Draft policy prepared for allowing investment abroad
Sohel Hossain Patwary
18th April, 2021 11:45:43
The government has prepared the draft of a policy to allow Bangladeshi investors to invest in other countries.
The draft policy titled ‘Bangladeshis Foreign Investment Abroad-2021’ will allow only the local export-oriented businesses to invest in similar businesses in other countries.
According to the draft policy, export-oriented businesses can invest overseas in the form of equity investment. They can invest up to 25 per cent of their net annual export of the past five years as an. Loan defaulters will not get eligible for this opportunity.
The investors will have to bring in the country their receivables profit, dividends, salaries, royalties, technical fees, consultancy fees, commissions within 90 days.
Will leave business if tax anomalies not removed: Syed Nasim Manzur
He criticises ‘hostile’ taxation system
Staff Correspondent 19th April, 2021 09:05:16
Country’s entrepreneurs are subjected to a ‘hostile’ taxation system which is detrimental to boosting local and foreign investments, Managing Director of Apex Footwear Ltd Syed Nasim Manzur has said.
Investors are facing stepmother-like behaviour from the authorities concerned, he said, adding that although an industrialist suffers losses, he/she will not be exempted from the tax under the current system.
Nasim Manzur made the remarks while speaking at a webinar organised by Economic Reporters’ Forum (ERF) as a panelist on Saturday.
Like to leave business if tax anomalies not removed: Syed Nasim Manzur banglamirrornews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from banglamirrornews.com Daily Mail and Mail on Sunday newspapers.
Bangladesh needs to amend tax rules, simplify business procedures and ensure facilities for international investors to attract foreign direct investment, said speakers yesterday. "It is crucial than ever to bring FDIs to tackle the Covid-19 fallout. For this reason, the government should relax rules and ensure competitive facilities," said Mohammad Abdur Razzaque, chairman of
Speakers for tapping FDI potentials in agro processing, light engineering, blue economy
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DHAKA, April 17, 2021 (BSS) – Speakers at a webinar today stressed the need for reforming the taxation system alongside tapping the Foreign Direct Investment (FDI) potentials in a wide range of sectors like agro processing, light engineering, non-cotton apparel, home textile, blue economy and education in the country to ensure export diversification and smooth LDC graduation.
They also suggested for extending the scope for whitening undisclosed money in the health infrastructure, economic zones, and in other infrastructure sectors alongside the existing sectors to create more employment opportunities.
The participants in the webinar also opined that all the concerned stakeholders need to extend their all-out cooperation to the Bangladesh Investment Development Authority (BIDA) to attract more FDI in the country.