Federation of Bangladesh Chambers of Commerce and Industry and Business Initiative Leading Development signed a memorandum of understanding for private sector development on Wednesday. FBCCI president Abdul Matlub Ahmad and BUILD chairman Asif Ibrahim signed the MoU at a ceremony held in Dhaka, said a news release. The MoU aims to establish a formal professional network, strengthen mutual cooperation and enable exchanges of opinions and ideas with a view to facilitate a robust public-private dialogue platform for a transparent and conducive business environment in Bangladesh, said the release. It said both parties agreed to intensify collaboration in research, and jointly support research-based projects that will provide benefits to business community through policy simplification. FBCCI director Shafquat Haider, adviser Manzur Ahmed and BUILD chief executive officer Ferdaus Ara Begum were present, among others.