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Profile Index: o At a Glance o History o Physical features o Climate o Time o Office and banking hours o People o Religion o Language o Education
o Capital Important Cities & places of tourist attractions
o Chittagong o Cox’s Bazar o Rangamati o Khulna o Shundarban o Rajshahi o Bogra o Sylhet o Mainamati
o Kuakata Important information
o Air Transport o Railway o Road Transport o Industry o Agriculture o Service o Investment o Balance of Payment o Export o Import o Wage Earners’ Remittances o Foreign Exchange Reserve o Regional Trade Agreements (RTA) o Natural Resources
o Exchange Control & Banking
At a glance
Official Name The People's Republic of Bangladesh
Government Parliamentary form of government, headed by the Prime Minister
Location & Borders South Asia bordered by India on the east,west & north and by Bay of Bengal on the south and small border strip with Myanmar on the
southeast.
Area/Land 147,570 square km-mostly alluvial fertile plain. Territorial Waters 22.22 km. Economic Zone up to 370.40 km. in the high seas, measured from the base lin
Climate/SeasonsAverage winter temp (Max 29 deg. C and Min 11 deg. C) . Average Summer temp ( Max 40 deg. C and Min 21 deg C) . Seasons: Summer, Monsoon, Autumn, Late Autumn, Winter & Spring .
Annual rainfall Varies from 160 cm to 400 cm at different areas.
Humidity Highest 99 % during peak summer in July, Lowest 36% during winter in Dec-Jan
Standard Time GMT+6 hours
Population/Literacy 140.6 million /68.5%
Official Language Bangla, English is generally understood and widely spoken.
Capital Dhaka, Area 1416 sq. km.
Administrative Units Division:6; Zila:64; Thana:507; Union:4484; Village:87319
Major cities Dhaka, Chittagong, Sylhet, Khulna, Rajshahi, Barisal, Mymensing & Comilla
Airports Dhaka, Chittagong, Sylhet, Jessore, Rajshahi, Iswardi, Cox's Bazar, Syedpur and Barisal.
International Airport Dhaka, Sylhet and Chittagong
Sea Port Chittagong and Mongla
Places of tourist interest
Colorful tribal life of Hill Tracts, World's largest and longest sea beach at Cox's Bazar, Kuakata and Parky sea beach, Foy's Lake , Dulahajra safari park, Sitakund echo park at Chittagong, century old historical sites at Dhaka, Pharpur, Moinamati, Mohastangar, Sundarban the home of Royal Bengal Tiger and world's largest mangrove ferest, lash green tea gargens of Sylhet, riverine life etc.
Tourist season October to March
Banking hour Sunday- Thursday (9:00 am-3:00 pm)
Exchange rate Taka (T.) / Floating exchange rate hovers round US$ 1.00= Tk. 68.51, Euro 1.00=Tk 90.84
Religion 4 Major religions: Islam, Hinduism, Buddhism and Christianity
Sectoral share of GDP 21.77% agriculture, 29.01% industry, 49.22% service (2005-06).
GDP/rate of growth US$ 68.14 billion /6.71% (2006-07)
Per Capita GDP/GNI US$554 / US$482 (2005-06)
Annual Export/Import US$ 14,110.80 billion (2007-08) / US$ 15.51 billion (2006-2007)
Major exports Readymade garments, frozen foods (shrimps), leather, leather products, jute, jute products, tea, ceramic, textile fabrics, home textile, chemical product, light engineering products including bi-cycle.
Major imports Oil, edible oil, petroleum product, wheat, seeds, fertilizer, yarn, capital goods, machinery, power generating machinery, scientific & medical equipment, iron & steel, motor vehicles, raw cotton, chemicals.
Major trading partners USA, EU countries, China, India, Pakistan, Japan, South Korea, Canada, Australia, Malaysia, Hong Kong, Taiwan, Thailand, Indonesia, Saudi Arabia and UAE
Top HISTORY
Bangladesh emerged as an independent country in 1971 through the nine month long liberation war against the occupation forces of Pakistan. The history of the country is as old as it is eventful. In the ancient age, an Austro-Asian race first inhabited in this part of the world. Then came the Dravidians from Western India and later on the Aryans from Central Asia to establish their small settlements. This followed the influx of the Mongolians, Persians, Turks and Afghans. According to Greek sources of the 4th century B.C., the people of this deltaic-region made extensive military preparations to halt the advance of Alexander, the Great who had chosen to continue his eastward march. Later records, inscriptions, coins and ornaments testify the traditional civilization and glorious past of East Bengal, now Bangladesh. Muslims, who came to this region at the beginning of the 13th century, continued their rule till the advent of the British in the 18th century. The British domination over the subcontinent was for about 200 years, and while leaving in 1947 they partitioned it into two sovereign states, India and Pakistan. Bangladesh came into being on March 26, 1971.
Top PHYSICAL FEATURES
Bangladesh is a deltaic region of 147,570 sq. kilo meter. It lies between 20 degree 34' and 26 degree 38' North Latitude and 88 degree 01' and 92 degree 42' East Longitude. It has its boundary with India on three sides- east, north and west and with Myanmar on the southeast. To the south lies the Bay of Bengal.
Over 85 percent of the area of the country is flat, alluvial and plain and is crisscrossed by the mighty rivers like Padma, Meghna, Jamuna and their innumerable tributaries and distributaries. The hill tracts along the eastern border is under forest. The better-known swampy, tropical mangrove forest the Sundarbans lies along the southwestern coast of the Bay of Bengal. Low hills and hillocks border the plains in Sylhet in the northeast. An extensive hill area covers the district of Chittagong Hill Tracts in the southeast. The hills run north and south with an average elevation of about 2,000 feet.
Top CLIMATE
The temperature is equable and moderate. The minimum temperature varies between 9 degree centigrade to 29 degree centigrade in winter. The maximum temperature ranges from 21 degree centigrade to 40 degree centigrade in summer. The annual rainfall varies from 160 cm to 400 cm. There are six seasons in Bangladesh. These are: summer, monsoon, autumn, late autumn, winter, and spring. Rain in Bangladesh is associated with occasional tropical storms and cyclones, which originate in The Himalayas in summer and in the Bay of Bengal in autumn. There is a short pre-monsoon rainy season from April to May due to occasional nor-westers (cyclone) accompanied by thunderstorms.
Although Summer and Winter are the two main seasons distinctly prominent, the monotony is broken with the change of seasons in every two months recorded as per Bangla Calendar. These changes are, however, in degrees and one mixes with the approaching next like that of a rainbow of seven colours. This inter-woven changing pattern gives a pleasant touch to the people offering a distinct colour, smell and sound to the landscape for every short season. The summer is broken by a
welcome monsoon rain, making the land suitable for cultivation. This is again changed to happy Autumn, pleasant Winter and colourful Spring.
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TIME
Standard time of Bangladesh is 6 hours ahead of GMT. Top
OFFICE AND BANKING HOURS
Friday and Saturday are the weekly official holiday and the Govt. office hours are from 9.00 a.m. to 5 p.m. on weekdays. Banks run from 9.00 a.m. to 3.00 p.m. from Sunday to Thursday. Private office timing ranges from 9.00 a.m. to 5.00 p.m. on all working weekdays.
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PEOPLE
Bangladesh is one of the world's most densely populated countries with about 140.00 million people. They descended from several racial and sub-racial groups entering South Asia over the past 5000 years.
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RELIGION
There are four major religions in Bangladesh : Islam, Hinduism, Christianity and Buddhism. Muslims represent about 85% of the total population. They live in perfect peace and harmony with fellow minority brethen who are well represented in all walks of life.
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LANGUAGE
Bangla is the official language of the country. English is the second language and widely used in education, business and commerce. Arabic is also read and learned by the Muslim community as the religious language.
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EDUCATION
Although the literacy rate is still around 68.5% , the trend towards higher education in the urban society is noticeable. There are 53 general universities in the public and private sectors, five engineering universities, one medical university and two agricultural universities in the country. Besides, 18 medical colleges and a large number of vocational and technical institutions with a wide variety of specializations are also in existence in the country. One International Institute on Engineering and Technology funded by the Organization of Islamic Conference (OIC) is operating in Bangladesh with expatriate teachers and students from the OIC member-nations. Besides, hundreds and thousands of general colleges, high schools, junior high schools and primary/kindergarten schools are in operation.
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CAPITAL
Dhaka, the capital of Bangladesh is situated almost in the middle of the country on the bank of the river Buriganga. This historic city was founded in 1608 A.D. by the Mughal Emperors and has a rich history of more than 2000 years. The city has all modern facilities with international hotels equipped with all modern communication systems. The places of historical interest in the city are : National Museum, Lalbagh Fort, Baldha Garden, Ahsan Manzil (Palace), Bukland Embankment, Bara Katra, Chhoto Katra etc. Besides, the National Mausoleum at Savar and the Folk Museum at Sonargaon are two attractive places within reasonable distance. Dhaka is also characterized by thousands of ancient
and modern mosques, for which it is known as the city of mosques.
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Important Cities & places of tourist attractions
CHITTAGONG
The second largest city Chittagong was termed as " a sleeping beauty emerging from the mist and water" in the 7th century and "Ports Grande" in the 16th century. This large and thriving port city has developed amidst lively and lovely natural surroundings studded with green-clad, coconut palms, mosques, minarets and shrines of Muslim saints as well as Buddhist and Hindu temples against the background of the silver blue waters of the Bay of Bengal. Chittagong is connected with Dhaka by rail, road and air and with India, Thailand and middle east countries by air. Good accommodation is available in hotels and motels.
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COX's BAZAR
A small town founded in 1798 A.D. by Captain Cox of East India Company. Cox's Bazar has one of the longest sea beaches in the world. Well protected by greenclad jungle slopes on one side and the sea shore on the other, it is a small exquisite town with a mixed population speaking Bangla and some Burmese. Good accommodation and eating facilities are available at the tourist motels, cottages and hotels. Cox's Bazar is connected with Chittagong and Dhaka by road and air.
