STAR BUSINESS REPORT

Members of the Dhaka Chamber of Commerce and Industry (DCCI) can now enjoy online facilities for renewing the trade licence of their businesses registered with the Dhaka South City Corporation (DSCC).

Besides, their trade licenses will remain valid for a period of one to five years, doing away with the hassle of having to renew them annually.

Effective from July 1, the DSCC and DCCI yesterday signed a memorandum of understanding (MoU) to this end at the latter’s office in Motijheel, Dhaka.

After the signing, DSCC Mayor Sheikh Fazle Noor Taposh said they aim to provide extended services to members of the DCCI and thereby improve the ease of doing business in Bangladesh.

“The MoU is a milestone initiative in public-private partnerships to steer economic development in the country,” he added.

Taposh also said that even though the provision for renewing trade licenses by up to five years exists on paper, there was no practical implementation until now.

He informed that without increasing any of the trade license fees or holding tax, the DSCC made a profit of about Tk 524 crore in the last three years.

The DSCC mayor then inaugurated the online trade license renewal process at DCCI, handing over renewed licenses among DCCI members on the spot.

Dhaka contributes about 36 per cent of the total gross domestic product of Bangladesh, Taposh said.