Businesses, experts call for business-friendly policies in upcoming budget

Businesses and economic experts on Sunday urged the government to adopt business-friendly policies in the upcoming national budget to help stimulate economic growth and attract foreign investment.

The call came during a seminar titled ‘Fiscal Issues for National Budget 2025–26 to Foster Economic and Business Growth,’ jointly organised by the Institute of Chartered Accountants of Bangladesh (ICAB), the Foreign Investors’ Chamber of Commerce & Industry (FICCI), and the Japan-Bangladesh Chamber of Commerce & Industry (JBCCI).

Chairman of the National Board of Revenue (NBR) Md Abdur Rahman Khan attended the event as the chief guest, held at a city hotel.

In their keynote presentations, Dr M Masrur Reaz and Snehasish Barua FCA highlighted key challenges such as persistent inflation and declining foreign investment, underscoring the need for structural reforms in governance and debt management.

They also noted positive trends in exports and remittances but stressed that policy consistency and comprehensive fiscal reform are essential.

Barua called for expanding the tax base, modernising the VAT system and fostering an investment-friendly business environment.

Industry leaders echoed these priorities during a panel discussion.

NBR Chairman Khan noted that the government is actively working to resolve tax issues affecting investment and is committed to presenting a responsible and transparent budget.

He announced a significant policy move — transferring the authority to grant tax exemptions to Parliament, aimed at ensuring greater accountability.

ICAB President Maria Howlader stressed the importance of predictable tax policies and long-term structural reforms.

FICCI President Zaved Akhtar advocated for an integrated tax system and recommended separating tax policy formulation from revenue administration.

JBCCI President Tareq Rafi Bhuiyan (Jun) welcomed the government’s focus on improving the ease of doing business.

The panel discussion featured leading industry figures, including Mohammad Iqbal Chowdhury (CEO, LafargeHolcim Bangladesh Limited), Manabu Sugawara (Country Head, Marubeni Corporation), Yuji Ando (Joint Secretary General, JBCCI), Dr Abdul Mannan Shikder (Former NBR Member) and Md Afzal Hossain (Former Secretary to the Government).

The seminar brought together a wide range of participants from both business and government sectors.