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RANGAMATI
Rangamati, the headquarters of Chittagong Hill Tracts region, is on the eastern bank of the famous Kaptai lake. It is inhabited by colourful and hospitable tribal folks. Rangamati is connected with Chittagong by road and with Kaptai by water ways. Accommodation is available at a reasonable cost with the tourist motels and cottages situated at scenic spots on the bank of the lake. Mechanised and country boats are available for cruise in the lake.
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KHULNA
Gateway to the Sundarbans, the home of the Royal Bengal Tigers, Khulna is an industrial and commercial city and the Divisional Headquarters. The Mongla Sea Port is located nearby. Some of the biggest jute mills in the country are located here. Khulna is connected with Dhaka by rail, road, river and air.
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SHUNDARBAN
Fascinating tropical forest covering 2,316 square miles of deltaic swamp alongwith the coastal fringe of the southern most part of Bangladesh. The Sundarbans is the natural habitat of many of the wild life like crocodile, dotted deer , python, wild bear, monkey and the famous Royal Bengal Tiger.
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RAJSHAHI
The royal seat of the Pala kings of ancient Bengal, Rajshahi is the main centre of sericulture, mangoes, lichis and spices. A centre of education and culture, Rajshahi has a rich museum with research facility for study of ancient history and culture. It is connected with Dhaka by air, road and rail.
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BOGRA
This district town serves as the nerve centre of northern Bangladesh and the entrance to the oldest archaeological site of the 3rd century B.C. It is connected with Dhaka by rail and road.
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SYLHET
The land of tea gardens. Sylhet is famous for its Manipuri tribe and their dances. Its cane and cane products are equally fascinating. The hills in the north add to its natural beauty. It is connected with Dhaka by rail, road and air.
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MAINAMATI
Five miles to the west of Comilla town, lies a range of low hills known as the Mainamoti-Lalmai range. It was an important seat of Buddhist culture. Large scale excavations have revealed valuable facts about Buddhist rulers who flourished here as independent kings during the 7th and 8th centuries. The whole range of hillocks, about 11 miles long, is believed to be studded with more than 50 Buddhist archaeological sites.
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KUAKATA
Kuakata, the 25 KM long sea beach situated at the periphery of the southern part of Patuakhali is a potential tourist resort. It provides a unique opportunity to witness both sun rise and sun set. The local Rakhain population have rich cultural tradition and their hospitality is well known. The 200 acres dense forest gives the beach a pleasant look and it serves as a wall against tidal bore. A Buddhist pagoda is located at the sea-shore and a statue of Buddha weighing over 1.5 metric tons is preserved inside the Pagoda.
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Important Information
AIR TRANSPORT
Biman, the National Airlines of Bangladesh, is now serving twenty-six cities of the world across three continents. Most of Biman's destinations are served with either non-stop or one stop service. Convenient transfer connections from Dhaka to the regional destinations like Kolkata, Kathmandu and Yangoon are easily available. Besides, the principal international air port, Zia international air port in Dhaka is well connected with all international cities through regular flights of Air India, Aeroflot, British Airways, Emirates, Gulf Air, Iraq Airways, KLM, Dragon Air, Myanmar Airways, Kuwait Airways, PIA, Royal Nepal Air Lines, Saudia, Singapore Air Lines and Thai International. Biman is reputed for its well-trained and dedicated cabin crew with appreciable safety record.
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RAILWAY
Importance of Bangladesh railway in our economic development is great. Bangladesh railway has 2880 Km networking throughout the country. It has adequate capacity of carrying passengers and cargo from and to the important cities of the country.
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ROAD TRANSPORT
Bangladesh has about 8555Km of national and regional highways (National 3723 Km and regional, 4832 Km in 2003). The road transport is predominantly in the private sector. However, state owned Bangladesh Road transport Corporation has a big fleet of buses and lorries to connect the capital with almost all parts of the country. The important business centres are well connected by roads and highways. The Thana headquarters, the basic administrative units of the country, have been planned
to be brought under direct road connection with Dhaka in phases. Top
INDUSTRY
GDP growth of broad Industry sector was 9.56% in FY 2005-06 compared to 8.28% in FY 2004-05. The performance of the industrial sector was mainly based on the growth in textile and wearing apparel, drugs and pharmaceuticals, fertilizer, petroleum products, glass products, cement, electronics, footwear and food & beverage industries.
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AGRICULTURE
Agriculture still holds an important position in our national economy in creating employment and increasing national income. In FY 2005-06, the contribution of this sector in national income is about 21.77%. Growth in agriculture has increased to 4.67%. Growth during the year 2004-2005 was 1.80%. Fish production in FY 2005-06 has increased by 3.89%. Growth in the sector during the preceding year was 3.65%. Food production during the FY 2004-2005 was 26.13 million tons. Target for FY 2005-06 has been set to 3.14 million tons.
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SERVICES
The service sector continued to be the largest contributor to the country's real GDP growth in 2005-2006. The sector grew by 6.47% during the year, compared to 6.36% in 2004-2005 and contributed 49.22% to GDP growth. All sub-sectors shared in the overall growth of the services sector activities, but relatively higher growth rates were registered by education (7.98%), transport, storage and communication (8.25%), hotels and restaurant (7.45%), financial services (7.12%), public administration and defence (8.21%), wholesale and retail trade (7.26%) and health and social work (7.17%).
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INVESTMENT AND SAVING
Gross national savings during the year 2005-06 was 26.61% of GDP compared to 25.84% during the previous year. In FY 2005-06, the rate of total investment was 24.97% of GDP in which the shares of public and private sector were 6.30% and 18.67% respectively. Total foreign direct investment registered by BoI during the calendar year 2005 was US$ 800 million which was 22.61% more than the previous year.
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BALANCE OF PAYMENT
Trade deficit stood at US$ 2129 million in the FY 2005-06. The deficit was US$ 2491million in the previous FY 2004-05. The current account registered a surplus balance of US$ 231 million in FY 2005-06 whereas it was a deficit of US$ 612 million during the corresponding period of FY 2004-05.
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EXPORT
Total export earnings registered a 21.63% increase during 2005-2006 and rose to US$ 10156 million (16.03% of GDP) from US$ 8655 million (14.18 of GDP) in 2004-2005. Exports increased chiefly due to higher demand in both developed and developing countries. Garments had the major share (38.86%), followed by knitwear and hosiery (35.43%), frozen foods (4.43%), jute goods (3.94%) leather (2.31%), chemical products (2.52%) and raw jute (1.03%).
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IMPORT
Import payment during the first 9 months of FY 2005-2006 was US$ 10612 million compared to US$ 13147 million during the whole FY 2004-2005. Import expenditure increased by 9.5% compared to the first 9 corresponding months of the previous FY 2004-05. In total import, the contribution of capital goods was US$ 1019 million, principal industrial goods US$ 2199 million, principal primary commodities US$ 1270 million, others US$ 6124 million.
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WAGE EARNERS' REMITTANCES
Remittances of Bangladesh expatriates amounted to US$ 3475 million during the first 9 months of FY 2005-06 as against US$ 3848 million in the preceding whole FY 2004-05.
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FOREIGN EXCHANGE RESERVE
During 2005-2006, the country's foreign exchange reserve reached at US$ 3040 million on 28.05.2006 from US$ 2930 million at the end of June 2005.
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REGIONAL TRADE AGREEMENTS (RTA)
Regional Trade Agreements/formation of Free Trade Areas (FTA) among countries in a region help in expansion of Intra-regional Trade. Investment and other forms of economic co-operation will accelerate the development of national economy of the member countries. Bangladesh is a member of a number of regional bodies like SAARC, BIMST-EC, Bangkok Agreement and Developing-8. Recently Bangladesh started negotiation bi laterally to form FTA with India, Pakistan and Sri-Lanka and very recently Trade and Investment framework agreement (TIFA) with the United States is also under active consideration of the Government. Bangladesh is also negotiating with the SAARC member countries to form FTA and a move has been initiated to form FTA among BIMST-EC member countries. Co-operation at sub-regional level involving Bangladesh, Nepal, Bhutan and seven north eastern states of India has also been mooted (the growth quadrangle) and KUNMING initiative has been undertaken to form a regional co-operation also.
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NATURAL RESOURCES
Bangladesh is endowed with rich natural resources. Surveys reveal the existence of vast natural gas reserve. The present Govt. signed several productions sharing agreement with the foreign companies to explore natural gas. Extracted natural gas is being distributed to all industrial zones including fertilizer and petro-chemical plants, and other mineral deposits are also being extracted for the country's social and economic development.
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EXCHANGE CONTROL & BANKING
Bangladesh Bank, the central bank of the country, is the legal authority for exchange control system. Commercial banks deal in foreign exchange as per guidelines given by the central bank from time to time. A good number of commercial banks, both in public and in private sectors, are operating in Bangladesh. Besides, a few foreign banks, namely Hongkong and Shanghai Banking Corporation (HSBC), American Express Bank, State Bank of India, Habib Bank Ltd, Standard Chartered Bank, and Citibank N.A are also operating.
