Make doing business easier: DCCI

UNB . Dhaka | Update:

Dhaka Chamber of Commerce and Industry (DCCI) president Abul Kasem Khan on Sunday sought steps to improve environment for doing business in the country.

He said consecutive fall in doing business index hurts the potential of foreign investment in PPP projects.

"To improve the rank in ease of doing business and investment position, PPP Authority can work with BIDA (Bangladesh Investment Development Authority) in a shared taskforce for focused improvement of underperforming criteria in doing business index," he said.

The board of directors of the DCCI led by its president met chief executive officer of Public Private Partnership (PPP) Authority Syed Afsor H Uddin and discussed the issue.

During the discussion, Kasem Khan said 47 projects costing $14bn has been principally approved in PPP office.

Bangladesh is placed at the bottom, ranking 177 in the World Bank report "Doing Business 2018", he said.

 

The DCCI chief said consecutive fall in doing business index hurts the potential of foreign investment in PPP projects.

The DCCI president said the infrastructure Investment to GDP trend is discouraging and still below 5 per cent.

The infrastructure investment to GDP was 2.87 per cent in 2016 which increased to 2.96 per cent of GDP in 2017.

"For minimum 5 per cent infrastructure investment, we require additional Tk. 42,510 crore or equivalent to $5.45bn fund each year," Kasem Khan said.

He proposed to include private sector in the PPP Board for faster implementation of PPP projects in future.

Kasem Khan also proposed to form National Infrastructure Development and Monitoring Advisory Authority (NIDMAA) to faster implement and monitor large mega infrastructure projects.

He also proposed to form an Infrastructure Bond under the stock market for facilitate financing of large infrastructure projects.

CEO of PPP Authority underscored the importance of forming a Public-Private Infrastructure Platform and a National Infrastructure Plan, said a DCCI press release.

The PPP CEO said for proper and timely implementation of mega projects, a national infrastructure execution committee can be formed.

He pointed out some challenges in timely execution of PPP projects for instance finance, skilled manpower, lack of specialist project delivery team and lengthy procedures in feasibility study.

Afsor Uddin also said that by the year 2018 about $1.6 billion will be spent for about 13 mega PPP projects which include road sector, township, tourism sector, health sector, port sector and industrial sector.

He said in terms of investing in PPP projects the investor will get tax and VAT exemption for 10 years from the time of operation.

DCCI directors Akber Hakim, Andaleeb Hasan, Humayun Rashid, Salim Akhter Khan, Waqar Ahmad Choudhury and Secretary General AHM Rezaul Kabir were also present.

   
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