The pipe and tube-well sector, traditionally dominated by Old Dhaka’s conventional businesses, has seen a shift in recent years.
Many highly educated young entrepreneurs, including MBA graduates from IBA and specialists in this sector, have taken over their family businesses with renewed passion and innovation.
In an event on Monday, they urged the government to address critical bottlenecks hindering investment and business operations in Bangladesh to continue the business.
They highlighted issues such as tax complexities, tariff barriers, and port demurrage as significant obstacles to fostering a conducive business environment.
At a program organized by the Bangladesh Pipe and Tube-Well Merchant Association at Dhaka Club on Monday, these young business leaders expressed optimism about doing business in the country if the government ensures a favourable investment climate.
The event provided a platform for young entrepreneurs in the pipe and tube-well sector to voice their concerns and propose solutions.
Dr. Muhammad Abdul Mazid, former chairman of the National Board of Revenue (NBR) and current chairman of the Social Development Foundation, attended as the chief guest.
Md Mamun, former commissioner, ward 34, Dhaka South City Corporation, was a special guest at the programme.
Dr. Mazid assured attendees that he would convey their recommendations to the interim government.
As a member of the NBR advisory committee, he encouraged the entrepreneurs to formalize their proposals to facilitate discussions with policymakers.
Dr. Mazid commended this new generation of business leaders for their commitment to contributing to the national economy rather than seeking opportunities abroad. He highlighted their potential to drive transformation in the sector and urged the government to support their efforts by improving the overall business climate.
Solaiman Parsee, a prominent businessman in the sector, emphasized several key challenges that discourage young entrepreneurs from continuing their ventures.
He called for separate tax and VAT policies for large and medium enterprises to prevent big corporations from overpowering small traders.
The event underscored the need for policy reforms to encourage and retain young entrepreneurs in Bangladesh, paving the way for sustainable economic growth.
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