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EXPORTABLE PRODUCTS
Woven Garments Knitwear Frozen Fish
Leather and Leather products Jute Products Food Products
Agricultural Products Handicrafts Bicycle
Tea Ceramics Products ICT Products
Toiletries Potteries Home Textiles
Cards and calendars
EXPORT TREND
Trend Index
» Trend in Export Trade» Export from Bangladesh 1972-73 to 2006-2007» Product-Wise Structural Change over 4 Decades
1972-73 1982-83 1992-93 2002-03 2006-07
» Product and Region wise» Market share of major export products (2006-2007) » Regional Market Share (2006-2007)
Trend in Export Trade(In product & market) 1972-73 2006-2007 Growth
No. of Product 25 154 516%
No. of Market 68 184 171%
Total Export 348 12178 3399%
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Export from Bangladesh 1972-73 to 2006-2007
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Product-Wise Structural Change over 4 Decades
1972-73
1982-83
1992-93
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2002-03
2006-07
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% Share of Major Importing Countries of Bangladesh Exportables
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Arket share of major export products (2006-2007)
01. Woven Garments 38.25%02. Knitwear 37.39%03. Frozen Food 4.23%04. Jute Goods 2.63%05. Leather 2.18%06. Raw Jute 1.21%07. Chamical Products 1.77%08. Tea 0.06%09. Other 12.28%
Regional Market Share (2006-2007)
01. European Union (E-U) 52.26%02. American Region 32.74%03. Asian Region 8.52%04. Middle East Region 2.75%05. African Region 0.64%06. Ocenia Region 0.25%07. East European Region 0.35%08. Other 2.19%
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Shifting of Markets from Asia/Africa to America & EU Markets; and Non-tariff barriers and Stringent rules of origin are hindering our export
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EXPORT RELATED ORGANIZATIONS
Important Telephone Numbers Bangladesh Association of Software and Information Services (BASIS) Bangladesh Aushad Shilpa Samity Bangladesh Bank Bangladesh Export Processing Zones Authority (BEPZA) Bangladesh Finished Leather and Leather Goods and Footware
Exporters Association Bangladesh Foreign Trade Institute Bangladesh Frozen Food Exporters Association Bangladesh Garment Manufacturers & Exporters’ Association (BGMEA) Bangladesh Knitwear Manufacturers & Exporters’ Association
(BKMEA) Bangladesh Tariff Commission Bangladesh Textile Mills Owners' Association Barishal Chamber of Commerce and Industry (BCCI) Biman Bangladesh Airlines Chittagong Chamber of Commerce and Industry (CCCI) Chittagong Port Authority Export Promotion Bureau (EPB) ICT Business Promotion Council Jiban Bima Corporation Khulna Chamber of Commerce and Industry (KCCI) Leather Goods and Footware Manufacturers and Exporters Association
of Bangladesh Leather Sector Business Promotion Council Light Engineering Product Business Promotion Council Metropolitan Chamber of Commerce & Industry (MCCI) Ministry of Commerce Mongla Port Authority National Board of Revenue Office of the Chief Controller of Imports & Exports Rajshahi Chamber of Commerce and Industry (RCCI) Sadharan Bima Corporation Sylhet Chamber of Commerce and Industry (SCCI) The Dhaka Chambers of Commerce & Industry (DCCI) The Federation of Bangladesh Chambers of Commerce and Industry
(FBCCI) Trading Corporation of Bangladesh
Zia International Airport
Ministry of Commerce Export Promotion Bureau (EPB)
Bangladesh Secretariat Dhaka, Bangladesh Fax: 88-02-7167999 E-mail: [email protected]: www.mincom.gov.bd
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TCB Bhaban (Ist Floor), 1 Kawran Bazar Dhaka-1215, Bangladesh Phone: 88-02-9144821-24 Fax: 88-02-9119531 E-mail: [email protected] Web: www.epb.gov.bd
Office of the Chief Controller of Imports & Exports Bangladesh Tariff Commission
111-113, Motijheel C/A, Dhaka-1000, BangladeshPhone: 88-02-9551556, 9558427 Fax: 88-02-9550217
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12 Storied Building (9 th Floor), Segun Bagicha, Dhaka, Bangladesh Phone : 88-02-8314542, 9335993, 9333565Fax : 88-02-8315685
Jiban Bima Corporation Sadharan Bima Corporation
24, Motijhjeel C/A, Dhaka, Bangladesh Phone : 88-02-9552047-49, 9559951-2, 9554161Fax : 88-02-9561825
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33, Dilhusha C/A, Dhaka, BangladeshPhone : PABX 88-02-9566105-9 Fax : 88-02-9564197
Trading Corporation of Bangladesh Bangladesh Foreign Trade Institute
TCB Bhaban, 1 Kawran Bazar, Dhaka, Bangladesh Phone : 88-02-8111519, 8111516-17, 9118157 Fax : 88-02-8113582
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TCB Bhaban (5 th Floor), 1 Kawran Bazar, Dhaka-1215, BangladeshPhone : 88-02-8152478-9 Fax : 88-02-8152479
National Board of Revenue Bangladesh Bank
Segun Bagicha, Dhaka, Bangladesh Phone: 88-02-8318120-26, 831810-08 Fax: 88-02-8316143
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Head Office Motijheel C/A, Dhaka, BangladeshPhone: 88-02-9555000-21, 9550774-83, 7126101-20, 7126280-95, 7120344 Fax: 88-02-9566212 Email : gmprpbb@arani_bank.com
Bangladesh Export Processing Zones Authority (BEPZA) Chittagong Port Authority
BEPZA Complex, House No.19/D, Road No.6, Dhanmondi, Dhaka-1205, Bangladesh Phone: 88-02-9670530, 8650058-9 Fax: 88-02-8650060 Email : [email protected]: www.epzbangladesh.org.bd
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Port Bhaban, Saltgola Road, Chittagong, Bangladesh Phone: 88-031-812200-34, 712500, 741981-9 Fax: 88-02-710593
Mongla Port Authority The Federation of Bangladesh Chambers of
Commerce and Industry (FBCCI)
MonglaBagerhat, Bangladesh Phone : 88-041-762331, 761903 Fax : 88-041-762331 E-mail : [email protected]
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60, Motijheel C/A, Dhaka, Bangladesh Phone: 88-02-9560102-3, 9551233, 9560482, 9560589 Fax: 88-02-7176030, 9560588 Email : [email protected]: www.fbcci-bd.org
The Dhaka Chambers of Commerce & Industry (DCCI)
Metropolitan Chamber of Commerce & Industry (MCCI)
Chamber Building 65-66, Motijheel C/A, Dhaka-1000, Bangladesh Phone: 88-02-9552562, 9554383 Fax: 88-02-9560830, 9560732 Email : [email protected]
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Chamber Building, 122-124 Motijheel C/A Dhaka-1000, Bangladesh Phone: 88-02-9565208-10, 7161028-29 Fax: 88-02-9565212, 9565211 Email: [email protected]
Chittagong Chamber of Commerce and Industry (CCCI)
Khulna Chamber of Commerce and Industry (KCCI)
Chamber House, 38 Agrabad C/A Chittagong, Bangladesh Phone: 88-031-713366-9, 725539 Fax: 88-031-710183 Email: [email protected]
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Chamber Mansion 5 KDA C/A, Khan A Sabur Road Khulna, Bangladesh Phone: 88-041-721695, 721745, 723386 Fax: 88-041-725635 Email: [email protected]
Rajshahi Chamber of Commerce and Industry (RCCI)
Sylhet Chamber of Commerce and Industry (SCCI)
Chamber Bhaban, Station Road Rajshahi-6100, Bangladesh Phone: 88-0721-812122 Fax: 88-0721-812133
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Chamber Building, 97, Jail Road Sylhet, Bangladesh Phone: 88-0821-714403, 716069 Fax: 88-0821-715210 Email: [email protected]
Barishal Chamber of Commerce and Industry (BCCI)
Bangladesh Garment Manufacturers & Exporters’ Association (BGMEA)
Chamber Bhaban Nazira Pool, Show Road Barishal, Bangladesh Phone: 88-0431-61876 Fax: 88-0431-54691
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7-9, Kawranbazar, BTMC Bhaban, Dhaka-1215, Bangladesh Phone: 88-02-8115597, 8115751, 8122119 Fax: 88-02-8113951 Email : [email protected]: www.bgmea.com
Bangladesh Knitwear Manufacturers & Exporters’ Association (BKMEA)
Bangladesh Finished Leather and Leather Goods and Footware Exporters Association
233/1 BB Road, Press Club Bhaban Narayanganj, Bangladesh
House No: 61 Road No: 2A Dhanmondi R/A Dhaka-1207, Bangladesh
Phone: 88-02-9715494, 7611295, 7611857 Fax: 88-02-9716050 Email : [email protected]: www.bkmea.com
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Phone: 88-02-8622167-8 Fax: 8622167 Email: [email protected]
Leather Goods and Footware Manufacturers and Exporters Association of Bangladesh
Bangladesh Association of Software and Information Services (BASIS)
Erectors House (9 th Floor) 18 Kemal Ataturk Avenue, Banani C/A Dhaka-1213, Bangladesh Phone: 88-02-9880102-5 Fax: 88-02-8822453 Email: [email protected]
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BSRS Bhaban (14 th Floor) 12 Kawran Bazar C/A Dhaka-1215, Bangladesh Phone: 88-02-8151196 Fax: 88-02-8151197 Email: [email protected]
Light Engineering Product Business Promotion Council Leather Sector Business Promotion Council
Ministry of Commerce DCCI Building (9 th Floor), Room No: 1001 65-66 Motojheel C/A Dhaka, Bangladesh Phone: 88-02-9550104, 9550074 Fax: 88-02-9567149 Email: [email protected]
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Ministry of Commerce DCCI Building (9 th Floor), Room No: 1001 65-66 Motojheel C/A Dhaka, Bangladesh Phone: 88-02-9550104, 9550074 Fax: 88-02-9567149 Email: [email protected]
ICT Business Promotion Council Biman Bangladesh Airlines
Ministry of Commerce DCCI Building, (9 th Floor), Room No: 1001 65-66 Motojheel C/A Dhaka, Bangladesh Phone: 88-02-9550104, 9550074 Fax: 88-02-9567149 Email: [email protected]
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Balaka Bhaban, Kurmitola, Dhaka, BangladeshPhone : 88-02-8917400-10 Fax : 88-02-8917472-4
Zia International Airport Bangladesh Aushad Shilpa Samity
KurmitolaDhaka, Bangladesh Phone : 88-02-8914870-74, 896004(Flight Enq.), 896005 (Director) Fax : 88-02-8912322
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(Bangladesh Association of Pharmaceutical Industries)House No: F-31, Road No: 4, BananiDhaka-1213, BangladeshPhone: 88-02-9889731, 8816767Fax: 88-02-8816767Email: [email protected]
Bangladesh Frozen Food Exporters Association Bangladesh Textile Mills Owners' Association
Skylark Bhaban (10th Floor) 92 Motijheel C/A (1st Floor)
24/A, Bijoynagar, North South RoadDhaka-1000, BangladeshPhone: 88-02-8316882, 8317531Fax: 88-02-8317531Email: [email protected]: www.bffea.org
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Dhaka, BangladeshPhone: 88-02-9570124fax: 88-02-9556549Email: [email protected]
BANGLADESH MISSIONS ABROAD
Abu Dhabi Geneva Manama
Seoul Agartala Hanoi
Manchester Singapore Amman
Hong Kong Manila Sittawe
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Stockholm Bandar Seri Begawan Jakarta
Muscat Tashkent Bangkok
Jeddah Nairobi Tehran
Beijing Karachi New Delhi
The Hague Berlin KathmanduNew York (Consulate) Thimpu Birmingham
Kolkata New York (Mission) Tokyo
Brussels Kuala Lumpur Ottawa
Tripoli Cairo Kuwait
Paris Washington Canberra
London Pretoria Yangon
Colombo Los Angeles Rabat
Doha Madrid Riyadh
Dubai Male Rome
FOREIGN MISSIONS IN BANGLADESH
Country Index
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Italy Poland European Commission
THE HONORARY CONSULS/CONSULS GENERAL IN BANGLADESH
Country Index
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EXPORT POLICY 2009-12
23 April, 2008 The Export Policy 2009-2012 [Draft]Language: Bangla [191 KB]
23 April, 2008 The Export Policy 2009-2012Language: English
Export Policy 2009-2012
01. Introduction
02. Area
03. Objctives
04. Target
05. Strategies
06. Incentives/Assistance
07. Cash incentive
08. Financial facilities
Export Policy 2003-2006
The Export Policy 2003 - 2006 has been published both in Bengali and English Languages. If there is any inconsistency between the two versions the Bengali text will prevail.
