There is a need to stabilise law and order and enhance business sector consultations, AmCham Bangladesh president Syed Ershad Ahmed emphasised.
He urged the National Board of Revenue (NBR) to set up separate wings for policy and implementation and called for customs automation, elimination of manual signatures and relief from double taxation.
He was worried about the insufficient facilitation of cargo transportation between the inland container depot in Dhaka and the Chattogram port, leading to delays in raw material shipments.
He also underscored the significance of policy stability in attracting long-term investment while strengthening the Bangladesh Competition Commission and intellectual property rights, domestic media outlets reported.
In the textile and recycling industry, stakeholders highlighted the need to remove the value-added tax on recycled cotton, treating it similarly to virgin cotton. This adjustment would foster sustainability, support eco-friendly textile units, and encourage the adoption of circular economy practices within the industry, they observed.
Stakeholders from the energy sector stressed that the ongoing energy crisis could severely impact manufacturing unless proactive measures are taken. The government must prioritise resolving the energy crunch to ensure manufacturers remain competitive in the global market, they noted.
ALCHEMPro News Desk (DS)
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