FBCCI
FBCCI: Tourism must grow enabling Bangladesh to achieve SDGs
The achievement of sustainable development goals by 2030 will be jolted unless a vigorous growth of tourism in the country, said the Federation of Bangladesh Chambers of Commerce and Industry on Monday.
The FBCCI Standing Committee on Tourism Development (Inbound, Outbound, Domestic & Civil Aviation) stated this at its first meeting at its office here.
“At least 6 goals of the SDGs are directly and the rest are indirectly related to tourism. Therefore, if tourism is not flourished, the achievement of sustainable development goals by 2030 will be hampered,” the apex business association said.
Also read: Any rise in power, gas tariff to be suicidal: FBCCISpeakers at the meeting, meanwhile, said some 109 sectors are directly and 1100 sub-sectors indirectly linked with the tourism industry. Every single tourist creates 10 direct and 35 indirect employment opportunities.“Therefore, tourism should be treated as a priority sector” they demanded.Tour operators urged the government to officially announce the country open for foreign tourists as the government declared for overseas businesspeople.
Read Self-reliance in seed production essential for food security: FBCCIThey also demanded the resumption of the “on-arrival visa” facilities to encourage foreign tourists to come to Bangladesh.During the meeting, businesspeople called for issuing licenses to tour operators, recognizing them as exporters, easing the process of remitting money overseas, bringing tourist destinations under the tourism ministry, and ensuring security.
Speaking at the meeting FBCCI Senior Vice President Mostofa Azad Chowdhury Babu said the tourism Industry lacks skilled manpower. The industry may hire experienced managers and other staff from Sri Lanka to deal with the problem.
Also read: FBCCI President urges Canadian companies to invest in Bangladesh’s waste managementRecognizing the government's interest in the tourism sector Vice President MA Momen emphasized securing tourist spots.The coordination between public and private efforts has to be further enhanced, he added.Vice President Md. Amin Helaly called for developing the standard of hospitality services by undertaking skill development programs.
Read FBCCI to boost business with MexicoFBCCI director Syed Moazzem Hossain said the sector must work on compliance, identifying tourism products and country branding as well as rationalizing hotel, motel, and resort fares.FBCCI Director Amzad Hussain informed the meeting that currently, the Tourism sector contributes 3.5 to 4 percent to the GDP. This contribution has to be raised to 10 percent. Therefore, a coordinated course of action has to be formulated and implemented accordingly.The former CEO of Bangladesh Tourism Board Akhtaruz Zaman Khan said that the BTB should incorporate FBCCI representation to bring the private sector demand into consideration.
Read Brand Bangladesh in a new way, FBCCI president urges entrepreneursThe Director in Charge of the standing committee M.G.R. Nasir Majumder assured that the FBCCI would continue to provide maximum assistance for the development of the tourism industry.The meeting was presided over by the chairman of the standing committee Taufiq Uddin Ahmed.Co-Chairman and the members of the committee, FBCCI Director Harun Or Rashid, and Secretary-General Mohammad Mahfuzul Hoque were also present at the meeting.
Read Abolish supplementary duty on locally-produced goods: FBCCI president
Any rise in power, gas tariff to be suicidal: FBCCI
Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) has demanded the government does not raise the tariff of power and gas saying that any rise such utilities would be a suicidal one.
The leaders of the highest business body made the demand while addressing a press conference at its Motijheel office in the city on Saturday.
They said any move to raise power and gas tariff would be detrimental to the country’s trade and industries while they are trying to recover from the shock of the global pandemic Covid-19.
FBCCI president Jashim Uddin read out at written statement while the president of the Bangladesh Textile Mills Association (BTMA) Mohammad Ali Khokon, vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Shahidillah Azim and other leaders of different business organizations were present on the occasion.
Read: Halt road construction works for 14 days to ease Eid travel: FBCCI
The leaders said that this is not the right time to increase the power and gas tariff. “The move has been initiated by the bureaucrats to put the government in an embarrassing situation,” said the FBBCI president.
