Message from the IBFB President

Dear visitors. Assalamualaikum.

Let me take the opportunity to provide some information on the International Business Forum of Bangladesh (IBFB).

IBFB is a non-profit, non-partisan organization of Bangladeshi and foreign business owners and executives. Working together, our goal is to identify common business challenges, consider solutions, and advocate for change in public policy that will strengthen our business environment and accelerate our country’s economic growth for the benefit of all Bangladeshi citizens

IBFB was formed under the register of Joint Stock Companies and Firms in September 2005, and received support in from the International Republican Institute (IRI) and also receives support from PROGATI(Promoting governance, accountability, transparency and integrity), the U.S. Agency for International Development (USAID).

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Reaction of IBFB on National Budget 2015-16 PDF Print E-mail

Courageous, inspiring & challenging budget,

Bold attempts required to achieve targets of GDP growth & revenue earning.

International Business Forum of Bangladesh (IBFB) termed the National Budget 2015-16 as courageous, inspiring and challenging budget which was declared in the National Parliament by the Hon’ble Finance Minister Mr. A. M. A. Muhit, MP on Thursday, 4th June 2015.

IBFB believes that there is no alternative to such a time-demanding budget so as to transform Bangladesh into a middle income country by 2021. In order to implement such a huge budget effectively, as opined by this nationwide association of business leaders and knowledge based individuals, it is essential to improve the skills and capacity of the Govt. and ensure an enabling, competitive and business-friendly economic environment in the country. Such opinions came in the Press Briefing on “Reaction of IBFB on National Budget 2015-16” organized on Monday, 08 June 2015 at the VIP Lounge of National Press Club, Dhaka where Mr. Hafizur Rahman, President of IBFB presented before the journalist a written statement on the proposed budget. Among others, Mr. Mahmudul Islam Chowdhury, Founding President, Mr. Humayun Rashid, Vice President (Finance), Mr. Ershad Hossain Rana, Director, Mr. M. S. Siddiqui, Director, Mr. A. K. Chowdhury, Chairman of Industry Leadership Committee, Md. Abdus Salam, Executive Director of IBFB, Dr. Md. Mozibur Rahman, Secretary (Retd.) and former Chairman of Tariff Commission etc. were present in the Press Briefing.

 

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The 10th Annual General Meeting of IBFB was held on 19th May 2015 in Dhaka PDF Print E-mail

International Business Forum of Bangladesh (IBFB) organized its 10th Annual General Meeting (AGM) on Tuesday, 19 May 2015 at Hotel Pan Pacific Sonargaon in Dhaka. Ms. Marcia Stephens Bloom Bernicat, Ambassador of USA to Bangladesh spoke as the Chief Guest in the Opening Session of the AGM, where Mr. Kazi Akram Uddin Ahmed, President of FBCCI was also present as the Special Guest. Ms. Amber Brooks, Director, Office of Democracy & Governance, USAID Bangladesh participated as the Chief Guest in the Second Session of the AGM.

Mr. Hafizur Rahman Khan, President of IBFB chaired both sessions of the AGM. Mr. Mahmudul Islam Chowdhury, Founding President, Mr. Md. Omar Shafayat Kausar, Vice President, Mr. Humayun Rashid, Vice President (Finance), Engr. Md. Sakhawat Hossain, Chairperson of Chittagong Chapter and Md. Abdus Salam, Executive Director of IBFB were also present on the Dias.

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Stakeholders Meeting on “Overseas Investment by Bangladeshi Entrepreneurs” PDF Print E-mail

International Business Forum of Bangladesh (IBFB) organized a Stakeholders Meeting on “Overseas Investment by Bangladeshi Entrepreneurs” on Monday, 04 May 2015 at the A.S. Mahmud Seminar Hall (3rd Floor) of the Daily Star Building in Dhaka. Dr. Mashiur Rahman, Hon’ble Adviser (Economic Affairs) to the Prime Minister was present as the Chief Guest in the meeting. Mr. Hafizur Rahman Khan, President, IBFB chaired the Stakeholders Meeting, where Dr. A. K. Fazlul Haque Shah, Professor, Dhaka University presented the Keynote Paper. Mr. Mahmudul Islam Chowdhury, Founding President, Mr. Md. Omar Shafayat Kausar, Vice President and Mr. Md. Abdus Salam, Executive Director of IBFB were also present on the Dias.

The Govt. should allow Bangladeshi entrepreneurs to invest abroad, eminent business leaders opined in the Stakeholders Meeting of IBFB

It was discussed in the meeting that overseas investment by Bangladeshi entrepreneurs is not allowed from the inception of Bangladesh, which is contrary to the government policy of pursuing free market economy. As per Foreign Exchange Regulation Act 1947, no resident or entity is entitled to make payment including FDI to an overseas individual or entity without the prior approval of the Bangladesh Bank. According to the estimates of UNCTAD (2014) the outflow of FDI from Bangladesh is very negligible compared to the inflow. Bangladesh experienced significant growth in FDI inflows among the South Asian countries: from $1.3 billion in 2012 to about $1.6 billion in 2013, whereas its FDI outflow was only below $0.1 billion. It was ranked 85th among the ranked 93 countries according to Stock of Foreign Direct Investment- abroad, 2015 country ranking (CIA World Factbook, 2015). In terms of FDI outflow from South Asian countries, Bangladesh is lagging far behind compared to its other neighboring counterparts.

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