FY26 budget will not boost investor confidence: FICCI

The proposed national budget for FY2025-26 will not enhance the confidence of foreign investors, said Zaved Akhtar, president of the Foreign Investors’ Chamber of Commerce and Industry (FICCI).

He made the remarks while speaking at a post-budget press conference at the FICCI Auditorium in the capital on Wednesday.

“The interim government has proposed a number of commendable measures to improve business efficiency. However, unless the tax net is broadened, businesses will come under pressure. In fact, the burden on compliant companies will increase,” he said.

Zaved emphasised that attracting foreign direct investment (FDI) largely depends on policy consistency, ease of doing business, and the level of trust in a country.

“Investors plan for 50 years. So, maintaining policy consistency is crucial. I invested Tk250 crore last year with a 50-year plan in mind. We must work structurally to bring in more FDI,” he added.

Former FICCI president Rupali Haque Chowdhury said a fully automated customs system is needed to widen the tax net.

Another former president, Naser Ezaz Bijoy, urged the interim government not to impose excessive pressure on businesses to meet the conditions set by the International Monetary Fund (IMF).

Presenting the keynote paper, FICCI consultant Snehasish Barua recommended forming a central monitoring cell to boost revenue collection.