The call from the top business bodies came against the backdrop of the recent public hearings in response to the two separate proposals, one moved by state-owned Petrobangla to raise gas price at retail level by 117 percent and another by state-owned Bangladesh Power Development Board (BPDB) to raise power tariff at bulk level by 65.57 percent.
Bangladesh Energy Regulatory Commission held the public hearing, but has yet not given any verdict on the proposals.
The FBCCI leaders said the decision on any hike in power and gas tariff should come from the government’s political level, not from the bureaucratic level.
FBCCI president Jashim Uddin said still the government has been purchasing electricity from the very costly and quick rental power plants while there is no utility of such costly plants.
Halt road construction works for 14 days to ease Eid travel: FBCCI
FBCCI wants road construction work to be put on hold for 14 days to facilitate the Eid journeys of the homebound people.
FBCCI senior vice-president Mostafa Azad Chowdhury Babu made the request on Sunday for putting the ongoing construction and repair of roads on hold for a total of 14 days before and after Eid to alleviate the suffering of home goers.
He made the call at the first meeting of the FBCCI Standing Committee on Transport and Communications (Railways, Roads and Highways) held at FBCCI.
Also read: FBCCI President urges Canadian companies to invest in Bangladesh’s waste management
The senior vice-president said that the speed of vehicles slows down due to repair and construction work on roads and highways resulting in huge traffic jams.
The FBCCI Senior Vice President urged the government to put a hold on the construction work from April 27 to May 10 to make the Eid journeys smoother.
He also called for the deployment of highway police at heavy traffic zones.
“The higher authority of the Bangladesh Police should take strict action to stop extortion on the roads,” he said.
The Senior Vice President said that FBCCI will send a letter to the Minister of Home Affairs and IGP requesting to stop extortion.
The senior vice-president also called for increasing the number of ferries and ferry trips to shorten the long queues of the buses and trucks at Mawa and Aricha Ferry Ghat.
Earlier, raising the issue of the financial loss due to traffic jam FBCCI vice-president and director-in-charge of the committee Md. Aminul Haque Shamim informed that the heavy jam at Tongi costs financial loss worth Tk 10 crore daily.
Despite being the most affected sector, the public transport sector, which remained shut down for 18 months, received no government assistance, he mentioned.
In addition, the owners have to pay regular bank installment to avoid being defaulted even if they have no income.
In this situation, he urged the government not to impose any further tax or duty on tires, tubes and other parts in the next budget.
President of the Bangladesh Bus Truck Owners Association and Chairman of the committee Ramesh Chandra Ghosh said that law enforcement members illegally collect money every night at Joykali Mandir and Ittefaq intersection in the capital.
He sought help from police authority to end this situation.
Identifying the public transport sector as the most affected sector during the Corona period, Ramesh Chandra Ghosh called for policy protection for the next three years.
Also read: Self-reliance in seed production essential for food security: FBCCI
In their speeches, other members of the committee said that the longevity of vehicles is being declined due to the potholes and broken roads.
To reduce traffic congestion and bring discipline to the roads, integrated transport management system and decentralization of services and proper implementation of BRTA were stressed at the meeting.
They demanded to stop bribery and extortion in the name of fitness certificates. FBCCI director Bijoy Kumar Kejriwal, Former Director Abdul Haque, Secretary General Mohammad Mahfuzul Hoque, Standing Committee Co-chairmen Eng. Md. Jahangir Alam, M. Humayun Kabir, Faruk Talukder Sohel, Engr. Golam Kabir, G. Rahman Shohid, Bazlur Rahman Ratan and others members of the committee were present in the meeting.
FBCCI President urges Canadian companies to invest in Bangladesh’s waste management
FBCCI President Md Jashim Uddin on Tuesday night urged the Canadian companies to invest in waste management and waste-to-power generation in Bangladesh as the country has a number of reputed companies in this field.
