Bodies formed to study 6 crucial areas

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Bangladesh Better Business Forum in its first meeting yesterday decided to form working committees on six areas to recommend measures for improving the country’s business environment and help the economy grow.

To be headed by a co-chairman, these committees will be formed within December 31 with representation from both the public and private sectors and are expected to start working by January next year, a forum member said.

“I am very hopeful. If the committee recommendations are implemented quickly, there will be a positive impact on the country’s economy and our growth rate will accelerate,” Manzur Elahi, administrator of Federation of Bangladesh Chambers of Commerce and Industry, said.

The government had appreciated the problems of the private sector, Elahi said after the first meeting of the forum chaired by its head Chief Adviser Fakhruddin Ahmed at his office.

The committees will work on six sub-sectors–business entry and operation, business finance, foreign direct investment and investment promotion, total infrastructure and facilities for the private sector development, human skills development, and monetary and fiscal policy. They will fix the modalities and terms of reference of the committees.

The private sector will submit the names of their proposed representatives within December 31 to the Bangladesh Better Business Forum secretariat, which is the Board of Investment (BoI) with its executive chairman as the forum secretary.

The committees will recommend measures to the forum, based on which the forum will act, Elahi said.

On November 26, the current caretaker government formed Bangladesh Better Business Forum to address the deterioration in confidence among the business community and improve interaction between them and government high-ups.

“We had a very positive discussion. I hope this public-private partnership will contribute to increased trade and business activities in the country,” said Anwar-ul-Alam Chowdhury, president of Bangladesh Garment Manufacturers and Exporters Association, who also attended the meeting.

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