Parties want policy continuity, urge Bida to focus on short-term plans
BNP was invited to the meeting, but no representative attended
Highlights:
- CPB's MM Akash warns against long-term plans under interim govt
- LDP's Sarwardy says investors need clarity on government's future
- NCP proposes cross-party 'financier's charter' for policy stability
- Jamaat cites high taxes, corruption, legal harassment as barriers
- Ganosamhati blames loan access disparity, business harassment
- Islami Andolan says bribe needed to get permits from 18 agencies
- AB Party calls for stronger One Stop Service, IP law for investor trust
Political party leaders at a meeting with the Bangladesh Investment Development Authority (Bida) today (13 May) said Bangladesh needs policy continuity and the return of an elected political government for sustained investment growth.
At the view-exchange meeting at Bida's headquarters in Agargaon, Dhaka, the parties also urged the Bida focus on short-term reforms while leaving long-term decisions to a future elected government.
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The meeting brought together representatives from 17 parties to discuss policy, reforms, and investment. The BNP was invited to the meeting, but no representative attended.
Speaking to reporters after the meeting, MM Akash, central committee member of the Communist Party of Bangladesh (CPB) and an economist, cautioned against ambitious long-term reform plans under an interim government setup.
"If the current government intends to stay beyond June 2026, long-term reforms may be justified. Otherwise, it should focus on correcting past missteps such as the Rampal plant and Payra Port," he said.
He added that the investment climate is secondary to political stability and national security, warning that volatility, including conflict in the Rakhine corridor, could quickly undermine investor confidence.
He also called for a foreign investment policy that safeguards national interest and prioritises small and medium enterprises.
Lieutenant General (retd) Chowdhury Hasan Sarwardy of the Liberal Democratic Party said both local and foreign investors require clarity on the government's stability and tenure.
"Without a political government, people will ask: How long will this government stay? When will elections be held? The interim authority must address these questions to attract investment," he said.
Nasiruddin Patwary, chief coordinator of the National Citizen Party (NCP), proposed creating a cross-party 'financier's charter' to ensure that investment policies remain consistent across political transitions.
"Our governments may change, but the investment policies should not," he said. "National interests should be maintained in investment."
Jamaat-e-Islami's Assistant Secretary General Hamidur Rahman Azad highlighted systemic challenges that deter investment, including high bank interest rates, excessive corporate tax, corruption, and extortion.
"Land acquisition is a nightmare for investors. Legal loopholes are used to harass businesses. No investment will increase unless we ensure good governance, transparency, and accountability," he said.
Ganosamhati Andolon Chief Coordinator Zonayed Saki said the investment climate has not improved. "Harassment remains a major barrier, and ordinary citizens can't access loans, while those known for embezzlement get large sums. These distortions must be reformed."
Syed Ishaq Muhammad Abul Khair, assistant secretary general of Islami Andolan Bangladesh, noted that even starting a small business requires permits from 18 agencies – each demanding bribes. "If this is the condition for local investors, foreign investors will face even greater challenges."
Nasreen Sultana Mily, joint general secretary of AB Party, called for strengthening the One Stop Service portal to centralise investor services. She also urged the enactment of an Intellectual Property law to protect innovations.
"Foreign investors won't come if they fear their products will be copied without legal recourse," she said.
At the beginning of the meeting, Bida officials had announced a press briefing would follow. However, no such event took place. Officials later said a press release would be issued instead.
In a statement, Bida noted that it will give special attention to local investors in the next phase of reform discussions. Concluding the meeting, Bida Executive Chairman Ashik Mahmud reaffirmed the authority's commitment to safeguarding national interests.