He made the request while speaking at a virtual meeting of Canada- Bangladesh joint working group on strengthening commercial relations.
Also read: Self-reliance in seed production essential for food security: FBCCI
FBCCI president is the Bangladeshi side co-chair of the joint working committee, according to a press release.
Nuzhat Tam Zaman, the Canadian side Co-chair of the Canada- Bangladesh joint working group on strengthening commercial relations, said that Bangladesh has the opportunity to capture the Canadian Outsourcing market.
She said that most of the Canadian companies are used to hiring freelancers from India, Russia and Ukraine for web development, social media management, digital content production and other ITES.
But the Russia-Ukraine war opens the window for Bangladeshi freelancers to enter into the Canadian market, she added.
FBCCI president said that more than 6 lakh skilled Bangladeshi freelancers are working in the global outsourcing market.
FBCCI director and member of the committee Syed Alma Kabir called upon Canadian investors to set up factories and produce solar panels in Bangladesh.
During the meeting both sides put emphasis on trade missions for boosting bilateral trade and commerce.
Thomas Timmins from Canada delivered a presentation on renewable energy while Dr. EH Arefin Ahmed from Bangladesh made his presentation on the pharmaceutical industry of Bangladesh.
Also read: FBCCI to boost business with Mexico
Bangladesh Plastic Goods Manufacturers and Exporters Association President Shamim Ahmed, Former President of Bangladesh Jute Goods Association Shahidul Islam Helal, Canada Bangladesh Chamber of Commerce and Industry President Masud Rahman, Saskatchen Trade and Export Partnership President C Dekker, Additional Commerce Secretary Md. Abdur Rahim Khan, Trade Commissioner of Canadian High Commission, Dhaka Qazi Golam Farhad and FBCCI Secretary General Mohammad Mahfuzul Hoque were present among others.
Self-reliance in seed production essential for food security: FBCCI
Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) on Wednesday urged the government to enhance local capacity of seed production and marketing to reduce severe dependency on its import.
The apex chamber leaders said 93 percent of different crops' seed are imported to meet the local demand while Bangladesh Agriculture Development Authority (BADC) can produce 7 percent of the total demand in the country.
Also read:FBCCI to boost business with Mexico
The self-reliance in seed production necessary for sustainable food security, said the leaders of FBCCI.
In such a situation, the members of the FBCCI's Standing Committee on Agriculture, Agricultural Processing and Agro-based Industries have called for increasing local seed production to make Bangladesh's food security sustainable at their first meeting.
FBCCI President Md. Jashim Uddin was present at the meeting as the chief guest, held at the FBCCI office on Wednesday.
He said that food security is one of the most important issues for any country. The agricultural production kept Bangladesh economy at a relatively better position during Covid-19 epidemic, he added.
The government has taken initiative to turn agro-based industries into export-oriented industries, he said.
The FBCCI Chief urged the private sector entrepreneurs to come forward to invest in this sector.
He said that although Bangladeshi agricultural products are exported their buyers are mainly expatriate Bangladeshis.
An expert’s team has been appointed to conduct research in the London market to find out why these products are not being sold in the mainstream market.
After receiving the research data, the FBCCI President hopes that it will be possible to further increase the export of Bangladesh agricultural products abroad.
“The Organization of Islamic Cooperation (OIC) countries are interested in taking halal food from Bangladesh. Hence there is a lot of potential in this sector.” The President said.
Also read: FBCCI hails Hasina for lighting up Bangladesh
Earlier, the director in-charge of the committee Dr. Ferdousi Begum said huge import dependence of seeds is a risk for the food security of the country.
Tasfia Jashim, co-chair of the committee, said, “54 per cent of the labor force in agriculture is women. Equal pay for this huge number of workers has not yet been ensured. At the same time, women own 10 percent or less of the land.”
