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View Exchange Meeting on “Improving the Overall Local Business, Trade and Investment Environment”
Due to the ongoing instability in global trade and a range of domestic challenges, conducting business has become increasingly difficult, adversely affecting the country's overall economic growth. Reducing the cost of doing business, automating and simplifying the processes for obtaining trade licenses and other government services, ensuring easier access to finance, simplifying the procedures for opening letters of credit (LCs), and improving the overall law and order situation are among the key requirements for creating a more conducive business environment. Entrepreneurs from small and medium enterprises located at Dhanmondi- Mohammadpur area made these remarks at an exchange of views meeting titled “Improving the Overall Local Business, Trade and Investment Environment”, organized by Dhaka Chamber of Commerce & Industry (DCCI) held on July 11, 2026 at the New Dhanmondi Convention Hall, Dhanmondi, Dhaka. Md. Tareq Zubair, Deputy Commissioner (Crime), Dhaka Metropolitan Police; Jonayed Kabir Sohag, Chief Revenue Officer, Dhaka South City Corporation; Nirjhar Ahmed, Additional Commissioner, Customs, Excise and VAT Commissionerate, Dhaka (West), NBR; Nusrat Farzana, Second Secretary (Tax Policy), NBR; Mahmudun Nabi, Director, Foreign Exchange Investment Department, Bangladesh Bank attended the event as Special Guests.
In his welcome remarks, DCCI President Taskeen Ahmed stated that although the country's business community contributes significantly to the national economy, administrative complexities, ambiguities in tax and VAT regulations and law and order challenges continue to impede business operations. He further noted that the ongoing energy and electricity shortages have increased transportation costs, while the decision to close shopping malls and retail outlets by 7:00 p.m. has led to a sharp decline in sales and business turnover, negatively impacting overall commercial activities. He mentioned that several measures announced in the recently passed national budget-including treating tax deducted at source as advance tax, reducing source tax on the import of industrial raw materials, allocating BDT 5 thousand Crore for the development of the CMSME sector, and introducing a stable tax framework for five years-have sent positive signals to the business community. However, he expressed concern that the government's ambitious revenue collection target and increasing dependence on bank borrowing to finance the budget deficit are constraining credit flow to the private sector, thereby discouraging investment.
Speaking at the event, Jonayed Kabir Sohag, Chief Revenue Officer, Dhaka South City Corporation said that the city corporation has adopted a zero-tolerance policy against harassment in obtaining trade licenses and other city corporation services, which will help reduce both time and financial costs for citizens. He informed that based on DCCI's proposal, DSCC is planning to organize a Trade License Renewal Week at DCCI very soon to facilitate easier business operations for entrepreneurs. He also urged city residents to pay holding tax and other municipal fees on time.
Md. Tareq Zubair, Deputy Commissioner (Crime), Dhaka Metropolitan Police said that entrepreneurs are working tirelessly to keep the wheels of the economy moving and that momentum must not be disrupted under any circumstances. He informed that Bangladesh Police has zero tolerance policy against extortionists and arrest operations against them are ongoing. Referring to the successful introduction of AI-based traffic management on several streets in the capital, he said the police are actively considering a "Smart Policing, Smart City" project to expand AI-driven traffic management across Dhaka.
Nirjhar Ahmed, Additional Commissioner, Customs, Excise and VAT Commissionerate, Dhaka (West), NBR observed that global supply chain disruptions and capacity constraints among local entrepreneurs have somewhat slowed the country's overall business, trade, and investment activities. However, she expressed that the newly introduced provision allowing businesses to submit VAT returns every three months would help improve entrepreneurs' working capital and ease business operations. He also emphasized the importance of adopting advanced technologies to enhance business competitiveness.
Nusrat Farzana, Second Secretary (Tax Policy), NBR said that both revenue collection and the provision of tax incentives are equally important for the government and NBR is continuously working to maintain a balance between the two to facilitate ease of doing business. She noted that the recently enacted Finance Act 2026 contains several initiatives aimed at simplifying business operations, the benefits of which entrepreneurs are expected to enjoy shortly. She further informed that, under a recently issued NBR circular, tax exemption facilities have been extended for the renewable power production sector until 2035 and she encouraged entrepreneurs to invest in the sector.
During the open floor discussion session, the participating business representatives urged the relevant authorities to formulate a policy to facilitate the import of machinery and equipment used in the optical industry, reduce the tax rate imposed on signing money in the real estate sector, formulate policies for freelance promoters and digital marketing, ensure the regular transportation of container wagons from the port to the Dhaka ICD and expedite container clearance procedures, simplify the process of opening letters of credit (LCs) for new entrepreneurs while adopting a more supportive approach, provide incentives to women entrepreneurs on easy terms, simplify the trade license issuance process, and extend the validity period for trade license renewal from one year to five years.
During the open floor discussion session, the participating business representatives urged the relevant authorities to formulate a policy to facilitate the import of machinery and equipment used in the optical industry, reduce the tax rate imposed on signing money in the real estate sector, formulate policies for freelance promoters and digital marketing, ensure the regular transportation of container wagons from the port to the Dhaka ICD and expedite container clearance procedures, simplify the process of opening letters of credit (LCs) for new entrepreneurs while adopting a more supportive approach, provide incentives to women entrepreneurs on easy terms, simplify the trade license issuance process, and extend the validity period for trade license renewal from one year to five years.
At the end of the exchange of views, 39 business establishments were awarded DCCI membership. DCCI President handed over the membership certificates to the representatives of the newly enrolled member organizations.
DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman, members of the DCCI Board of Directors and representatives from about 100 business organizations were also present at the event.
Published on: 2026-07-11