1. Introduction
a) Increased production and massive expansion of commerce is one of the main means of local resource generation. Employment opportunities can be created in a populous country like ours with the promotion of export. This employment will pave the way for increased savings and investment, ensure capital flow, solve unemployment problems and eradicate poverty. In the field of commerce the main task of the government is to make Bangladesh economy strong and dynamic enabling it to face the challenges of rapidly changing world trade system. Currently the readymade garments (RMG) sector contributes two thirds of the Bangladesh’s total export earnings. But the market of the readymade garments is limited. The North America and European Union are the main destinations of our export items. Though Japan has a good market of garments, we are yet to actively enter into that market. There is a possibility of major changes of the role of RMG sector in Bangladesh’s export trading from 2005 or in the post MFA era. We need to undertake necessary measures so that the changes become favourable for Bangladesh.
b) There are scopes of thinking more about the necessity of developing backward linkage industries for a massive change in the RMG sector. But the reality suggests that there are scopes to adopt different means regarding backward linkage industries. In that case we will have to change our strategies in increasing the export of our products. Currently Bangladesh’s export trading depends on two products (75 percent RMG and 6 percent frozen food). Such dependence is not expected for any country. So we need to produce new products with higher values, develop the designs and find new markets.
c) Continued efforts are underway to create markets for Bangladeshi products since the present government took over. Already duty free access has been availed for the markets in European Union, Canada, Australia and Norway. Though in limited scale, Bangladeshi products already found their access with lower duty in the markets of Thailand, India and Pakistan. Talks are underway with China, Russia, Malaysia and other neighbouring countries in this regard. A good result is being expected within a short period. But duty free access or special facilities are not everything; rather the use of such advantages is the main concern.
d) Only through changes in RMG industry the development of export trading would be an absurd idea, rather it would be difficult even to survive in the present situation. So Bangladesh should proceed in other areas of export trading. Quality of conventional 2-export items has to be developed - along with increasing their production. The list of export items have to be expanded exploring the non-conventional sectors like ICT, light engineering and auto-parts, agro-processing and pharmaceuticals along with finding their appropriate markets. The product quality too will have to be high and acceptable and any deviation in this regard will weaken our position in export trading. And if the export trading is not expanded, the desired national growth could not be achieved resulting in the economic backwardness, which would bar the overall national progress.
e) In order to promote export, scopes should be there to pay prices both under LC and contractual agreements. Besides the existing VAT and duty structures should be made time befitting and realistic. Moreover new products have to be added in the export basket.
f) Against the above backdrop the Export Policy 2003-2006 has been formulated.
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2. Area
The objectives and targets, strategies, incentives/assistance that would be provided to expand export trading are presented serially below:
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3. Objectives
Capacity building of export related institutions like EPB (through its reorganization to enhance institutional efficiency), customs department, land and sea ports, fisheries department, BSTI, Tea Board and trade bodies;
Product diversification; Develop product quality and design and production of high value products; Adopt new strategies for expanding export products, ensure good use of IT or computer
technology, E-commerce and other technologies; Develop necessary infrastructures and in required cases backward and forward linkage
industries to ensure production of maximum volume of exportable items; Create new exporters and provide all assistance to existing exporters and develop a business
friendly attitude; Develop expert manpower on trade ; and Equip trade bodies, businessmen and concerned people with necessary knowledge on
systems of world trading.
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4. Target
4.1 The export targets for 2004-2005 & 2005-2006 have been fixed at US$ 8565.78 million and 9,599.20 million respectively.
4.2 Export growth is as follows :
Fiscal year % of growth
2002-2003 +9.39%
2003-2004 +16.10%
Source: Bangladesh Export Statistics 2002-2003
4.3 Export as a percentage to Imports for the last 3 years is as follows :
(Value in million US$)
Fiscal year Exports Imports Export as a percentage to Imports
2001-2002 5986 8540 70.09%
2002-2003 6548 9658 67.80%
2003-2004 7603 10903 69.73%
Source : Bangladesh Export Statistics 2002-2003
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5. Strategies
Provide assistance through developing necessary numbers of product development councils for increased product of export items;
Provide market intelligence to producers and exporters on product demands and prices in markets abroad;
Offer increased institutional facilities through trading and export houses to encourage export;
Offer assistance in establishing seal of quality organization or similar organizations to ensure quality of export items in required cases;
Offer assistance in establishing “Bangladesh International Arbitration Centre” or similar organizations for prompt settlement and disposal of Trade disputes;
Offer assistance to producers for development of product designs and use of modern technology;
Offer assistance to enable exporters getting acquainted with the strategies and methods of countries which attained remarkable success in export trading and highlight the exporters; and
Organise single country export fair for Bangladeshi products abroad and offer assistance to exporters in participating trade fairs in different countries;
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6. Incentives/Assistance
6.1 Government has declared the following package of incentives/facilities: 6.2 Fiscal facilities : Income tax exemption for export earning: Under the income tax law other than the owners
of factories not registered in Bangladeshi, all exporters will get 50% exemptions in their income taxes.
Exemption in insurance premium: Bond facilities for export oriented industries: Facilities for duty free import of capital machineries for export - oriented industries: The export-oriented industries will get the advantage of importing 10 percent spare parts of
their capital machineries without duty in every two years. Providing alternative facilities to export-oriented local textiles and RMG other than duty-
bond or duty-draw-back: Tax holiday: Duty-draw-back scheme.
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7. Cash incentive
The rate of cash incentive as provided by the Government for export of different commodities is as follows :
Sl. NO. Name of Commodities FE Circular No. & date of
Bangladesh Bank% of Cash Incentive
01. Frozen Shrimp and other fish FE No. 23,12th December, 2002 10%
02.
Product Made of HoOgla, Straw, Coir of Sugar Canea) If local raw materials is used more than 80%b) If local raw materials is used more than 50%
FE No. 2612th December, 2002
(a) 15%(b) 10%
03. Bicycle FE No. 27, 12th December, 2002 15%
04. Crushed Bone FE No. 25, 12th December, 2002 15%
05. Agro and Agro Products (Vegetables/Fruits/Agro Processing)
FE No. 05,25th July, 2004 30%
06.
Local Fabrics (I/C Handloom Fabrics)- For 2002-2003- For 2003-2004- For 2004-2005
FE No. 10,5th June, 2002
15%10%5%
07. Jute Products FE No. 19, 12th August, 2002 7.5%
08. Leather Products FE No. 12th December, 2002 15%
09. Tobacco FE No. 01,28th December, 2003 10%
10. Potato FE No. 01, 28th December, 2004 15%
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8. Financial facilities
8.1 Use of foreign currency :
The exporters can deposit a certain amount of their export earning in foreign currency under a retention quota in their foreign currency account in the forms of US dollar, pound sterling, Japanese yen or euro. The amount of the retention (in terms of percentage) will be fixed by the government/Bangladesh Bank. This foreign currency can be used to fulfill real business needs like business trips abroad, participation in export fair or seminars in foreign countries, import of raw materials and spare parts and setting up office abroad. Presently 10% has been fixed for lower value added products (like RMG, petroleum by products, Naphtha, furnace oil etc.) and 50% for high value added products (like Computer software and data entry/processing service etc.)
8.2 Export Promotion Fund (EPF) :
(i) Offer venture capital with less interest rate and easy term for production; (ii) Assist in getting foreign technical assistance, service and technology in product development and diversification (iii) Assist in sending marketing missions abroad and taking part in international fairs for market promotion in foreign countries ; (iv) Assist in setting up sales and display centre abroad and warehousing facilities ; (v) Assist in participating product development and marketing training programmes for export promotion through attaining technical and marketing efficiency ; and(vi) Facilitate in other activities for product and market development.
8.3 Providing fund for export :
(i) Interest free loans will be provided under duty-draw-back credit scheme (ii) Import process of raw materials and related products will be made easier under the export promotion fund (EPF).(iii) Facilities will be provided to open back to back LC for all exportable; and(iv) The proposals for importing capital machineries with soft term loan with lesser interest rate can be considered for export promotion.
8.4 General facilities :
» The enterprises that export 80 percent of their products will get the facilities given to export-oriented industries.
» Reduced plane fare for priority products including vegetables and fruits.Biman will consider measures for reduced plane fare for exporting fruits, vegetables and ornamental plants by air.
» Withdrawal of royalty for expansion of cargo services of foreign airlines for export promotion:
» Fixing of limit for sending sample of export products annually :
» Arrangement and participation in international and single country trade fairs and other market development programmes abroad:
» Incentives will be given for organizing and participating in international trade fairs, single
exhibition and other market development programmes and arranging single country trade fairs jointly by government and non-government organizations.
» Every year product-wise Commercially Important persons (CIPs) will be selected on the basis of the exporters' extra ordinary contributions to export promotion.
» National Export Trophy (NET) will be given in recognition of extra ordinary contribution to export.
» The Export Credit Guarantee Scheme (ECGS) will be restructured, activated and made efficient.
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INDUSTRIAL POLICY 2005
CONTENTSChapter 01 Introduction
Chapter 02 Objectives
Chapter 03 Policy Strategy
Chapter 04 Definitions and Classifications of Industrial Enterprises
Chapter 05 Facilitating Role of Relevant Ministries and Public Institutions in Industrialization
Chapter 06 Privatization of State-Owned Enterprises and the Privatization Commission
Chapter 07 Fiscal and Financial Incentives
Chapter 08 Extensive Establishment of Small and Medium Enterprises (SMEs) and Cottage Industries for Countrywide Industrialization
Chapter 09 Establishment of Special Economic Zones Based on the Importance of the Industries, Availability of Inputs and Regional Facilities.
Chapter 10 Productivity and Industrial Relations
Chapter 11 Participation of Women Entrepreneurs in Industrialization andtheir Advancement
Chapter 12 Investment Criteria of Feasibility Study for Planned Industrialization
Chapter 13 Export-Oriented and Export-Linkage Industries Foreign Investment
Chapter 14 Foreign Investment
Chapter 15 Board of Investment
Chapter 16 Export Processing Zones
Chapter 17 Industrial Technology
Chapter 18 Technical and Institutional Assistance
Chapter 19 Implementation, Monitoring and Review
Chapter 20 Annexes
Annex 1: Thrust Sectors
Annex 2: Service Industries
Annex 3: Reserved Industries
Annex 4: Investment Criterion
Annex 5: Acronyms
Chapter 1 INTRODUCTION
Bangladesh is a developing country, and the present government is striving relentlessly to attain rapid economic development in the country. Many programs taken so far have been carried out successfully. Despite a lack of resources faced by the government, development programs in the key sectors have continued. At the same time, considering the importance of the private sector, an all-out support is being provided to initiatives taken in this sector. As a result, a new kind of dynamism is under way in both th~ public and private sectors. In this backdrop, it is essential to examine various aspects of industrialization and its impacts on overall economic activities.
Given the present environment of global competition, the private sector is playing an important role in the industrialization of the country. Therefore, the Government in the Ministry of Industries has taken the role of a facilitator. Faced with the challenges of the free market economy and globalization, the government has accepted private ownership and management of industrial enterprises as one of the major guiding forces in achieving economic growth. Besides this, the government has also brought about many constructive and timely reforms in the running of businesses, and liberalized trade so that private entrepreneurs can seize opportunities of establishing and running industrial enterprises profitably and freely
In the meantime, quite a number of publicly managed industrial enterprises have already been sold out and transferred to private ownership. In order to establish economically prospective industries in industrial sub-sectors, there are plans to set up industrial parks and special economic zones so that huge amount. of unused and abandoned land can be utilized. All this is aimed at fostering industrialization and economic development and generating employment opportunities in the country.
To reduce poverty and generate employment opportunities, more efforts are needed to establish agro-based industries as well as to raise agricultural production.. This will ensure the protection and fair price of agricultural products and employment of a huge number of unemployed people. In order. to create further employment opportunities beyond the agricultural sector, initiatives should be taken to set up small, medium and large industries across the country. If these types of industries are set up in a planned way, then unemployment rates will decline and poverty alleviation will be accelerated. With these objectives in mind, the Industrial Policy has been radically reshaped.
In order to provide administrative, institutional and infrastructure facilities in the country's industrialization, there are organizations such as the Bangladesh Stranded and Testing Institution (BSTI), Bangladesh Industrial Technical Assistance Center (BIT AC), Bangladesh Institute of Management (BIM), Bangladesh Small and Cottage Industries Corporation (BSCIC), National Productivity Organization (NPO) and Small and Cottage Industries Training Institute (SCITI) under the Ministry of Industries, and the National Institute of Textile Training, Research and Design
(NITTRED), Textile Vocational Institutes, Textile Diploma Institute and Bangladesh Silk Research and Training Institutes
Under the Ministry of Textiles and Jute. For the leather industry, the Bangladesh college of Leather Technology and different district level polytechnic institutes provide technical education. These institutes also provide assistance for industrialization by providing training on management and quality control of goods, safeguarding consumers' interests, producing and repairing import-substitute spare-parts used in industries, manufacturing new tools necessary for the production of industrial goods that are in demand, and by improving efficiency and overall productivity. However, many industrial entrepreneurs are not fully aware of the necessary technical and other assistance available for the industrial sector through these institutes. Theref0re, extensive publicity is necessary for the proper use of these important institutes and the facilities available there.
In order to' further strengthen the country's industrialization process, the present" government has identified the Small and Medium Enterprises (SMEs) as a priority sector and as the driving force for industrialization. A national taskforce led by the Principal Secretary of the Prime Minister's Office has been formed so that proper policies and planning are followed in establishing SMEs. At the same time, with a view to providing entrepreneurs with assistance in the establishment of SMEs, a cell has been created under the supervision of the Ministry of Industries comprising officials experienced in SMEs from the Ministry of Industries, Bangladesh Small and Cottage Industries Corporation (BSCIC), National Productivity Organization (NPO), Asian Development Bank (ADB), FBCCI, National Association of Small and Cottage Industries, Bangladesh (NASCIB) and women entrepreneurs.
The provisions of all facilities for attracting foreign investments have been envisaged in the Industrial Policy. The government has taken an initiative to formulate a separate SME policy to provide entrepreneurs with necessary guidance and strategic support in respect of the establishment of SME industries all over the country. These strategic guidelines will be followed in establishing SMEs across the country.
Far-reaching changes have occurred in the past decade in economic and social activities across the globe, especially with regard to the participation, contributions and successes of women in industrial activities. Therefore, the creation of women entrepreneurs and their participation in industrialization have been given considerable prominence in the present Industrial Policy.
Necessary steps have been taken to hygienically preserve and market agricultural products of Bangladesh. With this end in view, measures will be taken for the preservation of frozen, pasteurized, canned and dry foods in a modern and hygienic way 'in order to sell them in local and overseas markets throughout the year.
Steps will be taken to properly utilize the natural and mineral resources of the country such as gas, coal, hard rock, limestone, silicon, monazite, zircon, rutile, oyster, pearl, coral1 fossil, seaweeds, etc, available in the country's long sea-beach so that new profitable industries can be set up. Steps will also be taken at the same time to use solar power and municipal refuse to generate electric power in order to minimize power shortage in running small and cottage industries.
This is an age of information and communication technology (ICT). The application of ICT in running industrial enterprises efficiently and profitably can ensure quality development of goods, make production cost-effective and ensure faster customer services. So, providing further importance and incentives to the use of ICT in a number of sectors is one of the notable features of the present
Industrial Policy.
The industrial sector is likely to grow rapidly over the next decade raising its contribution to the country's GDP to 30 to 35 percent, and the workforce in this sector is expected to increase to 35 percent of national employment need. In order to attain this growth in this sector, special importance has been given in the Industrial Policy on agro-based and agro processing industries and on steps to overcome possible adverse conditions in the export oriented garment sector. Importance has also been given on considering the SMEs and cottage industries as one of the major driving forces, providing assistance to women entrepreneurs on a priority basis, setting up special economic zones in different parts of the country, improving the quality of industrial products to world standard, marketing of goods at competitive prices, and enhancing productivity in the industrial sector
There is a proposal in the Industrial Policy for the formation of a high level committee led by Minister of Industries and comprising senior officials from public and private organizations involved in industrialization. This committee will submit a report to the Cabinet for its decisive approval, and afterwards the relevant ministries/divisions/ agencies will take necessary programs for industrialization to get underway in the approved sectors.
In the end, it can be hoped that the guidelines contained in the new Industrial Policy will help expand planned industrialization in the country, bring about sustainable and continuous industrial growth, and overcome the past failures of industrialization to a great extent. As a result, a sound and prospective foundation of economic development will be established. This will help bring about poverty alleviation, create further employment opportunities, reduce unemployment instances, improve living standards of people, and achieve an overall economic growth in the country.
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Chapter 2 OBJECTIVES
2.1 One of the foremost objectives of the Industrial Policy 2005 is to set up planned industries considering the real domestic demand, prospect of exporting goods abroad, and discouraging unplanned industries in the light of past experience
2.2 Accept private initiatives as the main driving force of economic development and uphold the
government's facilitating role in creating a favourable atmosphere in order to augment private investments in the country's industrialization, given the background of a free market economy and globalization,.
2.3 Arrange for state-owned industrial enterprises to be sold/transferred/leased or administered
in any other way by the Privatization Commission or concerned ministries in order to accelerate the privatization process.
2.4 Take necessary initiatives to set up industries with private entrepreneurships, and where that
is feasible, establish industries on state initiative in those sectors that are considered very important and essential because of national interest, where private entrepreneurs are not forthcoming.
2.5 Catering the needs for local and foreign market and also for consumer satisfaction of the
local products; measures to be undertaken (a) produce world class quality products, (b) diversification of goods, (c) introduce cost-effective management in the production system, (d) more value addition in the industrial sector, and (e) provide support for enhancing
productivity by using continuous, appropriate and advanced technology 2.6 Provide assistance to augment the industrial sector's contributions to the GDP of the national
economy, meet the general demands of local consumers and earn more foreign exchange so that local industrial entrepreneurs can attain further capacity to establish industries, and industrial goods can have access to the overseas market on a competitive basis.
2.7 Provide inspiration for the speedy expansion of cottage industries and SMEs and for further
investment in these sectors so that new employment opportunities are generated, unemployment reduced and poverty alleviation program made in the country.
2.8 Prioritize the expansion and development of agro-based and agricultural processing
industries, and assist in the expansion of poultry, dairy and goat-sheep industry as agricultural industries.
2.9 Provide women entrepreneurs with all necessary assistance in establishing industries in
various sectors. 2.10 Increase productivity at enterprise level; produce high-value added products step by step
through development and application of appropriate technology and increase of export through export diversification.
2.11 Provide all necessary assistance for producing environment-friendly product with the
objective for creating a pollution-free environment in the industrial sector. 2.12 Expand the local market and establish more backward linkage industries in order to
accelerate the export of high value-added garments produced in the export oriented garment industries and other relevant industrial sub-sectors.
2.13 Further enrich the industrial sector with the proper utilization of the country's various natural
and mineral resources. Top
Chapter 3 POLICY STRATEGY
3.1 Ensure full utilization of current production capacity in the industrial sector, especially by reusing that it is not hampered because of infrastructural deficiency.
3.2 Provide special facilities as well as infrastructural support to Cottage and Small and Medium
Enterprises (SME) located in-different parts of the country. 3.3
Provide financial, technical, technological and infrastructural facilities in order to inspire setting up and developing agro-based industries.
3.4
Take steps to preserve and market agro-based goods hygienically by processing in frozen, pasteurized, canned or dry form so that goods produced in the country are preserved and marketed in compliance with modem standards in order to ensure that they can be made available in the local market or exported throughout the year.
3.5Take steps to properly utilize the natural and mineral resources in the country such as gas, coal, hard rock, limestone, silicon, monazite, zircon, rutile, oyster, pearl, coral, fossil, seaweeds, etc, available on the long sea-beach so that new profitable industries can be set up.
3.6
Take action to use solar power and municipal refuse to generate electric power in order to run small and cottage industries.
3.7
Assist backward linkage industries on a priority basis. The objective is to diversify and produce goods of world standard and value added items so that they help to diversify our exports
3.8
Consider the readymade garment and textile industries as a priority sector in view of their special contributions to the country's export trade.
3.9
Provide necessary assistance to value added linkage industries and subcontracting industries so that they are developed.
3.10 Provide assistance to waste management development in order to ensure proper waste
minimization and waste removal and produce pollution-free goods 3.11 Strengthen and ensure efficiency in import substitution industries so that the gradually
increasing demand for goods in the local market can be met. 3.12 Inspire well-proportioned industrialization across the country by providing incentives,
wherever necessary. 3.13 Conduct a survey to determine the demand in the local market of goods produced in sick
industries as a primary step towards the rehabilitation and development of those industries. In view of competition in the local market, take action to reduce the production cost of goods in sick industries in a cost-effective way so that the qualitative standards. of goods and productivity are ensured.
3.14 Provide incentive to various institutions that are concerned with technological and technical
efficiency enhancement, side by side with human resources development, in order to improve efficiency in the industrial sector.
3.15 Remove policy discrimination, if any, between domestic and foreign investments, and
enhance regional and sub-regional cooperation. 3.16 Privatize non-profitable industries in the state sector quickly and in phases. Restrict state
investment and administration only to those industries in the public sector which the government think are not safe for investment in the private sector.
3.17 Provide all-out assistance to create a strong capital market so that investments in the
industrial sector are increased. 3.18 Give preference to infrastructural development including ports, power, transport and
communications, and human resources development. Specifically promote. private
investments along the principles of construction, administration and BOO, and construction, administration and BOT in these sectors.
3.19 Quite a number of publicly managed industrial enterprises have already been sold and
transferred to private owners. Take initiatives to set up industrial parks with a view to establishing economically viable industries in these industrial sub-sectors
3.20 Provide further structural and other facilities to establish and develop compact industrial
areas. Develop planned industrial areas by establishing Special Economic Zones in areas with vast economic potentials, and utilizing local resources.
3.21 Take necessary steps to bring about the country's industrial development in line with
different agreements with the World Trade Organization (WTO). 3.22 Consider highly developed technology-based seed breeding, production and development,
and agricultural goods processing activities as industries. At the same time, take strong steps regarding the diverse use of jute.
3.23 Market daily essentials such as flour produced from wheat in flour mills, refined edible oil
produced from unrefined edible oil, refined salt produced from unrefined salt, etc, after enriching them with vitamins, minerals and iodine.
3.24 Arrange for incentives to be given for research and development, acceptance and transfer of
environmentally friendly appropriate technology. At the same time, develop market-oriented institutional structure in overall technological development.
3.25 Promote foreign direct investments in order to bring about technology transfer, efficiency
and management development and enhance marketing skills. 3.26 Establish coordinated and extensive Management Information Service (MIS) comprising
different public and private agencies under the Ministry of industries (various chambers of commerce and industries) and arrange for information received from MIS to be supplied to administrative divisions and districts levels.
3.27 Create a long-term credit fund to generate industrial production capacity and also a venture
capital fund to support in the commercial production and marketing of creative industries. 3.28 Collect information on industrial development and arrange for technology dissemination
through the Technology Dissemination Cell, set up at the Ministry of Science and Technology, Industry and Business Association, and the Bangladesh missions abroad.
3.29 Take assistance from extended administrative-judicial system (Financial Loan Courts,
Arbitration Centers and various other tribunals) in order to resolve trade disputes quickly and at minimum cost.
3.30 Ensure the availability of the working capital from financial institutions after the.
establishment of an industry so that working capital can be obtained in time. 3.31 Ensure the availability of assistance of the capital market so that industrial entrepreneurs can
overcome the lack of capital and mobilize the necessary capital from the capital market in order to establish or administer industrial enterprises.
3.32 Consider other industry related policies such as the Textiles Policy, Jute Policy, and Silk
Policy as supplementary to the Industrial Policy.
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Chapter 4Definitions and Classifications of Industrial Enterprises
4.1 Broadly speaking, industry includes manufacturing and service activities 4.2 Production, processing and assembling, and rehabilitation and fabrication of manufactured
goods are included in industry. 4.3
The services that are received through the use of machinery and durable resources. are included in the service industries. The service industries have been enlisted in Annex-2.
4.4
Definitions of industries in the manufacturing sector: (a)"Large Industry" means an industry in which the value/replacement cost of durable
resources other than land and factory buildings is above 100 million taka. (b) "Medium Industry" means an industry in which the value/replacement cost of durable
resources other than land and factory buildings is between 15 million and 100 million taka. (c) "Small Industry" means an industry in which the value/replacement cost of durable
resources other than land and factory buildings is under 15 million taka. (d) "Cottage industry" means an industry in which members of a family are engaged part-
time or full-time in production and service-oriented activities. 4.5 Definitions of industries in the non-manufacturing sector (trading and other services): a)"Large Industry" means an industry in which more than 100 workers work. b)"Med~um Industry" means an industry in which 25 to 1 00 workers work c) "Small Industry" means an industry in which fewer than 25 workers work(unlike family
members in a cottage industry). Reserved industries: 4.6 Those industries that are necessary to be kept reserved by the government in the interest of
national security and are sensitive have been identified as reserved industries. A list of reserved industries has been given in Annex-3
Thrust sector: 4.7 The thrust sector will mean those industries/industrial sub-sectors which have already been
able to successfully contribute to the country's industrialization and poverty alleviation by increasing GDP, creating employment opportunities and increasing export income. Special incentives and financial facilities such as tax exemptions, exemption from dual taxation, tax holiday, and taxation at a reduced rate or accelerated depreciation (if the tax holiday and tax exemption facilities cannot be provided for new industries in the future) can be considered. The facilities provided to those industries that are established in EPZ areas includingexport-oriented industries can also be provided to the thrust sector. The objective will be to use domestic technology, import substitution, adjustment and/or export augmentation. But entrepreneurs under the thrust sector will not receive these facilities automatically. The government will determine the facilities to be received by thrust sector entrepreneurs after analysing and reviewing the performances and contributions of their sub-sectors/industrial enterprises to the national economy. A list of the thrust sector has been given in Annex-1.
4.8The definitions of the abovementioned industries may change over time and variation of location.
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Chapter 5 Facilitating Role of Relevant Ministries and Public Institutions in Industrialization
5.1 The Bangladesh government gives importance to the private sector as a driving force of industrialization, and has brought about constructive and realistic reforms in formulating policies. The government will provide assistance in the following way to playa supporting role through concerned public institutions:
(a) Before setting up industries, all foreign investors will register with concerned offices in a measured manner.
b) The Bangladesh Small and Cottage Industries Corporation will allot industrial plots in its own industrial areas and in other industrial areas created with specific objectives. Similarly, the Bangladesh Export Processing Zones Authority (BEPZA) will allot plots in its own areas. The Board of Investment will make necessary recommendations and take steps to allot land where public land is available.
(c) The concerned utility agencies will determine the timeline for providing electric power, gas, water and sewerage, and telephone connections in consultation with relevant authorities and provide clearance regarding environmental pollution. Wherever possible, these authorities will provide their services through one-stop service centers.
(d) The Board of Investment and BEPZA will approve, as necessary, the royalty, technology or technical assistance fees and the appointment and remuneration of foreign employees.
(e) The sponsoring authority will provide entrepreneurs with advance information in order to avoid investment risks because of unplanned and excessive investments in certain sectors.
5.2 Approval will be given for establishing EPZ areas and developing industrial parks in the
private sector. The government will provide all possible assistance for the EPZ areas and parks to be developed.
5.3
Accreditation bodies will be set up and arrangements made for properly conducting activities of public and private laboratories/institutions engaged in examining and fixing the standards of goods produced at home or imported from abroad.
5.4
Activities of training institutes under different ministries that are engaged in human resources development in the industrial sector will be made more dynamic and effective. These institutes include the Bangladesh Institute of Management (BIM), National Productivity Organization (NPO), Small and Cottage Industries Training Institute (SCITI) and Training Institute for Chemical Industries under the Ministry of Industries; the Textile Industrial Development Center under the Department of Textiles; the training institutes under the Bangladesh Jute Mills Corporation; Bangladesh Handloom Board and Bangladesh Silk Board; and some other relevant training institutes.
