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The necessity of obtaining the many licences and certificates for a business and frequent renewals are badly hurting the local entrepreneurs and investors, businesses said yesterday.
The business organisations have to renew many certificates every year, which is particularly problematic for small-scale industrial units, said Md Saiful Islam, president of the Metropolitan Chamber of Commerce & Industry, Dhaka (MCCI).
These registrations should have a validity period of at least five years, he said.
The state of a business organisation can be inspected every year. Registration can be cancelled if there is any problem. But registrations should have long-term validity, he added.
Islam was speaking at a “First Quarterly Luncheon Meeting” organised by the chamber at Police Plaza Concord in Dhaka.
Even though Bangladesh Investment Development Authority launched a one-stop service to facilitate investors, many obstacles arise at various departments when services are sought on the ground, said Uzma Chowdhury, a director of Pran-RFL Group.
“If these could have been properly delivered, we would not have to visit many offices,” she added.
“According to a companies act, we can do all kinds of work under a company but in reality, we have to individually register for each with different departments,” she said.
“If we could get permission to do multiple businesses under one company, we would be able to produce many products with a single machine. So, it would be easier to do business without such additional registrations,” she added.
The implementation of decisions taken at the government level is very slow on the ground in many cases, said Nihad Kabir, former president of the MCCI.
She recommended that a Private Sector Development Policy Coordination Committee of the Prime Minister’s Office be more active.
Besides, it is necessary to give new government officials a good idea about public-private partnerships in their basic training while activities of a National Skills Development Authority should also be increased, she said.
Humayun Rashid, managing director & CEO of Energypac, said he had to obtain 28 types of certificates from 28 government agencies for investing in the LPG sector.
“It is very challenging. This process needs to be simplified,” he said.
Joining the event as chief guest, Mohammad Tofazzel Hossain Miah, principal secretary to the prime minister, said the country has already made a lot of progress in the infrastructure sector.
However, the scope of business financing should be increased. Besides, to adapt to the changing world, necessary policy changes and reforms should be brought about, he said.
Apart from this, more focus should be given on laws pertaining to intellectual property while the government institutions need to be strengthened to implement the government’s decisions, he added.
(TDS)
