For the first time in Bangladesh, a consultant from the non-public sector, Chowdhury Ashik Mahmud Bin Harun, has been appointed govt chairman of every and every the Bangladesh Investment Construction Authority (Bida) and the Bangladesh Financial Zones Authority (Beza).
In a latest interview with The Commerce Common (TBS), he shared his plans to steal investment in the country and give a enhance to the industry ambiance. The interview used to be performed by TBS Chief Reporter Abbas Uddin Noyon and Group Correspondent Jahir Rayhan on 5 November at Biniyog Bhaban in the capital’s Agargaon.
Are there any reform plans for Bida and Beza?
I believe about that effective digitisation will vastly give a enhance to carrier provide.
Historically, we be conscious investors as being responsible to us. Nonetheless, the fact is moderately the different. Traders power GDP development, improve the economy, and trust jobs. In that sense, the government is responsible to them, not different plot spherical.
To handle this, we’ve planned practicing programmes for our officers to provide a enhance to their working out and interactions with consumers. These programmes will level of curiosity on how to communicate effectively and perceive the products and providers investors achieve a query to extra clearly.
Our thought is to meet local investors in inform that they would possibly be able to dispute in international investments. They’ll act as ambassadors for us. As an different of holding roadshows in a international country, we goal to appeal to international investments thru deepest connections and leveraging our local investors. As an example, we desire to dispute in about a prime avid gamers esteem Samsung, whose investments can begin new doorways for us.
To appeal to world companies, we desire tailored solutions. We will level to certain and particular presents, highlighting the routine advantages we are able to provide. Enticing with anchor investors at present is key, supported by bilateral discussions at the governmental level. This kind will originate from January, marking a key ingredient of our reforms.
Our final goal is to trust a level taking part in field – a machine freed from bribes and corruption, constructed on an begin-door coverage. This also can define our reform budge.
Gain you held conferences with local entrepreneurs?
The very first component I did after taking on this characteristic used to be to sit down down down with investors and entrepreneurs to listen to their views. In true about a days, I like in my opinion met with at the least 200 CEOs to realize their issues and solutions.
We must hear to the challenges faced by investors and companies. Listening comes first, and solving the points comes next. To facilitate this, we are making a in vogue dialogue platform.
In the previous, all the issues used to be handled thru a single particular particular person, leaving other folks that did not like entry excluded. We like modified this plot. Now, we listen to everyone.
What challenges like companies cited?
The most in vogue misfortune raised by companies is corruption in trade and commerce. They also emphasised the importance of coverage continuity. When we promise certain products and providers to companies, it is needed to dispute them on time.
As an example, if Beza allocates land to an investor and commits to providing electrical energy by 2026, but fails to dispute even by 2028, it becomes nearly not most likely for the investor to develop their industry thought.
Moreover, many expressed issues about varied aspects of the ease of doing industry.
What are your plans on addressing issues on ease of doing industry?
One major subject is the excessive number of licences and certifications required to place a manufacturing facility in Bangladesh. We’re evaluating whether all these licences are in actuality principal. For this, we are studying from the experiences of worldwide locations which were profitable in simplifying these processes.
We thought to match Bangladesh with the same worldwide locations, analysing what number of certifications are principal to place the same industries in locations esteem Vietnam and Malaysia. If their requirements are fewer than ours, we will title why the process in Bangladesh is so complex and handle those bottlenecks accordingly.
To streamline the licensing process, we now like formed a loyal group focusing on this subject. Licences range across industries, so we will before all the issues prioritise two key sectors. Progressively, we will handle the challenges sector by sector.
The group’s major process is to title problems connected to licensing and work towards functional solutions.
What is the fresh space of the One Cease Service?
Currently, companies silent desire to focus on with extra than one ministries to invent licences and permits, veritably facing delays at different stages. To handle this, we will fully operationalise the One Cease Service.