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Chapter 6Privatizing State-Owned Industries and the Privatization Commission
6.1 The present policy of privatizing public sector industries will be pressured with vigor.
6.2 Investments in the public sector will be restricted to the "reserved sector". State investments
in the industrial sector will be treated as residual investment in the future. State-owned enterprises will be complimenting to private sector industries and will be encouraged to compete.
6.3 The present state-owned industries will be given autonomy as far as possible so that they are
run on commercial lines. 6.4 Except for the reserved sector, capital will gradually be withdrawn from stateowned
corporations 6.5 100% shares of public sector enterprises will be sold out, if necessary. 6.6 Shares of public sector industries will be sold out to the public to ensure wider distribution
of shares and securities to the public and to involve the public in the management of these industries.
6.7 Bangladeshis working abroad will be encouraged to buy shares of industrial enterprises in
foreign currency If the Privatization Commission cannot privatize state-owned enterprises successfully, then
the concerned ministry will sell/transfer/lease those enterprises or take any other action in this regard.
The Privatization Commission and privatization policies: 6.8 The government is committed to bring about quick privatization of state-owned industries,
businesses and service institutions. The reason is to strengthen the role of the private sector in the national economy and establish the private sector as the main carrier of development, given the sick and deteriorating condition of stateowned enterprises. With this end in view, the government has formed the Privatization Commission. The main objectives of the Commission are to:
(a) promote social welfare by enhancing efficiency; (b) attract foreign investments, enhance efficiency and improve mutual relations; (c) generate revenue; (d) release resources from loss-making industries and invest in other social and public
welfare activities; and (e) stimulate competition so that employment opportunities are created and protected. 6.9 Privatization policies to be followed: (a) To protect the interests of workers, employees and officers; (b) give importance to consumers' and good will; (c) avoid possible closure of any industrial enterprises; (d) consider the market price as the sale price; (e) safeguard the interests of consumers; (f) conclude transfer documents or agreements; and (g) maintain transparency, privacy and unbiased behaviour. 6.10 Activities of the Privatization Commission in brief: (a) To formulate program of privatization; (b) assess the value of industries/ trade/ service institutions marked for privatization; (c) draw up guidelines for preparing reports on privatization related assessment;
(d) sell industrial enterprises through tender; (e) transfer portions of shares to staff when selling shares through Stock Exchange; (f) sell the public shares of private limited companies; (g) conclude management agreement; (h) give lease; (i) sell/liquidate assets directly; (j) prepare a progress report on privatization activities; and (k) take back the possession of privatized enterprises. Top
Chapter 7Revenue and Financial Incentives
7.1 There will be no differences between the same types of industries established in the public and private sectors in respect of customs duty and other taxes.
7.2 (a) As of today, the tax holiday facility will be provided till the end of 2005 on the basis of
the locations of industrial enterprises. After that time, this facility will depend on what the government decides in this regard. However, tax holiday will not be applicable for extended units of industrial enterprises. At least 40% of the tax-free income must be invested.
(b) As an alternative to tax holiday, industrial enterprises will receive depreciation at the rate
of 100% in the first year. Apart from this, industrial enterprises receiving tax holiday will be entitled to 80% depreciation in the second year and 20% depreciation in the third year for their extended unit plants and machinery.
(c) If the tax holiday and tax relief facilities cannot be provided for setting up new industries
in the future, then taxation at a reduced rate will be considered. (d) Agro-processing industries and computer software businesses will receive income tax
relief from 1 July 2002 to 30 June 2006. (e) Credit equity ratio will be fixed at a reasonable rate to inspire investment in textile
industries (f) Industries established in EPZ areas will continue to receive income tax relief for 10 years
from the date of commercial production (g) As an alternative to tax holiday, industries established between 1 July 2002 and 30 June
2005 will receive the taxation facility at a reduced rate of 20% (h) Industrial enterprises engaged in the production of readymade garments will receive the
taxation facility at a reduced rate of 10% on their export incomes till 30 June 2006; jute goods industries will receive the taxation facility at a reduced rate of 15% on their export incomes till 30 June 2006; and textile industries will receive the taxation facility at a reduced rate of 15% on their export incomes till 30 June 2006.
(i) 'Financing institutions will be encouraged to fix their interest rates at the minimum on
their short- and long-term loans for industrialization. 7.3 The present structure of duty concession on machinery imports will continue. Imported
machinery and spare parts will be exempt from payment of V AT subject to existing conditions. In addition to other incentives schemes, activities of the Equity and Entrepreneurship Fund (EEF) will be intensified to give priority to entrepreneurs of under-
developed areas and entrepreneurs of the BSCIC industrial enclaves in receiving loans from this fund.
7.4 The duty structures of imported raw materials, intermediate goods and manufactured goods
will be set at gradually escalating rates. 7.5 In order to eliminate unequal competitions between goods produced at home and goods
imported, the prevailing duty structures will be made reasonable, if necessary. If any items are illegally imported at a dumping price - a price that is unjustified and below the production costs, then with recommendations from the Bangladesh Tariff Commission, the anti-dumping law will be applied and counter-veiling duty imposed.
7.6 Industrial enterprises established outside the EPZs, and industrial units with 100% foreign
investments, joint ventures (Type B) and local ventures may conclude foreign exchange related agreements with foreign creditors with the prior approval of the Board of Investment. 100% foreign owned industrial units (Type A) situated in that area can take credit from abroad without prior approval. The principal amount and interests of these loans can be paid without the prior approval of the Bangladesh Bank
7.7 Special incentives will be given to non-resident Bangladeshis in order to encourage them to
make investments in the country. They will be provided with the same facilities that are given to foreign investors in respect of making investments in Bangladesh. The Securities and Exchange Commission will reserve 10% of the initial public offers for non-resident Bangladeshis. Besides, they can keep deposits of foreign exchange in their NFCD (Non-resident Foreign Currency Deposit) accounts
7.8
Special revenue facilities (as described in Section 4.7) will be provided to industries marked as "thrust sectors", SMEs and cottage industries
7.9
Industrial enterprises registered with the Board of Investment need not pay any transfer fee and gains tax to purchase land for setting up new industries or to transform an industry into a limited company provided that no changes can be made in the ownership structure after that transfer.
7.10
Steps will be taken to create an industry fund in the Bangladesh Bank, strengthen specialized banks, establish a country fund, expand the capital market, create an endeavour fund, and rationalize the tax holiday system.
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Chapter 8 MASSIVE ESTABLISHMENT OF SMALL, MEDIUM ENTERPRISES (SMES) AND COTTAGE INDUSTRIES IN COUNTRYWIDE INDUSTRIALIZATION
8.1 The development and expansion of SMEs is regarded as a very important medium of achieving industrialization and economic growth in both developed and developing countries. The role of SMEs in industrial revolution in the industrialized world was enormous, and this trend has continued to-date. The role of SMEs in generating investment, savings, profit, employment opportunities, export, regional industrialization and improvement of people's living standards as well as national development is very important.
To this end, forward linkage, backward linkage, value addition activities and productivity improvement should be accelerated in order to establish and expand SMEs in the manufacturing sector. As such the SME sector has been treated as a priority sector in the Industrial Policy 2005.
SCOPE OF SMES 8.2 The structural arrangements of Bangladesh's industries show that jute, textiles, paper, steel
and engineering, cement, chemical, fertilizer and pharmaceutical industries are under the big and medium scale industries. On the other hand, specialized textile industries (including garments), backward linkage industries, hand-operated welding, food processing and food linkage industries, leather, ceramics, light engineering including automobiles, basic metal engineering, small scale chemical engineering, rubber industries, paper printing and publishing industries, small fabrication industries, non-metal mineral products, batteries, electrical, electronics, handicrafts, agro-based industries, multilateral jute goods, silk industries, fruit processing, poultry farming, fisheries, tea-gardening and processing, vegetable seed farming, floriculture and agro-forestry, and printing industries, ginning and baling, construction industries, transportation (including automobiles), cinema and photography, pathological laboratories, cold storage, furniture, computer industries, fast food, frozen food, etc, under service industries, and many other sectors are included in the SMEs.
8.3 SMEs will be established on a greater scale across the country in order to bring about
poverty alleviation, unemployment reduction and creating more employment opportunity so that national economic growth can be attained. To this end, the government has taken an initiative to draw up a separate SME policy with a view to providing necessary guidelines and strategic assistance in respect of establishing SMEs throughout the country. The guidelines and strategy incorporated in the relevant policies will be pursued in establishing and expanding SMEs of all kinds throughout the country.
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Chapter 9ESTABLISHMENT OF SPECIAL ECONOMIC ZONES BASED ON THE IMPORTANCE OF THE INDUSTRIES, AVAILABILITY OF INPUT SAND REGIONAL FACILITIES.
9.1 In some of the Asian and Pacific countries, such as Taiwan, China, Singapore and Malaysia, industrial enterprises have been established in various regions considering their socioeconomic conditions and importance, and economic arid commercial opportunities on the basis of the availability of various facilities.
Many other countries across the world are pursuing this concept. The setting up of special economic zones in Bangladesh considering the socioeconomic background and facilities available in various regions is equally important.
9.2
Because this concept to a great extent is cost-effective and economically profitable, special economic zones will be established across Bangladesh on a priority basis considering the nature and types of industries and comparative costs across regIOns
9.3
A considerable size of land has remained unproductive because of salinity and infertility in a number of regions in the country. On the other hand, the labor-and creative working capacity
of a great number of efficient people cannot be utilized because of lack of opportunity. Therefore, initiatives will be taken to establish and run industries profitably in special economic zones on the basis of facilities available in various regions so that unused land, human and other resources can be properly used.
9.4
By creating special economic zones, cluster villages can be established quickly for running industrial enterprises. Cluster villages can be set up in especial economic zones for industries such as leather industries, hosiery industries, small chemical industries (paint, varnish, etc), dyeing, printing and finishing, electronics, electrical goods, handicrafts, boutique, etc.
9.5
As a foremost strategy for maintaining balance in the country's economic development, initiatives will be taken to set up industrial enterprises on a limited scale and on a trial basis in economic zones.
