Foreign investors to get wider benefits in new industrial policy
A new refreshed Industrial Policy for 2016 is set to contain specific incentives for foreign investors to re-think Bangladesh as a lucrative and investor friendly business oriented economy. One-stop-service, country-specific economic zones, industrial parks, green business incentives will all be made available for foreign investors in a bid to revive the economy to international players.
Comparative FDI in Bangladesh was significantly low, never breaking the 1% mark for some time, whilst Vietnam, China and India added significantly to their respective GDPs. To shake up the culture, Bangladesh government is extending tax holidays, citizenships above a certain investment threshold, a 100 economic zones are being formulated as policy for 2016.
Other than this, some high priority industries have been identified, which will create large-scale employment through quick expansion and add considerable export revenue. Another sector has been identified as a value addition sector, which are the creative industries; these create aesthetic environment and produce creative products through innovation and modern technology. Only at the identification stage, the government is planning to formally support these industries under the new policy regime.
A new refreshed Industrial Policy for 2016 is set to contain specific incentives for foreign investors to re-think Bangladesh as a lucrative and investor friendly business oriented economy. One-stop-service, country-specific economic zones, industrial parks, green business incentives will all be made available for foreign investors in a bid to revive the economy to international players.
Comparative FDI in Bangladesh was significantly low, never breaking the 1% mark for some time, whilst Vietnam, China and India added significantly to their respective GDPs. To shake up the culture, Bangladesh government is extending tax holidays, citizenships above a certain investment threshold, a 100 economic zones are being formulated as policy for 2016.
Other than this, some high priority industries have been identified, which will create large-scale employment through quick expansion and add considerable export revenue. Another sector has been identified as a value addition sector, which are the creative industries; these create aesthetic environment and produce creative products through innovation and modern technology. Only at the identification stage, the government is planning to formally support these industries under the new policy regime.
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