Books written on Bangladesh business and economy in English do not offer a comfortable and satisfactory picture. In this respect, the author deserves plaudits for his sincere effort, writes Raihan M Chowdhury reviewing the book
Basic Issues of Private Investment and
Business --- Bangladesh Perspective
By Abu Sayed Md. Shaykhul Islam, FCMA August, 2016
ICMAB Bhaban,
Nilkhet, Dhaka-1205
Price: Tk 400/-
The book titled Basic Issues of Private Investment and Business---Bangladesh Perspective is indeed a laudatory effort aimed at readers interested in Bangladesh's growing economy.
The book highlights a lot of business related issues. Notable among them are business and investment opportunities in Bangladesh, strategic and demographic competitive advantages, fiscal incentives to both local and foreign private investments, public-private partnership, doing business procedures, legal and social compliance, consumer protection, income tax, VAT, raising funds for business, capital market, IPO, company secretarial issues, company formation, company meetings, company winding up, getting bank loans, off-shore financing, factoring, forfaiting, export & import, garment business, corporate social responsibility etc. The author also focuses on impediments to doing business in the country and presents a few recommendations to overcome obstacles.
The book mentions that under the changed global political and economic environment, Bangladesh remains in the advantageous position to attract foreign investment, and for relocation of industries from other parts of Asia. The writer has come up with adequate information regarding the advantageous position of Bangladesh. He believes that Bangladesh's Bay of Bengal Industrial Growth Belt (BIG-B), enhancement of electricity production, construction of the Padma Bridge, setting up of LNG terminals, the cheap labour cost, launch of one hundred economic zones and the fiscal incentives are set to play an impressive role in attracting foreign investors; particularly those from China and Japan. India's big conglomerates have already been attracted to the country for investment in power and infrastructure building.
The book puts thrust on grooming local entrepreneurs as well as efficient business executives having adequate practical knowledge on business and investment in order to grab business and investment opportunities for Bangladesh.
The publication is expected to act as a guide to private investment and businesses in general. Investors, businessmen, business executives, company secretaries and business journalists may pick the book as a 'hand book' or 'ready reference' owing to its rich contents. There is little doubt that the book will be a helpful one for students in study and those willing to practise business administration and finance. The optimistic developments in the South Asian country's emerging economy and its ongoing integration with the global economy are explained in the book in detail with the application of SWOT (strengths, weaknesses, opportunities and threats) analysis.
The author, a former president of the Institute of Cost and Management Accountants of Bangladesh (ICMAB), has a vast experience in the business and corporate world, and he has properly utilised his knowledge while writing the 356-page book, which is a revised and expanded version of his previous publication---'Doing Business in Bangladesh'.
Books written on Bangladesh business and economy in English do not offer a comfortable and satisfactory picture. In this respect, the author deserves plaudits for his sincere effort to write a book on the country's business, finance and trade.
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