• Sunday, Dec 04, 2022
  • Last Update : 09:54 am

Bernicat for simplification of business processes to attract US investment

  • Published at 04:59 pm October 22nd, 2018
File photo of US Ambassador to Bangladesh, Marcia Bernicat Collected

There is a lot of talks about developing one stop service

US ambassador to Bangladesh Marcia Stephens Bloom Bernicat called for simplification of business processes and improving the ease of doing business, to attract foreign direct investment (FDI) from American businesses. 

The envoy came up with the suggestion on Monday, after a meeting with Commerce Minister Tofail Ahmed at his secretariat office.   

“Every economy of the world requires FDI since countries cannot drive economic growth by only their domestic resources,” said Bernicat.

She added that the barriers to getting investment into a country also slows down the nation’s domestic trade.

There is a lot of talks about developing one stop service. A company has to balance at doing business somewhere else as more expenses are involved to set a business, said the envoy adding that a company wants to do thing effervescently and inexpensively as possible.

“A company that wants to create employment and sell quality products to customers should not have to go to multiple bureaucratic offices to set up their business,” added Bernicat.  

The United States is the single largest export destination for Bangladesh.  Besides, the US is the third largest source for the country’s inward remittance.

Bernicat explained that they were not satisfied with this achievement. They want to increase all indicators, particularly bringing  more US investment in Bangladesh.

She also mentioned the projects of Summit Power with General Electronics as an example of what the US wants to do here. 

Bernicat also praised the government’s efforts in improving the supply of electricity and the quality of Bangladesh’s ports.  

“We have seen tremendous progress in the last three years in electricity generation,” she said, adding that the government has a very aggressive agenda on building more power plants and more diversified electricity.

Secondly, physical infrastructure like roads, bridges and ports are also being constructed for economic growth,  she said.

Underlining faster services at air ports and sea ports, the Ambassador said goods that coming can get released within hours instead of days.

Talking about the business environment, Bernicat said: “Ease of doing business is really important. You don't have to jump by 20 points, but each year ease of doing should be getting better.”

The US Ambassador explained that this will send a very strong signal to investors that this country is serious about attracting investment. Regarding corruption, she said that it exists all over the country.

Every dollar you spend, whether it is public or private, should be useful toward economic growth and products improvement rather than siphoning off, she added.

Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail