General

Anisul for amending laws to increase investment

DHAKA, Feb 2, 2017 (BSS) - Law, Justice and Parliamentary Affairs Minister Anisul Huq today called for changing, revising and amending to the concerned laws to increase investment in the country.

"There is no alternative to increase investment for turning Bangladesh into a developed country by 2041. But due to some legal difficulties, the investments are getting delayed. Besides, investment climate of international standard is also needed to fetch more investment," Anisul said.

The minister was talking to newsmen after holding a meeting with Bangladesh Investment Development Authority (BIDA) executive chairman Kazi M Aminul Islam at his secretariat office.

Anisul said the BIDA boss also drew his attention towards amending to and ratifying four or five concerned laws, adding, the ministry also giving due importance to this end.

"The existing Customs Act was formulated in 1969. We will formulate Customs Act afresh. We need to change, revise and amend to some sections of companies act. Though the contract act is very effective, but we will have to change it a little to make it updated. Other than these, we need to make some changes in arbitration act and insolvency act," Anisul added.

Replying to a question, the minister said the matter can be placed before the parliament during the session designated for passing different acts prior to the budget session.

"Some changes will be made right now and some will be made gradually," the law minister said.

Source: Bangladesh Sangbad Sangstha (BSS)