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25th Board meeting of the Board of Investment held

The 25th Board Meeting of the BoI was held on 19 July 2010 at the Prime Minister’s Office with the chairmanship of the honorable Prime Minister Sheikh Hasina. The meeting was attended by members of the board including ministers and secretaries. A PowerPoint presentation was made by the BoI official on different issues stipulated in the agenda.

boi_25th_board_meeting

The meeting took decision to abolish the Bangladesh Better Business Forum (BBBF) and approved a 299-member organogram of Board of Investment (BoI). The meeting also reviewed the progress of the decisions taken in the last (24th) meeting of the Board. The approval to use the permission fee fund in selected sectors was also approved by the board. Speaking at the meeting, the premier directed the BoI to take more steps to ease all procedures for the foreign as well as expatriate Bangladeshi entrepreneurs so that they can invest more in the country. She informed the meeting that foreign investors are coming to Bangladesh with more money and they must be given more congenial trade atmosphere to bring momentum to national economy. “More investment would come if we can ensure adequate power and gas for the investors,” she added. Giving a salient features of her government to improve the situation, she said her present government has already added 1000 MW electricity to the national grid along with taking various programs to increase the country’s power generation. About expatriate Bangladeshis, the PM said BOI should extend all necessary supports to them so that they could invest their money to run small businesses in the country without hindrance. Regarding private sector business leaders, Hasina said they should take further steps for the development of trade and business in Bangladesh as part of their responsibility for the country as well as the society. “The business community should be more attentive to improve self-reliant national economy keeping aside their own profit,” she added.

Mentioning the responsibility of businessmen for the society, the PM reminded them that making profit should not be the only motto of the businessmen; rather they have some responsibilities towards society and people. “You have the contribution to keep the country’s economic wheel moving. So you have to keep in mind your responsibilities towards people of the country,” she told the private sector businessmen. She called upon all to lead a life keeping consistency with their income and expenditure. It is not desirable to lead a lavish life by earning money through illegal means, she added.
Regarding payment of tax, the premier asked the authorities concerned to inspire people to pay tax, which will enable the government to spend further for the development of the country. The present government has simplified the tax payment procedures, removing all complications to facilitate the people to pay their taxes, she added. She also asked them to set up food processing industries in the country and expedite export of organic foods, poultry and mushrooms.

Finance Minister AMA Muhith, Textile and Jute Minister Abdul Latif Siddiqui,  Planning Minister Air Vice Marshal (retd) A K Khandaker, Posts and Telecommunications Minister Razi Uddin Ahmed Razu, Labour and Employment Minister Eng  Khandaker Mosharraf Hossain, Industry Minister Dilip Barua, Commerce Minister Lt Colonel (retd) Faruk Khan, Foreign Minister Dr Dipu Moni, State Minister for Energy and Power Adv Shamsul Haque Tuku, State Minister for Science and ICT Architect Yafes Osman, Executive Chairman of BoI Dr S A Samad, FBCCI President A K Azad, Principal Secretary to the Prime Minister M A Karim, Governor of Bangladesh Bank Dr Atiur Rahman and secretaries concerned attended the meeting.

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