Economists, business leaders urge business-friendly budget policies

To boost economic growth and attract foreign investment, business leaders and economists have urged the government to adopt business-friendly policies in the upcoming 2025–26 national budget.

The call was made during a seminar titled 'Fiscal Issues for National Budget 2025–26' held at a hotel in Dhaka on Sunday, May 4. The event was jointly organized by the Institute of Chartered Accountants of Bangladesh (ICAB), the Foreign Investors’ Chamber of Commerce and Industry (FICCI), and the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI).

Participants discussed tax policy, investment climate, and the need for structural reforms.

Chairman of the National Board of Revenue (NBR), Abdur Rahman Khan, was the chief guest. He stated that the government is committed to creating an investment-friendly tax system. He also emphasized increasing Parliament’s role in ensuring more transparency and accountability in tax policy.

The keynote presentation was given by Masrur Reaz and Snehashish Barua, who highlighted rising inflation, sluggish foreign investment, and the urgent need for reforms in governance and debt management. They also pointed to positive trends in exports and remittances and called for consistency in policy-making.

Snehashish Barua stressed the importance of expanding the tax base, modernizing VAT collection, and creating a more investment-conducive environment.

During a panel discussion, industry leaders emphasized modernizing the tax system, simplifying business procedures, and adopting policies that encourage private sector growth.

NBR Chairman Abdur Rahman Khan assured that the government is actively working to address tax-related issues that affect investment. He also announced a key policy reform—**transferring the authority to grant tax exemptions to Parliament, in a bid to improve accountability.

Maria Howlader, president of ICAB, called for pre-defined structures and long-term reforms in tax policy-making.

FICCI President Javed Akhtar advocated for a unified tax system and recommended that tax policy formulation and revenue collection be handled by separate entities.

JBCCI President Tarek Rafi Bhuiyan (Jr) welcomed recent government measures aimed at making it easier to do business in Bangladesh.

Other notable participants in the panel included, Mohammad Iqbal Chowdhury, CEO of LafargeHolcim Bangladesh Limited, Manabu Sugawara**, Country Head of Marubeni Corporation, Yuji Ando, Joint Secretary of JBCCI, Dr. Abdul Mannan Sikder, Former NBR Member, Md. Afzal Hossain, Former Government Secretary

The seminar saw broad participation from both the public and private sectors.