The government has officially announced formation of the first-ever public-private business forum styled ‘Bangladesh Better Business Forum’ (BBBF), basically designed to improve interaction between the business community and government high-ups. Chief Adviser (CA) Fakhruddin Ahmed is chairperson of the 38-member BBBF, which will have a secretariat attached with the Board of Investment (BoI) under the supervision of the CA’s office.

The CA’s office in a notification on Sunday announced formation of the BBBF. It said against the backdrop of the present international and domestic economic and trade situations, it is essential to maintain ‘favourable’ and ‘suitable relations’ between the government and private sector.

The notification also said it is necessary to have such a forum to achieve sustainable economic growth, especially by maintaining an investment and business-friendly atmosphere in the country.

Welcoming the government initiative, Mir Nasir Hossain, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said, “The business community can discuss with the government’s highest policy makers through this forum.”

The FBCCI president believes that the BBBF will restore the country’s investment climate and local businessmen’s confidence as well.

“It is good that BBBF has come into being at the right time,” said Anwar-Ul-Alam Chowdhury Parvez, president of Bangladesh Garments Manufacturers and Exporters Association (BGMEA), while talking to The Daily Star yesterday.

He however said every issue on the agenda to be tabled for discussion at the forum should have a time frame so that problems in the business sector could be solved without any dilemma as was usual.

Earlier, when the country’s business community was facing uncertainly over political instability, the chief adviser proposed formation of the BBBF at a September 5 dialogue between the government and businessmen.

The finance and planning adviser has been made executive chairperson of the BBBF while the executive chairman of Board of Investment (BOI) will act as its member-secretary.

The members of the forum include the advisers for industries, communications, power, energy and mineral resources, law, justice and parliamentary affairs and foreign affairs, the army chief, cabinet secretary, principal secretary or secretary to the chief adviser, Bangladesh Bank governor, principal staff officer of the Armed Forces Division, chairman of the National Board of Revenue, finance secretary, commerce secretary, industries secretary, law secretary, FBCCI president, DCCI president, CCCI president, MCCI president, Dhaka, BGMEA president, president of Bankers Association of Bangladesh, president of Consumers’ Association of Bangladesh, Renowned economist Prof Muzaffer Ahmad, founder and chairperson of Brac Fazle Hasan Abed, BKMEA president, BTMA president, former president of Bangladesh Frozen Food Exporters’ Association Syed Mahmudul Huq, Managing Director of Renata Ltd Syed S Kaisar Kabir, director of Kazi Farms Ltd Kazi Zisan Hasan, Group CEO of Rahimafrooz Bangladesh Ltd Samir Asaf, MD of Information Solution Ltd Syed Shapir Khasru, Chairman of AKTEL Bangladesh Salahuddin Kashem Khan, Chairperson of Bangladesh Tea Association Laila Rahman Kabir and professors of economics at Dhaka University Dr Md Ali Taslim and Dr SM Asikuzzaman.

The forum will meet at least thrice a year with the chief adviser in the chair, and at least once in every two months with the executive chairman presiding.

There will be a number of working groups to implement the aims and objectives of the BBBF.

The groups will work in the areas of foreign direct investment, and investment promotion, sectoral development, tax policy, import, export (including readymade garments), infrastructure for private sector development, privatisation, ICT and human resource development, domestic industries, World Trade Organisation issues and international trade negotiation.