From the business community, there was a strong demand of implementation of single digit interest rate and a long term policy to attract new investment
Ministry of Industries made of present Commercially Important Person (CIP) cards to 56 businesspeople at Pan Pacific Sonargaon in the capital on Thursday.
Ministry of Industries organized the program to give recognition to businesspeople for their contribution to the country’s economy by establishing industries and creating employment opportunities. Industries Minister Amir Hossain Amu distributed the CIP cards among the recipients.
Amir Hossain Amu addressing the function said: “There are no limits to natural resources in Bangladesh. If Bangladesh can properly utilize those resources, it will be a developed county much before 2041.”
Bangladesh government is establishing 100 Special Economic Zones (SEZs) to attract investment from home and abroad, said the minister, adding, “But we will emphasize on attracting local investment.”
The government aims to create new entrepreneurs as well as nurture the existing one. The recognition through CIP card is to encourage new entrepreneurs, said Amir.
To reduce dependency on outside investment, we have given importance on creating entrepreneurs locally, he added.
From the business community, there was a strong demand of implementation of single digit interest rate and a long term policy to attract new investment.
The Federation of Chamber of Commerce and Industry (FBCCI) President Md Shafiul Islam (Mohiuddin) said: “It is quite impossible to create new entrepreneurs with a 12% to 15% interest rate since it will create defaulters.”
It will take three to five years to implement SEZs, we have to think what can be done by this time, said the trade leader.
Foreign investors especially from Japan, China and India are interested to invest in Bangladesh. So, we have to retain their interest through proper policy, said Mohiuddin.
Speaking on attaining Sustainable Development Goals (SDGs) by 2030, Mohiuddin said, Bangladesh would need investment of Tk 90,000 crores which can be met through investment and employment generation.
A total of 20 business people received CIP cards in the heavy industry (production) category while five in same category for service sector. Under medium industry (production) category 12 industrialists received the CIP cards and three other people in the same category for service sector.
In small industries (production) category five businesspersons received CIP cards while one person in the same category for service sector.
Meanwhile, two other business people received CIP card in micro industry and cottage industry.
In addition, eight top business leaders including former FBCCI President Abdul Matlub Ahmad; Bangladesh Chamber of Industries (BCI) President AK Azad; Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President M Siddiqur Rahman; Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President AKM Selim Osman; Foreign Investors Chamber of Commerce and Industries President Rupali H Chowdhury; Bangladesh Women Chamber of Commerce and Industry President Selima Ahmad; Bangladesh Textile Mills Association President Tapan Chowdhury; and National Association of Small Cottage Industries of Bangladesh (NASCIB) President Mirza Nurul Gani Shovan received CIP cards as ex-officio.