International Business Forum of Bangladesh (IBFB) recently organized a meeting with John Fay, the US commercial counselor to Dhaka, in its premises located in the capital.
John Fay shed light on different issues related to business environment in Bangladesh.
In presence of Fay, IBFB President Humayun Rashid showcased the role and functionaries of IBFB.
IBFB Directors and members were present at the event.
Among others, AF Hassan Ariff, senior advocate, former Attorney General of Bangladesh and Former Advisor of Caretaker Government; Major General Mohammad Shamim Chowdhury (retired), chairman, Governmental Relation and Advocacy Committee, IBFB; Dr. Muhammad Abdul Mazid, Chairman, Finance Committee, IBFB and Former Secretary and Chairman, NBR; Mahmudul Islam Chowdhury, Founding President, IBFB and Lutfunnisa Saudia Khan, Vice President Finance, IBFB, were present at the meeting.
John Fay underscored the need for ensuring a commendable business environment in Bangladesh for the sake of world business community.
US investors are facing same problems in doing business in Bangladesh owing to problematic business environment, he also said.
He also said Bangladesh should emphasize on compliance issues related to all affairs.
There are huge challenges lying ahead but we are going through the challenges in taking business relations ahead, Fay added.
Responding to queries made from IBFB members, Fay assured that US side must be positive concerning business demand arising from business people in Bangladesh.
The US believes in full-fledged compliance and integrity in all affairs mostly related to trade and commerce. The businesses in Bangladesh will definitely see better days in the days to come despite difficult situation, while adding that Indo-Pacific Strategy initiated by the US must be fruitful for the business community, he added..
IBFB Vice President MS Siddiqui said that business environment in Bangladesh is gradually improving but the existing environment is not acceptable to foreign investors.