Bangladesh Trade Center

Tag: #Bangladesh Investment Opportunities

  • Welcoming Business Delegations to Bangladesh [P-2]

    Welcoming Business Delegations to Bangladesh [P-2]

    Welcoming Business Delegations to Bangladesh [P-2]

     

    Md. Joynal Abdin*

    Business Consultant & Digital Marketer

    Founder & CEO of Trade & Investment Bangladesh

    Networking Opportunities:

    In the vibrant landscape of Bangladesh’s business community, networking events, business forums, and industry conferences serve as invaluable platforms for forging connections, fostering collaboration, and unlocking new opportunities. Here, we highlight some of the key networking avenues where delegates can connect with local businesses, government officials, and industry leaders, and explore the benefits of building relationships and partnerships within the Bangladeshi business ecosystem.

     

    Networking Events and Business Forums:

    • Chambers of Commerce Events: Bangladesh is home to various chambers of commerce and industry associations that regularly organize networking events, seminars, and workshops. Events hosted by organizations such as the Dhaka Chamber of Commerce and Industry (DCCI) and the Bangladesh Association of Software and Information Services (BASIS) provide opportunities for delegates to engage with industry peers and explore collaboration prospects.

     

    • Trade Fairs and Exhibitions: Trade fairs and exhibitions are significant events in Bangladesh’s business calendar, attracting participants from diverse sectors and industries. Events like the Dhaka International Trade Fair (DITF) and the Bangladesh International Trade Fair (BITF) offer a platform for delegates to showcase their products and services, interact with potential partners, and stay abreast of industry trends.

     

    • Business Networking Clubs: Several business networking clubs and organizations operate in Bangladesh, facilitating interactions among professionals from various backgrounds. Networking clubs like the Bangladesh Business Club (BBC) and the International Business Forum of Bangladesh (IBFB) host regular networking sessions, business luncheons, and social events, providing delegates with opportunities to expand their networks and exchange insights.

     

    Industry Conferences and Seminars:

    • Sector-Specific Conferences: Industry-specific conferences and seminars bring together stakeholders, experts, and thought leaders to discuss emerging trends, challenges, and opportunities within a particular sector. Whether it’s the Bangladesh Apparel and Textile Exposition (BATEXPO) for the garment industry or the Bangladesh Energy Summit for the energy sector, delegates can gain valuable insights, establish contacts, and explore partnership avenues.

     

    • Investment Forums: Investment forums and summits provide platforms for dialogue between investors, government officials, and business leaders, with a focus on promoting investment opportunities and fostering economic growth. Events like the Bangladesh Investment Summit and the Bangladesh Economic Forum offer delegates insights into investment prospects, regulatory frameworks, and market dynamics, facilitating informed decision-making and partnership building.

     

    Benefits of Building Relationships in Bangladesh’s Business Community:

    • Access to Market Insights: Building relationships with local businesses, government officials, and industry leaders provides delegates with valuable insights into the Bangladeshi market landscape, consumer preferences, and regulatory environment, enabling informed decision-making and market entry strategies.

     

    • Opportunities for Collaboration: Networking fosters collaboration opportunities, including joint ventures, partnerships, and business alliances, which can enhance market penetration, expand product offerings, and drive innovation.

     

    • Government Liaison and Support: Establishing connections with government officials and policymakers can facilitate dialogue, advocacy efforts, and access to support mechanisms such as incentives, regulatory guidance, and infrastructure development initiatives.

     

    • Cultural Understanding and Trust: Networking fosters cultural understanding, trust, and mutual respect, essential elements for building enduring relationships and navigating business dynamics in Bangladesh effectively.

     

    Networking events, business forums, and industry conferences play a pivotal role in connecting delegates with the vibrant and dynamic Bangladeshi business community. By actively participating in these networking avenues, delegates can unlock a world of opportunities, forge meaningful partnerships, and contribute to the sustainable growth and development of Bangladesh’s economy.

    Welcoming Business Delegations to Bangladesh [P-2]
    Welcoming Business Delegations to Bangladesh [P-2]

    Business Protocols and Etiquette:

    Understanding and adhering to business protocols and etiquette is crucial for successful business interactions in Bangladesh. From negotiation tactics to communication styles and gift-giving customs, here’s a guide to navigating the nuances of conducting business in Bangladesh effectively.

     

    Business Protocols and Negotiation Tactics:

    • Respect for Hierarchy: Bangladeshi culture places a strong emphasis on hierarchy and authority. Show deference to senior figures within organizations, address them with appropriate titles, and seek consensus through consultation and respectful dialogue.

     

    • Building Relationships: Relationship-building is fundamental to business dealings in Bangladesh. Invest time in cultivating personal connections, engaging in small talk, and demonstrating genuine interest in your counterparts’ well-being before diving into business discussions.

     

    • Patience and Persistence: Negotiations in Bangladesh may proceed at a slower pace compared to Western cultures. Exercise patience, maintain a calm demeanor, and avoid pressuring your counterparts. Be prepared for multiple rounds of negotiations and follow-up discussions.

     

    Communication Styles:

    1. Indirect Communication: Bangladeshi communication tends to be indirect, with an emphasis on politeness and diplomacy. Be attentive to non-verbal cues, gestures, and nuances in tone. Avoid direct confrontation or blunt language, opting instead for subtle and tactful communication.

     

    1. Face-saving: Saving face is paramount in Bangladeshi culture. Avoid criticizing or embarrassing your counterparts publicly. Instead, provide constructive feedback privately and frame discussions in a manner that preserves dignity and harmony.

     

    Gift-Giving Customs:

    • Occasions for Gift-Giving: Gift-giving is a common practice in Bangladesh and is often exchanged on festive occasions, religious holidays, or during business meetings. Offering gifts is viewed as a gesture of goodwill and appreciation.

     

    • Appropriate Gifts: When presenting gifts, choose items that are thoughtful, of good quality, and reflect your appreciation for the recipient. Popular gift choices include sweets, chocolates, fruits, or items representing your home country.

     

    Business Card Etiquette:

    • Exchange of Business Cards: Exchange business cards at the beginning of meetings or introductions. Present your card with both hands, facing the recipient, and receive cards with a nod of acknowledgment. Take a moment to examine the card before carefully storing it.

     

    • Respect for Information: Treat business cards with respect as they represent the individual’s identity and professional status. Avoid writing on or defacing received cards, and handle them with care.

     

    Appropriate Dress Code:

    Formal Attire: Business attire in Bangladesh is typically formal and conservative. Men commonly wear suits or long-sleeved shirts with trousers, while women opt for modest and professional attire, such as suits, dresses, or sarees.

     

    Cultural Sensitivity: Respect local customs and religious sensitivities when selecting attire. Women should ensure that their clothing covers arms and legs, and both men and women should refrain from wearing clothing that is overly revealing or provocative.

     

    By adhering to these business protocols, negotiation tactics, and etiquette guidelines, you can navigate business interactions in Bangladesh with confidence, respect, and cultural sensitivity. Demonstrating an understanding of local customs and practices fosters trust, strengthens relationships, and paves the way for successful collaborations in Bangladesh’s dynamic business landscape.

    Ancient Civilization at Sonargaon, Bangladesh
    Welcoming Business Delegations to Bangladesh [P-2]

    Cultural Experiences and Sightseeing:

    Beyond its bustling business centers and dynamic economic landscape, Bangladesh offers a treasure trove of cultural experiences and sightseeing opportunities that captivate the senses and illuminate the country’s rich heritage and diversity. For business delegates visiting Bangladesh, exploring these iconic landmarks, historical sites, and cultural attractions provides invaluable insights into the nation’s past, present, and future aspirations.

     

    1. A Journey Through History:

    • Lalbagh Fort (Dhaka): Dating back to the 17th century, Lalbagh Fort is a majestic Mughal-era fortress with a rich history and architectural splendor. Explore its intricate design, lush gardens, and iconic structures, including the unfinished Lalbagh Mosque and the Tomb of Pari Bibi.

     

    • Sonargaon (Narayanganj): Delve into Bangladesh’s medieval past with a visit to Sonargaon, an ancient administrative and trading center. Explore the ruins of Panam City, admire traditional Bengali architecture, and wander through the Folk Art Museum to discover exquisite artifacts and crafts.

     

    1. Cultural Treasures and Heritage Sites:

    • Shat Gombuj Mosque (Bagerhat): Embark on a journey to Bagerhat, a UNESCO World Heritage Site, and marvel at the architectural masterpiece of Shat Gombuj Mosque. Built in the 15th century by Khan Jahan Ali, this sprawling mosque complex is adorned with sixty domes and intricate terracotta ornamentation.
    • Paharpur Buddhist Vihara (Naogaon): Discover the ancient ruins of Paharpur, one of the largest Buddhist monastic complexes in South Asia. Explore the archaeological site, admire the towering central stupa, and immerse yourself in the spiritual ambiance of this UNESCO World Heritage Site.

     

    1. Natural Wonders and Scenic Beauty:

    • Sundarbans Mangrove Forest: Embark on a river cruise through the Sundarbans, the largest mangrove forest in the world and a UNESCO World Heritage Site. Encounter elusive Bengal tigers, spot exotic bird species, and explore the labyrinthine network of waterways teeming with biodiversity.
    Sunderbans
    Welcoming Business Delegations to Bangladesh: Sunderbans
    • Cox’s Bazar Beach (Chittagong): Bask in the sun and surf at Cox’s Bazar, the longest natural sea beach in the world. Take a leisurely stroll along its pristine shores, enjoy panoramic views from the nearby hills, and savor delectable seafood delicacies at local eateries.

     

    1. Vibrant Cultural Festivals and Events:
    • Pohela Boishakh (Bengali New Year): Experience the festive spirit of Pohela Boishakh, Bangladesh’s vibrant New Year celebration. Join colorful processions, indulge in traditional Bengali cuisine, and revel in cultural performances, music, and dance.

     

    1. Urban Exploration and Modern Landmarks:

    Ahsan Manzil (Dhaka): Step back in time at Ahsan Manzil, the former residence of the Nawabs of Dhaka. Explore its opulent halls, lush gardens, and museum exhibits that offer glimpses into the aristocratic lifestyle of bygone eras.

     

    From ancient ruins to modern marvels, Bangladesh beckons with a wealth of cultural experiences and sightseeing adventures that promise to enrich the hearts and minds of business delegates. Whether exploring historic landmarks, immersing in natural wonders, or embracing cultural festivities, every moment spent in Bangladesh unveils a tapestry of heritage, diversity, and boundless discovery.

     

    Safety and Security:

    Ensuring the safety and well-being of business delegations in Bangladesh is paramount. Stay informed about local developments by regularly monitoring reputable news sources and government advisories. Prioritize accommodations in secure areas and utilize trusted transportation services. Maintain situational awareness and avoid areas with known security risks. Keep essential documents and emergency contacts readily accessible, including embassy or consulate information. Establish a communication plan within the delegation and designate meeting points in case of separation. Respect local customs and laws to minimize misunderstandings and maintain a low profile. In emergencies, contact local authorities immediately and follow their instructions. Additionally, consider enlisting the support of reputable local partners or agencies, such as Trade & Investment Bangladesh, for assistance and guidance throughout your stay. By remaining vigilant and proactive, business delegations can enjoy a safe and productive experience in Bangladesh.

     

    Conclusion:

    In closing, welcoming business delegations to Bangladesh unveils a world of opportunities and promise in one of Asia’s most dynamic economies. Throughout our exploration, we’ve highlighted the rich tapestry of culture, heritage, and business potential that awaits those venturing into this vibrant nation.

     

    From the bustling streets of Dhaka to the serene beauty of the Sundarbans, Bangladesh offers a diverse landscape ripe for exploration and investment. Its strategic location, coupled with a growing economy and favorable business climate, positions it as a compelling destination for global business ventures.

    Sixty Tomb Mosque
    Welcoming Business Delegations to Bangladesh: Sixty Tomb Mosque

    Key takeaways include the importance of cultural sensitivity and understanding, as well as the significance of building relationships and partnerships within the local business community. By embracing Bangladesh’s cultural nuances, navigating its regulatory frameworks, and leveraging its networking opportunities, business delegations can unlock the door to success and growth in this dynamic market.

     

    As we bid farewell, I encourage readers to consider Bangladesh not just as a destination for business, but as a gateway to new horizons and possibilities. Whether you’re a seasoned investor or a budding entrepreneur, Bangladesh offers a wealth of opportunities for collaboration, innovation, and mutual prosperity.

     

    So, seize the moment, embrace the journey, and embark on a transformative voyage into the heart of Bangladesh’s business landscape. Together, let’s write the next chapter in the story of Bangladesh’s economic resurgence, forging lasting partnerships and shaping a brighter future for generations to come. Welcome to Bangladesh – where opportunity knows no bounds.

     

    To read 1st part of this article, click here!

     

    Welcoming Business Delegations to Bangladesh [P-2] : Welcoming Business Delegations to Bangladesh [P-2]: Welcoming Business Delegations to Bangladesh [P-2]:
    Business Consultant in Bangladesh
    Md. Joynal Abdin, Business Consultant & Digital Marketer

    Mr. Md. Joynal Abdin is a prominent Business Consultant and Digital Marketer based in Dhaka, Bangladesh. He holds the role of Founder and CEO at Trade & Investment Bangladesh. With an extensive professional journey, he has contributed significantly, having served as Executive Secretary at Dhaka Chamber of Commerce & Industry (DCCI), Executive Director at DCCI Business Institute (DBI), Deputy Manager at SME Foundation, and Assistant Secretary at the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI).

     

    Mr. Abdin’s diverse array of services encompasses, but is not confined to, Business Mentorship, Business Research and Documentation, such as Feasibility Studies, Project Proposal Preparation, and Business Manual and Standard Operating Procedures writing. He is also adept at Export Market Selection, Product Positioning both domestically and internationally, Buyers-Sellers Matchmaking, Website Development, Search Engine Optimization (SEO), and Social Media Marketing, Email Marketing etc. among other valuable offerings.

    Welcoming Business Delegations to Bangladesh [P-2] : Welcoming Business Delegations to Bangladesh [P-2]: Welcoming Business Delegations to Bangladesh [P-2]:
  • Business Sectors & Investment Incentives in Bangladesh

    Business Sectors & Investment Incentives in Bangladesh

    Business Sectors & Investment Incentives in Bangladesh

     

    Md. Joynal Abdin*

    Business Consultant & Digital Marketer

    Co-Founder & CEO of Bangladesh Trade Center

     

    Major business sectors of Bangladesh economy could be classified into three broad heads, namely industrial (manufacturing) sectors, Service sectors, agriculture (agro-processing) sectors. Major sectors of Bangladesh economy are as follows:

     

    1. Industrial (Manufacturing) Sectors of Bangladesh:
    • Agro-based and agro-processing industry
    • Readymade Garments Industry
    • Pharmaceuticals
    • Leather and Leather products
    • Light Engineering Industry
    • Jute and Jute products
    • Plastic Industry
    • Ship Building
    • Environment friendly ship breaking
    • Frozen Fish Industry
    • Home Textiles
    • Renewable Energy (Solar Power, Windmill)
    • Active Pharmaceuticals Ingredient Industry and Radio Pharmaceuticals Industry
    • Herbal Medicinal Plant
    • Basic chemicals/dye and chemicals
    • Radio-active (diffusion) Application Industry (e.g. developing quality of decaying polymer/preservation of food/ disinfecting medicinal equipment)
    • Development of Polymer Industry
    • Automobile Industry
    • Handicrafts
    • Energy Efficient Appliances/Manufacturing of Electronic goods/Development of Electronic materials
    • Tea Industry
    • Ceramics
    • Tissue Grafting and Biotechnology
    • Jewelry
    • Toy
    • Cosmetics and toiletries
    • Agar –Ator Industry
    • Furniture
    • Cement Industry
    Business Sectors & Investment Incentives in Bangladesh
    Md. Joynal Abdin, Business Consultant, Digital Marketer & Author
    1. Major Service Sectors:
    • IT-based activities (system analysis, design, developing system solutions, information service, call centre service, offshore development Centre, business process outsourcing etc.)
    • Agro-based activities such as fishing, fish preservation and marketing
    • Construction industry and housing
    • Overseas Employment
    • Entertainment
    • Ginning and baling
    • Hospitals and clinics
    • Nuclear and Analytical Service (e.g. nuclear treatment etc.)
    • Horticulture, flower cultivation and flower marketing
    • Human Resource Development, Knowledge society with high quality merit and efficiency
    • Tourism
    • Testing Laboratory
    • Photography
    • Telecommunication
    • Transport and communication
    • Warehouse and container service
    • Engineering Consultancy
    • Filling Stations (Petrol pump, CNG conversion centre etc.)
    • Private Inland Container Depot and Container Freight Station
    • Tank Terminal
    • Chain Super Market/Shopping Mall
    • Aviation Service
    • Inspection and testing service
    • Regional Feeder vessel and coastal ship service.
    • Dry socking and ship servicing
    • Modernised Cleaning Service for High-rise Apartments, Commercial Building
    • Auto mobile service
    • Technical Vocational Institute
    • Production and Marketing of poultry and dairy products
    • Advertising Industry and modelling e.g. print modelling, TV commercials, ramp modelling, catwalk, fashion
    • Production, supply and distribution of power in the private sector
    • Outsourcing and Security Service (Private Security forces/manpower supply)
    • Sea-ship movement trade

     

     

    1. Agriculture (agro-processing) Sectors:
    • Processed fruit products (jam, jelly, juice, pickles, asrbat, syrup, sauce etc.)
    • Fruits processing (tomato, guava, sugarcane, jackfruit, lichie, pineapple, coconut etc.) vegetables and lentil
    • Processing of bread and biscuits, vermicelli, laccha, chanachur, noodles etc.
    • Manufacturing of flour, sujee
    • Processing of mushroom and spirulina
    • starch, glucose and other dextrose product
    • Milk Processing (pasteurization, milk powder, ice-cream, condensed milk, sweet, cheese, butter, ghee, chocolate, curd etc.)
    • Processing of Potato products (chips, potato, flex, starch etc.)
    • processing of powder spice
    • Refining and hydrogenation of edible oil
    • Salt processing
    • Processing of prawn and other fishes and freezing
    • Manufacturing of herbal cosmetics
    • Manufacturing of Unani and ayurvedic medicines
    • Fish feed and fish meal processing for poultry and livestock
    • Seed processing and preservation
    • Manufacturing of jute products (rope, thread, twain, canvass, bag, carpet, sandals etc.)
    • Production of silk textile
    • Manufacturing of agro-equipment’s
    • Manufacturing of rice, puffed rice, chirra etc.
    • Production of flavored rice
    • Tea processing
    • Production of coconut oil
    • Processing of rubber tape, shellac
    • Cold storage (processing and preservation of edible potato and seed potato, fruits, vegetables etc.)
    • Production of wood, bamboo and cane furniture (exclusive of cottage industry)
    • Flower preservation and export
    • Meat processing
    • Production of Bio slurry, mixed manure and urea
    • Production of bio-pesticides, neem pesticides etc.
    • apiculture
    • Particle board
    • Sweetening products
    • Soya food production & processing
    • Mustard oil producing industry (if local variety is used)
    • Rubber goods making project.
    • Rice bran oil.
    • Seed industry
    • Milk and poultry production and supply.
    • Horticulture, floriculture, flower cultivation, flower and vegetable marketing (lemon, mushroom, battle leaf and honey is included in this industry).

     

    Business Sectors & Investment Incentives in Bangladesh, this is the summary of two chapters from the book “Most Prospective Sectors to Invest in Bangladesh” of the Author. To purchase the book click here.

    Business Sectors & Investment Incentives in Bangladesh
    Most Prospective Sectors to Invest in Bangladesh

    Business Sectors & Investment Incentives in Bangladesh, this is the summary of two chapters from the book “Most Prospective Sectors to Invest in Bangladesh” of the Author. To purchase the book click here.

    Investment incentives offered by Bangladesh:

    Bangladesh achieved independence from Pakistan through a bloody liberation war for 9 months at a cost of 3 million lives. After liberation war major investment was in reconstruction of the bridges, railway lines, water ways, ports and a large number of developing houses destroyed or burnt during the war. The first five years plan was prepared in a spirit to achieve socialism in the country. There was thus emphasis on investment in public sector. In the early 1980s the trend reversed and started a new trend of privatizing state-owned enterprises (SOE). Many SOEs were sold out to private owners, at the same time new enterprises started to be developed in private sector.

     

    The government has designed and implemented different policy reforms for creating more open and competitive environment for local and foreign investment. Considerable reforms and policy changes have been brought in recent years to promote the congenial atmosphere for foreign direct investment in Bangladesh. Private investment from foreign sources is welcome in all areas except four strategic industries reserved for public sector only namely Arms and ammunitions and other defense equipment and machinery; Production of nuclear energy; Forest plantation and machinated extraction within the bounds of reserve forest; and Security printing currency notes and minting. The foreign private investment (promotion and protection) Act, 1980 has been passed that ensures legal protection to foreign investment against nationalization and expropriation. It also guarantees repatriation of capital and dividend; and equitable treatment with local investors with regard to indemnification, compensation, restitution, or other entitlement as is accorded to investment. The government has made bilateral agreements for avoidance of double taxation with 26 countries and negotiations are going on with 23 countries.

     

    Investment treaty for promotion and protection of investment between Bangladesh and twenty countries have been concluded and negotiations are going on with 9 other countries. Besides these, Bangladesh is a signatory to MIGA (Multilateral Investment Guarantee Agency), OPIC (Overseas Private Investment Corporation) of USA, ICSID (International Centre for Settlement of Investment Disputes) and a number of WIPOs (World Intellectual Property Organization) a Permanent committee on development and cooperation related to industrial prosperity. Adequate provision is also made available for intellectual property rights, such as patents, design and trademarks and copy right.

     

    The government has already enacted bankruptcy law. A law commission has been constituted with a view to identify the anomalies and weaknesses in the existing laws and legal system. One of the main tasks of this commission is updating the existing laws in relation to industries, trade and business.

     

    All these are expected to improve general business environment along with the environment of FDI. Efforts are being made to reform the bureaucratic administration in order to make it efficient and supportive of better services for inflow of FDI and economic development oriented activities. Substantial modifications have been made to up-date the laws dealing with financial sector. The Companies act 1994 and labor Act 2006 have been enacted for facilitating inflow of FDIs in Bangladesh.

     

    In order to improve the environment of private foreign investment and FDI, several EPZs have been established in Chittagong, Dhaka, Khulna under the Bangladesh Export Processing Zones Authority (BEPZA) in 1980. The private Export Processing Zones (PEPZs) Act has also been enacted to encourage the establishment of “Private Export Processing Zones” by the local and foreign investors. These EPZs are well enriched with the necessary infrastructural facilities and are completely protected from any law and order problems or union activities.

     

    The BEPZA approves all projects to be located in the EPZS and offers “One window same day service” to the investors in the EPZs. The government has also approved the private power generation policy of 1996 and tax exemption on income of the company for 15 years from the date of commercial production is allowed.

     

    The Government has undertaken several steps to make import liberalization and industrial deregulations more effective including announcing its strategy of reducing effective protection over the medium term, continuing its efforts to lower and simplify tariffs, publishing a clear tariff schedule, developing an action plan for legal reforms and a blue pint for deregulation, and putting an action plan for implementing its exports development strategy. These efforts have improved the investment environment in Bangladesh.

     

    Bangladesh is one of the promising economies with a large domestic market, availability of labor with competitive price, low utility charges, two Seaports and a potential Deep Seaport facility, long-term tax holiday, 100% repatriation facility, and easy access to largest regional market like India and China.

     

    Facilities and Incentives for a foreign investor:

    • Tax exemption on  royalties,  technical  knowhow  and  technical  assistance  fees  and  facilities  for  their repatriation
    • Tax exemption on interests on foreign loans
    • Tax exemptions on capital gains from transfer of shares by the investing company
    • Remittances of  up  to  50%  of  salaries  of  the  foreigners  employed  in  Bangladesh  and  facilities  for repatriation of their savings and retirement benefits at the time of their return
    • No restrictions on issuance of work permits to project related foreign nationals and employees
    • Facilities for repatriation of invested capital, profits and dividends
    • Provision of transfer of shares held by foreign shareholders to local investors
    • Reinvestment of remittable dividends would be treated as new investment
    • Level playing field: foreign owned companies duly registered in Bangladesh will be on the same footing as locally owned ones
    Bangladesh Trade Center
    Invest in Bangladesh

