Production at Bangladesh's Araihazar Economic Zone to start in 2023

07 Feb '22

1 min read

Pic: Shutterstock

Factories in Bangladesh’s Araihazar Economic zone, dedicated to Japanese entrepreneurs, will start production in 2023, Japanese ambassador to the country Ito Naoki told Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Mohammad Jashim Uddin in Dhaka recently. Bangladesh would be a major destination for Japanese entrepreneurs, he said.

Restriction on overseas remittance from branches, limitation in loans for working capital, restriction on royalty remittance, overdue payment, delay in issuing letters of credit, collection of additional income taxes and value-added-tax, renewal of bond licenses and the wage gap between inside and outside of the economic zone are creating barriers to investment, he emphasised.

Jasim Uddin assured him that FBCCI would work with the government to solve these issues.

Naoki called for making the investment more environment-friendly, according to Bangla media reports.

ALCHEMPro News Desk (DS)

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