DHAKA, Aug 27, 2024 (BSS) – Adviser to the interim government on the Ministries of Finance and Commerce Dr Salehuddin Ahmed today urged the country’s business community to do business transparently, honestly and sincerely.

“Please do business transparently and honestly and don’t make any transaction under the table,” he told reporters after a group of country’s leading businessmen met him at his ERD office this afternoon.

Responding to the businesses’ concern over the law and order situation, the Adviser assured them of providing necessary security alongside taking prompt steps of issuing LCs as well as ensuring that there is no congestion in the airports and seaports for loading and unloading of goods.

Asked about the demand from the RMG sector to provide soft loans to deal with the current situation, Dr Salehuddin suggested them to hold meeting with the Bangladesh Bank Governor in this regard.

About the outcomes of meeting, he mentioned that trade and commerce are a very important part of the country’s economy as those generate employments and expedite growth.  

As the demands raised by the business community are not huge, the government would take efforts to resolve those although the previous government ignored many of their demands, he added.

The Finance and Commerce Adviser said he had also assured some foreign buyers, who were present in the meeting, that their investment opportunities would be good here in Bangladesh side by side the law and order situation and banking facilities would remain favourable for them.

“We’ve assured them (foreign buyers, investors) and I think they are confident. They have told me that there has been a new beginning in Bangladesh,” he added.

Referring to Bangladesh’s trade and economic partnership with the UK, he said that the UK is a very large market for Bangladesh’s RMG products while they are willing to expand it.

Besides, he also urged them to diversify the items that the UK imports from Bangladesh other than the RMG.

Emerging from the meeting, former FBCCI president AK Azad said that they have requested the Adviser for taking steps to delay the process for LDC graduation by three more years to 2029 instead of the 2026 period.

Besides, he said the business leaders also demanded for bringing necessary reforms in the trade bodies and associations as early as possible and thus giving elections to those to elect the new leadership.

Azad, also a renowned industrialist and businessman, said that they have raised the issue of current law and order situation before the Finance Adviser side by side easing up congestions at the airports and seaports to ensure smooth shipment of goods.

He said if these negative sides are not addressed, they might have to think for shifting their businesses to other countries.

So, the main focus of the business community was to improve the law and order situation, sample clearance and easing congestion at the Chattogram Port.

Referring to the probable withdrawal of EDF facility from the central bank and cash incentives as well as scarcity of US dollars, Azad said if these things are not addressed, there would be a negative impact on the country’s business operations.

In this regard, the Adviser suggested the business community to sit with the central bank governor.

Azad said the Finance Adviser also suggested them to coordinate with the law enforcement agencies like police, RAB apart from Bangladesh Army to improve the law and order situation.

The former FBCCI president also raised the issue of some incidents of extortions in some places in the industrial arena, which the Adviser has given assurance of giving proper attention.

ICC-B Bangladesh president Mahbubur Rahman, former FBCCI president Mir Nasir Hossain, BKMEA president Mohammad Hatem, Tapan Chowdhury of Square Group were present, among others, at the meeting.