Mostofa Azad Chowdhury Bab, senior vice-president of the FBCCI, the chairman of the committee Md. Abul Hashem,FBCCI Director Bijoy Kumar Kejriwal, Harun or Rashid, Secretary General Mohammad Mahfuzul Hoque, Co-Chairmen of the Standing Committee, among others, spoke in the meeting.
FBCCI to boost business with Mexico
A Virtual Business Platform of Mexico – Bangladesh has been launched to create better opportunities and bring the business community of Bangladesh and Mexico on a single platform.
It was launched on Monday night through a webinar organised by Mexican Business Council for Foreign Trade, Investment and Technology (COMCE).
Also read: FBCCI hails Hasina for lighting up Bangladesh
FBCCI President Md. Jashim Uddin said that the relations between the two countries have grown over the years, but have not yet reached its fullest potential.
Highlighting the rapid development and favorable investment policy in Bangladesh, the apex trade body chief urged Mexico to invest in R&D in the thriving sectors with new innovation like agro-based products, frozen fish, FMCG, diversified jute and leather goods, automobile pharmaceuticals, plastic goods, home furnishings and home textiles, light engineering, ceramics, home appliances furniture and information technology.
FBCCI Director Abul Kasem Khan presented a power point presentation on trade and investment opportunities and potentials in Bangladesh and Mexico.
Also read: FBCCI to set up trade centre in Dubai
Mexican non-resident ambassador to Bangladesh Federico Salas Lotfe, Ambassador of Bangladesh to Mexico Abida Islam, Vice Chairman and Chairman of the Asia Pacific Business Section, COMCE Amb. Sergio Ley, Vice-chairman of the Asia Pacific Business Section, COMCE Agustin Garcia Rechy, FBCCI Director Prity Chakraborty and Secretary General Mohammad Mahfuzul Hoque were present at the webinar where it was moderated by Manager of the Asia Pacific Business Section, COMCE Jessica Ortiz.
FBCCI to set up trade centre in Dubai
The country's apex trade body Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) will set up a trade centre in Dubai to further boost business and investment between Bangladesh and the UAE.
A memorandum of understanding (MoU) was signed between the Bangladesh Business Council (BBC) of Dubai and the FBCCI in the Gulf city on Friday.
According to the agreement, BBC-Dubai will co-operate in setting up the FBCCI trade center in Dubai.
The FBCCI will undertake activities of coordinating and promoting trade and investment and commerce between Bangladesh and the UAE.
READ: Expo 2020: FBCCI, Dubai International Chamber to sign MoU
The FBCCI trade centre will work to strengthen business relations with other countries by using Dubai as a hub. The trade centre will provide various assistance to UAE businessmen interested in investing in Bangladesh, according to a press release.
President of FBCCI Md Jashim Uddin and founder president of BBC-Dubai Mohamed Mahtabur Rahman signed the MoU on behalf of the two trade bodies, respectively.
BSEC chairman Prof Shibli Rubayat-Ul-Islam was present as the chief guest at the MoU signing ceremony.
READ: FBCCI urges govt to lift VAT on edible oil import
Among others, FBCCI senior vice president Mostofa Azad Chowdhury Babu and vice president Md Habib Ullah Dawn were present on the occasion.
Brand Bangladesh in a new way, FBCCI president urges entrepreneurs
FBCCI President Md. Jashim Uddin on Saturday called upon the entrepreneurs of garments and textile industries to diversify their investments and brand Bangladesh in a new way.
The president made the call at the first meeting of the standing committee on RMG, knitwear and sweaters at the FBCCI office.
He said that most entrepreneurs are interested in investing in cotton-based garment and spinning sector.
“However, now the demand for manmade fiber clothing is increasing in the world market, and the price is also higher,” he said.
The President urged the entrepreneurs in the readymade garments and textile sectors to invest in the man-made fiber sector.
