Photo: Taken from the video

DHAKA, July 11, 2026 (BSS) - Business leaders and entrepreneurs today called for reducing the cost of doing business, simplifying regulatory procedures and improving law and order to create a more investment-friendly environment amid global trade uncertainties and domestic economic challenges.

The observations came at an exchange of views titled "Improving the Overall Local Business, Trade and Investment Environment," organised by the Dhaka Chamber of Commerce and Industry (DCCI) at New Dhanmondi Convention Hall in the capital, said a press release.

Entrepreneurs from the Dhanmondi-Mohammadpur area said automation of trade licence and government services, easier access to finance, simplified procedures for opening letters of credit (LCs), and improved security were essential to sustaining business growth.

Speaking at the event, DCCI President Taskeen Ahmed said the country's business community continued to make significant contributions to the economy despite facing administrative complexities, ambiguities in tax and VAT regulations, and law and order challenges.

He said energy shortages and electricity disruptions had increased transportation costs, while the mandatory closure of shopping malls and retail outlets by 7:00 pm had reduced sales and business turnover.

Taskeen, however, welcomed several business-friendly measures announced in the national budget, including treating tax deducted at source as advance tax, reducing source tax on industrial raw material imports, allocating Tk 5,000 crore for the CMSME sector and introducing a stable five-year tax framework.

He expressed concern that the government's ambitious revenue collection target and growing reliance on bank borrowing to finance the budget deficit were crowding out private sector credit and discouraging investment.

Chief Revenue Officer of Dhaka South City Corporation (DSCC) Jonayed Kabir Sohag said the city corporation had adopted a zero-tolerance policy against harassment in obtaining trade licences and other civic services.

He said DSCC, following a proposal from DCCI, was planning to organise a 'Trade Licence Renewal Week' at the chamber to facilitate easier licence renewal for businesses.

Deputy Commissioner (Crime) of Dhaka Metropolitan Police Md. Tareq Zubair said Bangladesh Police had adopted a zero-tolerance policy against extortion and continued drives against extortionists to ensure a safe business environment.

He also said police were considering expanding AI-based traffic management across Dhaka under a proposed "Smart Policing, Smart City" initiative.

Additional Commissioner of Customs, Excise and VAT Commissionerate, Dhaka (West), Nirjhar Ahmed said recent changes allowing businesses to submit VAT returns every three months would improve working capital management and ease business operations.

She also stressed the importance of adopting advanced technologies to enhance the competitiveness of local industries.

Second Secretary (Tax Policy) of the National Board of Revenue (NBR) Nusrat Farzana said the Finance Act 2026 included several initiatives to simplify business operations and balance revenue collection with tax incentives.

She also said tax exemption facilities for the renewable energy sector had been extended until 2035, encouraging entrepreneurs to invest in renewable power generation.

During the discussion, business representatives urged the government to facilitate imports of machinery for the optical industry, reduce taxes on signing money in the real estate sector, formulate policies for freelance promoters and digital marketing, expedite container transport and clearance, simplify LC procedures for new entrepreneurs, provide easier incentives for women entrepreneurs, simplify trade licence issuance and extend trade licence validity from one year to five years.

At the programme, DCCI awarded membership certificates to representatives of 39 newly enrolled business establishments.

DCCI Senior Vice President Razeev H. Chowdhury, Vice President Md. Salem Sulaiman, members of the chamber's board of directors and representatives from around 100 business organisations also attended the event.