said 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 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 the government has taken a number of reforms initiatives but in a piecemeal basis which needs to be streamlined and harmonized.
He said government has taken initiative in reforms like approval of seventh 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 also opined that if the procedure, regulatory framework, delay in getting license could be reduced, and new entrepreneurs will come into business more.
Costa Rica, Uganda, Kenya, Cyprus, Mauritania, Uzbekistan, Kazakhstan, Jamaica, Senegal, and Benin implemented 39 regulatory reforms making it easier to do business.
He said 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.
Hossain Khaled also urged for simplification of trade license application process, registration process through digitisation, ensuring electricity for industrial units at a competitive price, lowering property transfer fee, strengthening legal rights of borrowers and lenders, more proactive role of Board of Investment (BoI), reducing corporate tax rate, reduced documentations and lowering non-tariff measures.
He also reiterated for strong legal framework with minimum time for disposal of resolving insolvencies.
Among others, DCCI’s Senior Vice President Humayun Rashid, Vice President Md Shoaib Choudhury, Directors Alhaj Abdus Salam, AKD Khair Md Khan, Hossain Akhtar, Khandakar Abdul Muktadir, Muktar Hossain Chowdhury, S Rumi Saifullah, Secretary General AHM Rezaul Kabir and CEO of BUILD Ferdaus Ara Begum were also present at the press conference.