Stalled prospects
Although the companies mentioned above are already producing or soon to start production, many other local automotive ventures had their venture abruptly halted because of the ongoing pandemic.
Bangladesh Auto Industries Ltd. (BAIL), was planning to establish an electric vehicle factory on Bangabandhu Industrial Park. With an initial investment of $200 million that would total to $1 billion within the next five years, the company planned to manufacture from two-wheelers to sedans, SUVs, pick-ups, mini-trucks, and multipurpose vehicles. Unfortunately, the pandemic slowed down BAIL s plans considerably, with all plans being moved back a year. In an interview with The Daily Star Mir Masud Kabir, managing director of BAIL, said We missed the target as the suppliers could not ship the required equipment on time even though we opened letters of credit earlier on, said Mir Masud Kabir, managing director of BAIL. We were on track before the Covid-19 crisis hit but the
Investment authorities mull over changing corporate structure of country
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DHAKA, April 4, 2021 (BSS) – The Bangladesh Investment Development Authority (BIDA), the Bangladesh Economic Zones Authority and other government investment authorities have considered the corporate structure of the country as a barrier to attracting domestic and foreign investment.
They came up with the thoughts in the pre-budget discussion held at the NBR conference room on Wednesday last where BIDA and Bejar, Bangladesh Export Processing Zones Authority (BEPZA), Bangladesh Hi-Tech Park Authority and Business Initiative Leading Development (BUILD) also took part.
The concerned authorities have proposed a number of reforms in the areas of income tax, VAT and customs for National Board of Revenue (NBR) investors citing that the 2021-22 budget will be for the ‘post-corona economic recovery’.
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Bangladesh Freelancer Development Society (BFDS) has officially launched across the country. Recently, the organisation started its journey by forming a district committee at the Sheikh Hasina Software Technology Park Auditorium in Jashore. The organisation will work in different districts of the country by forming committees continuously.
On November 25 last year, Prime Minister Sheikh Hasina officially inaugurated the issuance of virtual ID cards to ensure the professional identity of six and a half lakh freelancers in the country. BFDS is working to organise these freelancers across the country. We are starting work across the country. Bangladesh Freelancer Development Society will take new initiatives for the development of freelancers, said Tanjiba Rahman, Chairman of BFDS.
Sony to produce smart TVs in Bangladesh
Staff Correspondent
Japanese electronics giant Sony is going to manufacture smart television sets in Bangladesh.
Sony’s local franchisee Rangs Electronics will set up five factories at Bangabandhu Sheikh Mujib Hi-Tech Park in Sylhet to produce different electronic products including Sony smart TV sets.
Rangs Electronics signed an agreement with Bangladesh Hi-Tech Park Authority (BHTPA) in this regard on Sunday.
State Minister for ICT Zunaid Ahmed Palak attended the signing ceremony as the chief guest at Sonargaon Hotel in Dhaka.
Hi-tech Park Project Director Golam Sarwar Bhuiyan and Rangs Electronics Chairman Aktar Hussain were also present.