Companies in the nation are dealing with a wide range of issues, such as bank interest, taxation, VAT, and the currency crisis. However, Mahbubul Alam, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), has stated that the only thing keeping them afloat is their tenacity.
“Bangladeshi entrepreneurs can advance the country in any situation. A sustainable policy would suffice, as sound policies incentivize virtuous entrepreneurs,” he continued.
At the President’s Industrial Development Award 2021 ceremony on Thursday, Mahbubul Alam gave a special speech.
The programme, organised by the Ministry of Industries for the seventh time, was held at the Osmani Memorial Auditorium in the capital. A total of 20 industrial enterprises and entrepreneurs were recognised at the event for their outstanding contributions to the country’s industrial sector.
Industries Minister Nurul Majid Mahmud Humayun, who was the chief guest, made the following statement, “The ministry has made various recommendations to the National Board of Revenue [NBR] for the upcoming budget, considering the interests of businesses.”
“We are working with the NBR to reduce the pressure on you [businesses] regarding VAT and taxes. There needs to be coordination so that businesses do not suffer,” he added.
The Minister continued, “We are going through an unstable global situation, similar to a third world war. Despite this, we have survived. However, the fluctuations in commodity prices have significantly troubled us, putting pressure on our foreign currency reserves and causing some inflation.”
He underlined how crucial it is to boost exports and uphold the high calibre of Bangladeshi goods, which are well-liked throughout the world.