Read: Strict monitoring to check price hike of commodities during Ramadan: Munshi
He mentioned that exporters are gradually losing the advantage of cheap power, energy and labour.
Despite being the second largest exporter of readymade garments, he said, Bangladesh mainly exports relatively cheap garments.
Jashim Uddin said that the prices of raw materials are constantly rising. Therefore, in order to continue to growth of the industry, exporters must now focus on exporting high value garments, he said.
Speaking as the chief guest at the meeting, the president said a safety council has been set up at the FBCCI to ensure the safety of non-export-oriented factories.
The Safety Council is working with BIDA to secure all the industries in the country, he added.
Faruque Hassan, chairman of the committee and president of BGMEA, said a study is going on to explore the new items which the producers might be good at, and also to identify the new opportunities to expand their investments.
“Exporters are often reducing the prices of their products by competing with each other,” he said.
The BGMEA president called for an end to the competition.
Meanwhile, BKMEA executive president Mohammad Hatem proposed to form different sub-committees on the banking and financial sector, power and energy, finance ministry and labor ministry to solve problems of the garment industry.
Read: Remittance inflow down by $ 3.25 billion in 8 months of FY 22
The members of the committee present at the meeting said that harassment of the Customs and Bond Commissionerate is now the biggest problem for them.
Businessmen are also facing hurdles in importing various raw materials due to HS code complications.
Entrepreneurs also think that the law needs to be amended for wastage recycling.
FBCCI Director and Director-in-Charge of the Standing Committee on Land Ports, Bijoy Kumar Kejriwal said the committee would do its utmost to help resolve any issues regarding land port.
FBCCI Director Harun Or Rashid, Secretary General Mohammad Mahfuzul Hoque, Standing Committee Co-Chairman Abdullah-al-Mahmud Mahin, Enthekhabul Hamid Apu, Shams Mahmud, Fazle Shamim Ehsan, Mohammed Kamal Uddin, Anjan Shekhar Das, Humayun Kabir Selim were also present among others.
Abolish supplementary duty on locally-produced goods: FBCCI president
FBCCI President Md. Jashim Uddin on Saturday advocated abolishing the supplementary duty on locally produced goods for the sake of promoting domestic industry.
He made the remark at the first meeting of the FBCCI's standing committee on Budget, Import Duty, Income Tax, VAT and other taxes held at the FBCCI office.
During the meeting, Md. Jashim Uddin said that after the LDC graduation, the government cannot protect the domestic industry as it is now. Therefore, initiatives should be taken to strengthen the local industry through tax and duty exemption till 2026.
The FBCCI president urged the government not to impose any supplementary duty on domestically produced products in the next fiscal budget.
Also read: FBCCI to establish UAE -Bangladesh Joint Council in Dubai
At the same time, the President said, there has been a positive growth in exports despite the Covid situation.
However, he said that the export earnings have increased mainly due to increase in prices of raw materials in the world market and the profits of the traders did not increase.
He urged not to impose any new tax in the next budget.
The FBCCI chief demanded an assessment of whether the various automation projects undertaken by the government in revenue management are being implemented properly.
Md. Farid Uddin, panel advisor of FBCCI and a former member of the NBR, said that due to various amendments in 2019, the VAT Act-2012 has now become the Sales Tax Act.
He recommended a fundamental reform of the law. He urged the Board of Revenue to remain accountable to the business community so that businessmen are not harassed by the tax officials.
Also read: FBCCI President urges expatriate Bangladeshi businessmen to invest in economic zones
At the meeting, BTMA President Mohammad Ali Khokon demanded repeal of tariffs on man-made fiber in the forthcoming budget, a single rate of duty on imports of spare parts, and retention of 15 per cent corporate tax on textiles till 2030.
Committee member and FICCI advisor Snehashish Barua suggested rationalizing the advance tax rate and formulating a single rate of VAT in the next budget.
