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Friendly policies to attract Foreign Direct Investments stressed

DCCI President Md. Sabur Khan and CEO of BFTI Dr. Md. Mozibur Rahman unveil “Asia Pacific Trade and Investment Report-2013??? at DCCI in Dhaka on Saturday (23 November 2013)

DCCI President Md. Sabur Khan and CEO of BFTI Dr. Md. Mozibur Rahman unveil “Asia Pacific Trade and Investment Report-2013??? at DCCI in Dhaka on Saturday (23 November 2013)

DCCI President Md. Sabur Khan called upon the government to frame more investment-friendly policies to attract Foreign Direct Investments (FDIs) and for development of SMEs.

He stressed on infrastructure development through public private partnership (PPP) and emphasized on considerable use of ICT in the banking sector side by side making intellectual property acts more effective.

He urged for harmonization of common standards in Asia Pacific region and emphasised on trade and export-led economic growth in the Asia Pacific region.

Sabur Khan made the remarks while speaking at the launching ceremony of “Asia Pacific Trade and Investment Report-2013??? at DCCI in Dhaka on Saturday.

The Bangladesh Foreign Trade Institute (BFTI), the Dhaka Chamber of Commerce and Industry (DCCI) and UNESCAP jointly organised the function.

DCCI President Md. Sabur Khan was present as special guest while CEO of BFTI Dr. Md. Mozibur Rahman chaired the event, said a press release.

In his address of welcome, CEO of Bangladesh Foreign Trade Institute (BFTI) Dr. Md. Mozibur Rahman said that to ensure a sustainable economic development, Bangladesh needs policy consistency and political stability.

He called upon all political parties to keep transportation of industrial goods and other supply chain management relating to trade and commerce out of political activities.

He also stressed on reducing cost of doing businesses and reducing banks’ lending rate to single digit. He informed that BFTI is working hard to form a comprehensive trade policy.

According to the Asia Pacific Trade and Investment Report, export growth of Asia Pacific region will remain over 5 percent in 2013 and 6 percent in 2014.

Developing countries in the Asia Pacific region attracted over 33 percent of FDI. Reducing the cost of international trade transactions has become a priority for government’s intent to facilitating the effective integration of firms in regional and global production networks.

Along with improving availability and access to trade related infrastructure, cutting red tape and streamlining trade processes have become essential both to maintain competitiveness and enable smaller player to also benefit.

Bangladesh ranks 137th out of 179 countries according to the ESCAP International Supply Chain Connectivity Index, a new index released on the occasion of the Asia Pacific Trade and Investment week which captures the extent of a country’s facilitation of import and export process as well as access to efficient maritime services.

Ferdaus Ara Begum, CEO of Business Initiative Leading Development (BUILD), speaking as panelist emphasized on the development of the service sector especially on the tourism sector. She called upon the private sector to contribute more in marketing, promotion, distribution, awareness creation branding etc.

Senior Research Fellow of BFTI Dr. Mohammad Abu Yusuf presented the keynote paper.

In his paper, he highlighted that absolute poverty was reduces significantly. He also pointed out for increased ICT connectivity as it is an increasingly important factor for productivity. He also called for ensuring a social dialogue on policy reforms.

DCCI Directors M Abu Hurairah, Alhaj Abdus Salam, Md. Shoaib Choudhury spoke on the occasion.

DCCI Directors Haider Ahmed Khan, FCA, Kh. Shahidul Islam, Hossain A Sikder, Rizwan Ur Rahman were present.

http://www.daily-sun.com/details_Investment-friendly-policies-to-attract-FDI-stressed_684_1_3_1_1.html

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