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Posted on Apr 30, 2017 |

ICSB CPD Seminar Held on “”One Stop Service Act 2017 (proposed) initiated by BIDA

ICSB CPD Seminar Held on “”One Stop Service Act 2017 (proposed) initiated by BIDA

“Institute of Chartered Secretaries of Bangladesh (ICSB) organized a Continuing Professional Development (CPD) seminar on “”One Stop Service Act 2017 (proposed)” initiated by Bangladesh Investment Development Authority (BIDA) on Saturday, April 29, 2017 at the Dilkusha Hall of Hotel Purbani International, Dilkusha C/A, Dhaka.

Prof. Dr. F. I Faruque, Tauhidur Rahman Khan, Mohammad Asad Ullah FCS, Kazi M. Aminul Islam, Ajit Kumar Paul FCA, Mohammad Sanaullah FCS, Md. Azizur Rahman FCS

Mohammad Asad Ullah FCS, Chairman, Professional Development Sub Committee presided the Seminar and summed up the whole session. He congratulated the Govt. of Sheikh Hasina, timely reviewed the scenario and decided to reform the BOI substantially and establish a high power investment authority in the name and style: Bangladesh Investment Development Authority (BIDA) and to create momentum in the economy she directed to merge the Privatization Board with BIDA. He further told that Govt. should form a taskforce to cut cost of business to ease doing business and facilitate trade through addressing problems on businesses and to remove complexities in business level. Concerned Ministries, Chambers and trade Associations and business leaders should be the Members of the Task Force under the leadership of BIDA. To monitor the FDI, they should hold meeting every month. He advised that specialized professionals should be appointed by BIDA to provide one stop service to the investors; He also emphasized on lessening the hassle of foreign investors and provide best possible environments for them.

Kazi M. Aminul Islam, Executive Chairman of Bangladesh Investment Development Authority (BIDA) attended the Seminar as the Chief Guest. He said that the proposed Act is going to be enacted soon. The present government has taken some rigorous initiatives to excel the foreign investment in Bangladesh.  This act is one of those steps and we are confident that this act will ease the foreign investment process to gain the vision 2021 set by the Prime Minister Sheikh Hasina. He also expressed that Professional Institute like ICSB should come forward and share their views regarding the development process of the Country. He also mentioned that some of the recommendation made by the Members of ICSB will be taken into consideration before finalizing the One Stop Service Act 2017.

Ajit Kumar Paul FCA, Executive Member and Secretary of BIDA attended the Seminar as Special Guest. He said that Bangladesh is on the path of development and every day we are heading towards. In this 21st century no one can develop alone. We need the foreign investment and to make the country as a lucrative investment destination our acts should be amended. More importantly, the system should more investor friendly so that they get more benefit with their investment. It is not the task of BIDA only, however, all the concerned should come forward and work in line with the plan of present government.

The Keynote Paper was presented by Tauhidur Rahman Khan, Director, BIDA, who explained its salient features and implementation procedures. In his paper, Mr. Khan mentioned that the BIDA OSS initiative is to house 17 Ministries/Departments of the Govt. under an umbrella aiming to easing foreign investments in the country thus to augment the economic development of the nation.

Official Discussant of the session was Dr. Feroz Iqbal Faruqe FCS, former Vice President of the Institute and Md. Azizur Rahman FCS, Council Member ICSB. They gave valuable inputs in their discussion.

Mohammad Sanaullah FCS, the President of the Institute was present as the guest of Honour. In his Speech, he emphasized on the role of Company Secretaries in good governance in attracting foreign direct investment. They can play the pivotal role to grow the confidence of the investors. In most cases, Bangladesh is advancing forward and to institutionalize the process, he further inspired the Chartered Secretary Professionals to apply their knowledge and experience more effectively. He urged to the Chairman of BIDA to include the clause of mandatory appointment of Chartered Secretary in the firms with foreign investments so that they can ensure the compliance with the rules and regulations of Bangladesh.

A lively question answer session was held at the later part of the Seminar while the BIDA Officials answered different questions of the participants.

The Programme was attended by a large number of Members of the Institute who are working in different listed companies of the country and Corporate Leaders were also present on the Occasion.