Representatives of various associations and chambers also complained about irregularities and harassment of VAT officials. They also demanded that the VAT collection process be brought under full automation.
FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Salahuddin Alamgir, Md. Habib Ullah Dawn, MA Razzak Khan Raj, Director Harun Or Rashid, Amjad Hussain, Md. Naser, Dr. Nadia Binte Amin, Syed Sadat Almas Kabir, Abul Kasem Khan and FBCCI Secretary General Mohammad Mahfuzul Hoque were present.
FBCCI to establish UAE -Bangladesh Joint Council in Dubai
The Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) is going to establish UAE- Bangladesh Joint Business Council in Dubai to tap the business and investment potentials in the Middle East countries, Africa and Europe.
The Business council will be inaugurated during the visit of the Prime Minister of Bangladesh to Dubai next month.
The council will be co-chaired by the president of the FBCCI and the Chairman of the Federation of UAE Chambers of Commerce and Industry.
Read: BB relaxes ICRRS to facilitate businesses’ loan
A preparatory meeting held at FBCCI on Saturday ahead of the launch of the business council disclosed this information.
At the meeting, FBCCI President Md. Jashim Uddin said that the establishment of the Business Council with the Federation of UAE Chambers of Commerce and Industry would make it easier to capture the export market of the Middle East and Africa.
Jashim Uddin said this initiative of FBCCI will create an opportunity to explore new markets for Bangladesh in the Post-LDC period.
Read FBCCI: Tourism must grow enabling Bangladesh to achieve SDGs
Naser Ezaz Bijoy, president of the Foreign Investors Chamber of Commerce and Industry (FICCI) recommended that five sectors be included in the FBCCI's presentation at the opening ceremony of the council.
The sectors include agricultural and halal food products, light engineering especially car parts, financial sector, petrochemical, and port management.
Syed Muntasir Mamun, DG of the International Trade and Investment wing of the Ministry of Foreign Affairs recommended seeking UAE investment in ICT, ITES, artificial intelligence, private equity, aviation, shipping, and value-added agro services.
Read Any rise in power, gas tariff to be suicidal: FBCCI
FBCCI Director Abul Kasem Khan highlighted the potential for investment in the tourism hospitality sector and in the private port sector. He also demanded that Bangladeshis be given the opportunity to invest in Dubai.
CPD's research director and FBCCI's panel advisor Dr. Khandaker Golam Moazzem said the UAE is currently looking for a global strategic partner for development.
As part of that, the country has recently signed a free trade agreement with India. Bangladesh should also do FTA with UAE, he added.
Read: BRAC continues emergency services for Rohingyas, locals amid Covid-19 pandemic: BRAC Global ED
Channel I Head of News and FBCCI's panel advisor, Shykh Siraj said there is a huge demand for Bangladeshi vegetables and seeds in the UAE.
To take advantage of this potential, joint initiatives can be taken in the field of nursery and food processing, he added.
He said that the two countries should also work together to train skilled manpower and halal food certificates.
Read FBCCI President urges Canadian companies to invest in Bangladesh’s waste management
The other FBCCI panel advisor and BIDS senior research fellow, Dr. Kazi Iqbal said the Joint Business Council should be used to develop the image of Bangladesh as the growth narrative of Bangladesh has changed in the last few years.
The development of Bangladesh is no longer dependent only on readymade garments and remittances, he said.
He mentioned that the country has created opportunities for foreign investment in numerous sectors including electronics and plastics.
Read Self-reliance in seed production essential for food security: FBCCI
He stressed the need to present Bangladesh properly by informing the global entrepreneurs about these issues.
Also present at the meeting were FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md. Habib Ullah Dawn, M.A. Razzak Khan Raj, Director Syed Almas Kabir, Dr. Nadia Binte Amin, DCCI President Rizwan Rahman, BPGMEA President Shamim Ahmed, and Secretary-General of FBCCI Mohammad Mahfuzul Hoque.