    Fiscal incentives:

    • Corporate tax holiday of 5 to 7 years for selected sectors
    • Reduced tariff on import of raw materials capital machinery
    • Bonded warehousing
    • Accelerated depreciation on cost of machinery is admissible for new industrial undertaking (50% in the first year of commercial production, 30% in the second year, and 20% in the third year)
    • Tax exemption on capital gains from the transfer of shares of public limited companies listed with a stock exchange
    • Reduced Corporate Tax for 5 to 7 years in lieu of tax holding and agricultural deprecation.

     

    Financial incentives for export oriented industries:

    • Cash incentives and export subsidies ranging from 5% to 20% granted on the FOB value of the selected products
    • 90% loans against letters of credit (by banks)
    • Permission for  domestic  market  sales  of  up  to  20%  of  export-oriented  companies  outside  EPZ  (relevant duties apply)

     

    Additional Facilities / Incentives:

    • 100% foreign equity allowed
    • Unrestricted exit policy
    • Remittance of royalty, technical know-how and technical assistance fees
    • Full repatriation facilities of dividends and capital at exit
    • Citizenship by investing a minimum of US$ 5,00,000
    • Permanent resident permits on investing US$ 75,000
    • An investor  can  wind  up  investment  either  through  a  decision  of  the AGM  or    He  or  she  can repatriate the sales proceeds after securing proper authorization from the Central Bank

     

    Other factors of Investment Environment:

    Bangladesh offers investment friendly environment compared to the other South Asian Countries. Salient features are enumerated below:

    • Largely a homogenous society with no major internal or external tension Bangladesh has a population with great resilience in the face of adversity.
    • The people of Bangladesh, a liberal democratic country irrespective of race and religion are living in harmony for years.
    • Bangladesh enjoys broad non-partisan political support for market-oriented reforms and offers the most investor-friendly regulatory regime in South Asia.
    • This country has a large trainable, enthusiastic, and hardworking low-cost labor force suitable for any labor-intensive industry.
    • A bridge between ASEAN and SAARC nations, the Geographical location of Bangladesh is ideal for global trades with very convenient access to international sea and air routes.
    • Bangladesh is endowed with abundant supply of natural gas, coal, water and very fertile soil.
    • Although Bangla is the official language. English is widely spoken as second language.
    • Increasing trend of per capita forecasting its purchasing power is increasing in the local market.
    • All Bangladesh products other than armaments enjoy complete duty and quota free access to EU, Japan, Canada, Australia, Norway and most of the developed countries. However, for apparel export to USA, Bangladesh has a quota regime which ended on 1st January 2005.
    • Export earning is continuously increasing.
    • Increasing trend of remittance.

     

    Business Sectors & Investment Incentives in Bangladesh, This is the summary of two chapters from the book “Most Prospective Sectors to Invest in Bangladesh” of the Author. To purchase the book click here.

     

    *Author’s Short Profile:

    business consultant
    Md. Joynal Abdin

    Mr. Md. Joynal Abdin is a Business Consultant & Digital Marketer based in Dhaka, Bangladesh. He is also Co-Founder & CEO of Bangladesh Trade Center. Previously he served at Dhaka Chamber of Commerce & Industry (DCCI) as Executive Secretary; DCCI Business Institute (DBI) as Executive Director; SME Foundation as Deputy Manager; and the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) as Assistant Secretary.

     

    The list of services Mr. Abdin is offering includes but not limited to Business Research and Documentations like Feasibility Study, Project Proposal Preparation, Writing Business Manual, Standard Operating Procedures etc.; Export Market Selection and Product Positioning at Home and Abroad; Buyers-Sellers Matchmaking; Website Development; Search Engine Optimization (SEO); and Social Media Marketing etc.

     

    Business Sectors & Investment Incentives in Bangladesh, This is the summary of two chapters from the book “Most Prospective Sectors to Invest in Bangladesh” of the Author. To purchase the book click here.

     

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