Businessmen from Dhaka’s Dhanmondi-Mohammadpur area on Saturday called for reducing the cost of doing business, automating trade licence and other government services, lowering bank interest rates, simplifying the letter of credit (LC) opening process, and improving the overall law-and-order situation to help the economy withstand global trade volatility and domestic challenges.
The demands came at an exchange of views meeting titled ‘Improving Overall Local Business and Investment Environment,’ organised by the Dhaka Chamber of Commerce and Industry (DCCI) at its New Dhanmondi Convention Hall to identify problems faced by businesses in the area and chart a way forward. Leaders of 15 associations and representatives of around 100 business organisations from the locality attended.
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In his welcome address, DCCI President Taskeen Ahmed said businessmen make a huge contribution to the economy, yet administrative complexities, ambiguity over tax and VAT, and the law-and-order situation remain major obstacles for them.
He added that rising transport costs due to the energy and power crisis, along with the decision to keep shopping malls and shops closed after 7pm, are alarmingly reducing traders' sales and turnover, hurting overall business.
Taskeen noted that the recently announced national budget carries positive signals for businesses, including treating source tax as advance tax, reducing source tax on industrial raw material imports, allocating Tk 500 crore for the CMSME sector, and announcing a stable tax structure for five years.
However, he said the large revenue collection target and the government's reliance on bank borrowing to meet the budget deficit are squeezing credit flow to the private sector, which he described as a concern for the investment climate.
Dhaka South City Corporation’s Chief Revenue Officer Jonayed Kabir Sohag said a zero-tolerance policy has been adopted to reduce public harassment in obtaining trade licences and other city corporation services, which will cut waste of both time and money.
He said, based on a DCCI proposal, the city corporation plans to soon organise a trade licence renewal week at the chamber to make business operations easier for entrepreneurs, while urging city dwellers to pay holding tax and other corporation fees on time.
Dhaka Metropolitan Police (DMP) Deputy Commissioner Md Tareq Zubair said entrepreneurs are working tirelessly to keep the wheels of the economy turning, and this momentum must not be allowed to break.
He said police are continuing to arrest identified extortionists to prevent harassment through extortion. He also said the use of artificial intelligence technology on several city roads to ease traffic congestion has brought relief to residents, and police are actively considering a “Smart Policing-Smart City” project to expand such technology across Dhaka.
Customs, Excise and VAT Commissionerate Dhaka (West) Additional Commissioner Nirjhar Ahmed said global supply chain instability and gaps in local entrepreneurs' capacity have somewhat slowed business and investment in the country, but the initiative to allow VAT returns every three months will help businesses build up capital.
He urged entrepreneurs to adopt advanced technology.
NBR Second Secretary (Tax Policy) Nusrat Farzana said both tax collection and tax incentives are equally important for the government, and the NBR is working continuously to balance the two while easing business operations.
She said the recently passed Finance Act 2026 includes several measures to simplify business processes, the benefits of which entrepreneurs will soon enjoy. She added that a recent NBR circular has granted conditional tax exemption to the renewable energy generation sector until 2035, and urged entrepreneurs to invest in the sector.
Bangladesh Bank Director (Foreign Exchange Investment Policy Department) Mahmudun Nabi said the US dollar and reserve crisis is prolonging the LC completion process for local businessmen, while the high rate of defaulted loans is preventing a reduction in bank lending rates, raising businesses' operating costs.
He proposed effective negotiations with international shipping companies to help cut import costs.
During the open discussion, businessmen called for policies to ease import of equipment used in the eyewear sector, lower tax rates on signing money in the real estate sector, and formulate policies for freelance promoters and digital marketing.
They also sought regular transport of container wagons from the port to Dhaka ICD with faster clearance, a simplified and cooperative LC opening process for new entrepreneurs, easier incentives for women entrepreneurs, and a simplified trade licence process with the renewal period extended from one year to five years.
At the end of the programme, 39 organisations were granted DCCI membership, with DCCI President Taskeen Ahmed handing over membership certificates to their representatives.