Investors seek tax friendly environment in Bangladesh for FDI
Investors and experts emphasised a more tax friendly environment in Bangladesh to encourage local and foreign direct investments (FDI), said speakers at a dialogue organised by the The Foreign Investors' Chamber of Commerce and Industry (FICCI).
Speaking at the programme styled "Conducive Tax Environment for Foreign Direct Investment (FDI) in Bangladesh," they underscored that a competitive tax regime vis-à-vis neighbouring nations would be a catalyst in drawing greater FDI.
Additionally, a clarion call for transparent and seamless documentation processes resonated throughout the conversation, aimed at streamlining the system's efficiency.
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Aftab Ul Islam, former president of American Chamber of Commerce (AmCham) in Bangladesh, urged private sector unity in this regard, saying, "Private sectors need to be united and proactive in advocating for concrete and time bound tax reforms."
Dr M Masrur Reaz, chairman, Policy Exchange Bangladesh presented the keynote highlighting the current state and challenges impeding FDI, intricacies of the country's tax system and its dominant role in investment decisions.
The event took place in the capital's Gulshan Club, jointly organised by the Policy Exchange Bangladesh and Foreign Investors Chambers of Commerce and Industries (FICCI) on 9 August.
Top management executives from several multinationals, including Standard Chartered Bangladesh, Nestle Bangladesh, and Unilever Bangladesh, were present in the dialogue session.