We now like had a coordination assembly at the Chief Adviser’s Keep of job, the place it used to be resolute that Bida will speed this project. We’re dedicated to launching a true One Cease Service, because it’ll also silent be.
When an investor comes to focus on his or her investment, all the issues will be resolved in one assert with one particular person. The focal particular person will coordinate with all relevant ministries and provide the crucial products and providers to the investor.
We’re introducing a reception room thought the place an investor will enter the room, sit down down and the group will seize care of the total crucial verbal exchange and processes on their behalf. There will be no desire to focus on with extra than one locations.
For this, we will invent a loyal group. We’re developing a relationship administration group below Bida, that also can consist primarily of non-public sector personnel, in conjunction with some govt officers. Their major characteristic will be to resolve points efficiently.
Your tips on issues about ports, provide chains, and delays in transportation?
If we are able to implement solutions at the bottom level, I believe about we will peep significant enhancements. As an example, we’ve had discussions with the National Board of Revenue (NBR) chairman regarding the National Single Window, which objectives to simplify import-export procedures. They’ve dedicated to launching it by the tip of February. As soon as that is in assert, invoice clearance will be digital, addressing many of the existing challenges.
Additionally, the Licensed Financial Operator (AEO) initiative will be carried out in January. This also can provide a enhance to port efficiency by streamlining customs processes for trusted traders.
We’re also working on a cutting-edge trendy container terminal at Laldia Char in Chattogram to facilitate smoother import-export operations. Denmark’s greatest transport firm has proven curiosity in collaborating on this project.
Similarly, Singapore has expressed curiosity in the Bay Terminal project. As soon as these tasks are operational, they’re going to vastly give a enhance to port efficiency.
What are your tips on the outdated govt’s thought for 100 economic zones, and what number of are most likely?
We divide the economic zones into three classes. The key class is non-public Financial Zones Which shall be not developed by us. We provide utility products and providers at the doorstep and compose entry roads, but the non-public sector is accountable for the come.
The 2nd class is govt to govt (G2G) Financial Zones, which shall be developed by the accomplice country. We provide utility improve and boulevard connections, but the come is carried out by the accomplice country per its bear plans.
The third class is govt-owned Financial Zones, which shall be developed at present by the government. We like created a roadmap for the next 5 years to originate these zones.
As an example, in Mirsharai, Chattogram, there are about 30 sub-zones. We thought to level of curiosity on 4-5 of these sub-zones, guaranteeing fleshy connectivity and providing all principal improve, including gas, water, electrical energy, and roads.
As effectively as to Mirsharai, we will work on about a different zones outside Chattogram over the next 5 years. The goal of constructing 100 economic zones remains a part of our long-length of time thought, with a goal to develop this by 2040.
What initiatives are being taken to resolve the misfortune of the dearth of gas?
Beza is coordinating with all parties to make definite factories which like already been arrange can fleet secure gas connections. In step with our national search files from, there would possibly be currently a 25% shortfall in the provision of gas. The pipeline that offers gas is terribly outdated college, and overall, assembly the country’s gas search files from in a single day is not most likely. This also can seize some time, but we are working on it. In the raze, we will originate economic zones primarily primarily primarily based on the provide of gas.
What are your plans to appeal to international investment?
From the originate, I were in opposition to the foundation of conducting roadshows. To appeal to international investment, our ambassadors and economic counselors in varied worldwide locations can even additionally be major sources.
Since I took office, plenty of ambassadors from different worldwide locations like met me, in conjunction with their industry representatives. The ambassador of South Korea, as an illustration, has met me four cases in the final month. We desire our missions and ambassadors to teach this lead.
What would you articulate to investors?
I believe about now could perchance be the fully time to invest in the country. The fresh govt is not right here to like interaction in industry for deepest gains. No one will deceive industry owners for non-public pursuits.
True six months ago, to originate a industry, one would prefer to bear in tips which minister or member of parliament used to be all for that sector, and who to delight. That mentality not exists.
So, come, invest.
