STAR BUSINESS REPORT

Extortion continues to be a widespread problem for businesses across the country although eight months have passed since the fall of the previous authoritarian regime, business leaders said yesterday.

“Extortion has become an abscess for businesses. Even now, businesspeople cannot operate without fear,” said Taskeen Ahmed, president of the Dhaka Chamber of Commerce and Industry (DCCI).

He made the remarks while delivering the opening speech at a discussion titled “Importance of Maintaining Improved Law and Order for Easing Trade and Commerce”, held at the DCCI auditorium in Motijheel yesterday.

Ahmed urged the government to ensure a truly investment-friendly environment where enterprises can operate smoothly, transparently, and securely, and called for coordinated policy actions that address law and order challenges directly.

“In this situation, a clear and reasonable expectation from the business community is that they will be allowed to conduct business without fear,” he said.

“At this moment, our top priority must be to adopt a coordinated policy framework and take decisive action, especially focusing on business-related law-and-order issues.”

He stressed the importance of building mutual trust and cooperation among the business community, law enforcement agencies, and city administrations.

“Without a secure and predictable environment, investor confidence cannot be ensured,” he added.

Despite the change in regime, Ahmed noted, the law-and-order situation has yet to improve to the expected level. “Businesses are still worried. Extortion remains a serious threat to day-to-day operations.”

Highlighting further obstacles, the DCCI president pointed to challenges such as online fraud, threats to the transportation of goods, counterfeiting, and cybercrime, all of which are undermining investor confidence.

He also drew attention to a disparity in law enforcement response times. “While the authorities act quickly in the garment sector, small and medium-sized enterprises employing 50 to 100 people are often ignored,” he observed.

Recalling expectations following last year’s regime change, Taskeen said many had hoped for improved governance and stronger law enforcement. “Unfortunately, the opposite has happened. In a country like Bangladesh, ensuring law and order is fundamental for any kind of socioeconomic progress.”