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Chapter 10 PRODUCTIVITY AND INDUSTRIAL RELATIONS.
10.1IProductivity improvement program shall be undertaken as a driving-force by using continuous and modern technology in all national economic activities including agriculture sectors, especially in industrial enterprises and institutions with the objective to build a self-reliant Bangladesh and also for facing the present challenges of globalization and free market economy.
10.2
The productivity enhancement program will be" pursued as a national movement under government support. The objective is to establish good relations and understanding between all concerned parties (workers, owners and the government) in order to speed up productivity in all national economic activities, especially in the industrial field.
10.3
It has been proposed that the month of January will henceforth be observed as the productivity month with a view to strengthening productivity enhancing activities in all industrial enterprises and institutions. The aim is to continue a positive productivity enhancing effort in the industrial sector throughout the year.
10.4
In recognition of success in manufacturing quality goods of international standard and successful running of an industrial enterprise, a national "Excellence in Productivity and Quality" award will be given every year from now on to an institution which will achieve the highest productivity records
10.5 A separate policy entitled "Productivity Policy" will be drawn up which will
provide help to and exert influence on developing productivity in the country. 10.6
To ensure application of productivity enhancement strategies in all industrial enterprises and
institutions, productivity-training programs for human resources development will be conducted at the enterprise level.
10.7
In its regular broadcasts, Bangladesh Television and Radio Bangladesh will stress the importance of productivity and announce the positive results, so that people around the country become more conscious and interested in it.
10.8
A Productivity Data Bank will be established in NPO so that workers, owners, the government, professionals, researchers, planning specialists and others concerned can access information for necessary guidance on productivity
10.9
The interrelationship between wage and productivity will be established as strategy to increase productivity in industrial enterprises and institutions.
10.10
10.10 The total quality management culture will be adopted as a policy to introduce the joint consultant, system between workers and owners in order to continuously increase productivity in the industrial sector.
10.11
The necessity for developing proper workers-management relations in the industrial sector will be upheld, and if necessary, some of the sections of the present labor law will be reformed in line with recommendations of the Labour Law Commission, as committed to the ILO, so that necessary steps can be taken to improve industrial relations.
10.12
Collective bargaining will be given priority in fixing wage. 10.13
The Tripartite Consultation Council (the government, owners and the trade union), National Productivity Council and other national-level organizations will help the government formulate policies on employment expansion, productivity enhancement, training, efficiency development, etc.
10.14
Employment of child Labour will be stopped in industrial enterprises Top
Chapter 11PARTICIPATION OF WOMEN ENTREPRENEURS IN INDUSTRIALIZATION AND THEIR ADVANCEMENT
11.1Over the last decade, there have been substantial progress in women's participation and successes in socioeconomic activities, especially in industrial activities, in Bangladesh as elsewhere in the world. So, women's participation in the country's industrialization must be ensured on a wider scale
11.2Special emphasis will be given to identify women entrepreneurs capable of running independent and self-sufficient industries and businesses all across the country.
11.3
Necessary steps will be taken to provide women entrepreneurs with pre-investment advice and assistance in drawing up and implementing projects.
11.4
Various incentives and financial support will be considered for women entrepreneurs to get established in small and cottage industries.
11.5
Technical, financial and training assistance will be provided for establishing. SMEs considering the social stance and status of women entrepreneurs. Modern technical training will be arranged for enhancing the efficiency of women entrepreneurs in cooperation with different institutions established under the Ministry of Industries, such as BSCIC, BIT AC, BIM, NPO, and SCITI.
11.6
Women entrepreneurs will be given preference in expanding and achieving growth in service industries.
11.7
Women entrepreneurs will be encouraged on a greater scale in setting up and running agro-based industries in the country. Similarly, women entrepreneurs will be given technical and financial assistance in establishing garment (knit and woven), electronic, ceramic, hosiery, frozen food, cold storage and high value added industries.
11.8
Women entrepreneurs will be provided with incentives and financial assistance in establishing cottage industries of decorative items, leather goods, embroidery, imitation items, block, boutique, handicrafts of bamboo and cane, toys and other gift items.
11.9
In order to create women entrepreneurs of high standard, opportunities will be generated for advanced training and necessary capital, and successful implementation of projects will be ensured to set up SMEs and cottage industries. With this end in view, a number of plots will be reserved for women entrepreneurs in industrial parks in all divisional towns of the country.
11.10
Necessary initiatives will be taken to help improve the standard of goods produced by women entrepreneurs, create new markets, publicize, promote and sell their products in local and foreign markets.
11.11
The participation of women entrepreneurs in policymaking in the field of industrial development will be ensured.
11.12
The establishment of a separate bank under public or private initiative will be considered so
that women entrepreneurs can have an easy access to industrial credit, equity capital, venture capital and working capital. Co-lateral free loans will be considered for women entrepreneurs after examining their competence.
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Chapter 12 Investment Criteria of Feasibility Study for Planned Industrialization
12.1Because of the scarcity of capital in the country, financing institutions investing in the industrial sector have to conduct pre-investment study properly. With this end in view, the investment criteria that are suitable should be examined and then applied. Special care should be taken in respect of big and medium scale industries because they require big amount of capital to be invested. While setting up large and medium scale industries, entrepreneurs and. financing institutions should consider improving the conventional investment tactics, exalting and review the different investment criteria, and then conduct the feasibility study on the basis of that criterion which is most suitable. If necessary, more than one criterion can be used to conduct feasibility study. Investment criteria have been explained in brief in Annex 4.
12.2
Creating re-investment opportunities in manufacturing goods in the industrial sector is an important factor. So, production activities in the industrial sector should be administered in such a way those re-investment opportunities are created.
12.3
The principles of productivity gain sharing are appropriately followed in many developed and developing countries in order to attain continuous growth in the production sector. The objective is to distribute profit between workers, owners and the government on an equal basis. This concept can also be pursued in running industrial enterprises in our country. To this end, a minimum productivity standard should be set in each industrial enterprise.
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Chapter 13 Export-Oriented and Export-Linkage Industries Foreign Investment
13.1 Export-oriented industrialization is one of the major objectives of the present Industrial Policy, Prioritizing export-oriented industries and providing all-out government assistance on respect of this will be ensured.
13.2 Those industries that export at least 80 percent of their produce or supply 80 percent raw
materials for exportable items or those business enterprises that export at least 80 percent of their services will be considered export-oriented industries (IT -related goods are also included).
13.3 The following incentives and facilities will be provided in order to attract investment in 100
percent export-oriented industries:
(a)The present duty-free import policy will continue for the import of capital machinery and for up to 10 percent of the value of the spares of that capital machinery. The rates of customs duty in the import sector have been reorganized into three tiers: 7.5%, 15% and 25%.
b) The duty drawback system has been further simplified, and with this in mind, a flat rate will be fixed for all exportable items. Exporters will get duty drawback facility at a flat rate from concerned commercial banks.
(c) The system of providing up to 90 percent credit against non-negotiable and fixed LlCs /sale agreements will continue.
(d) In order to ensure backward linkage, export-oriented readymade garment in dustries and other local raw material using export-oriented industries will be provided with various facilities at a prescribed rate. Similar facilities will also be provided to local deemed exporters in export-oriented industries.
e) Export-oriented industries will be given the facility of handling foreign exchange of certain amount which will be beyond the Bangladesh Bank's foreign exchange regime in order to facilitate the opening of their offices abroad, promoting their products and taking part in international trade fairs.
(f) The export income earned from cottage industries will be 100% income taxfree, and the SMEs and other industries will be given income tax rebate at the rate of 50% of their export income.
(g) The facility of importing raw materials necessary for the production of export goods but enlisted as banned/reserved items will continue.
(h) Value-added jute, jute-mixed goods and diversified jute goods produced with new technology will be treated as export -oriented or import -substitute industries.
(i) Consistent with present government policies, facilities will be given for tax-free import of raw materials (at a prescribed amount) necessary for the production of exportable goods.
(j) If local raw materials are provided to local industries or projects through foreign currency L/Cs, then those will be treated as indirect export and will be given facilities, which are applicable for export.
(k) The export credit assurance scheme will be further expanded and
Strengthened. 13.4
The export-oriented industries identified, as the government's thrust sectors will be given special facilities including 'venture capital' facilities.
13.5
The current facilities of duty and tax assessment and rebate on imported goods (before arrival) will continue. Clearing process and formalities will be further simplified so that the clearance process takes the least time to be completed.
13.6
In respect of export-oriented and export linkage industries, all sorts of facilities described in the export policy will be given, apart from the facilities mentioned above.
13.7
Utility services will be provided to 100 percent export-oriented industries at reduced/rebated rates.
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Chapter 14Foreign Investment
14.1Foreign direct investment will be encouraged in all industries in Bangladesh except those in the reserved lists, banking, insurance and other financial institutions. This type of investments can be made in local public and private sectors individually or jointly. The capital market will be open for "portfolio" investments.
14.2 The legal framework for foreign investments has been drawn up on the basis of the Foreign
Investment (Development and Preservation) Act 1980. The framework is as follows:
• Equal treatment of both local and foreign investment ;• Safeguarding foreign investments from state expropriation ; and• Assurance of repatriating finance and profit deriving from share disposal.
14.3
There will be no restrictions to foreign investment in terms of equity participation, i.e., 100% foreign equity can be invested. While setting up industries with complete foreign investment or in joint venture, there will be no restrictions to the sale of shares through public issue irrespective of paid-up capital. However, foreign investors or institutions can purchase shares through Stock exchange, and necessary guidelines on this will be drawn up. Foreign investors or institutions can avail loan from local banks to meet their running costs. Conditions for such type of loan will be determined on the basis of the relations between the bank and the borrower.
14.4Foreign investors can avail of the same facilities as local investors in terms of tax holiday, royalty payment, technical fees, etc. Personal income taxes need not be paid by foreign technicians appointed in foreign companies for up to three years, and after that period, they have to pay on the basis of a dual taxation revocation agreement or any other agreement
reached with their respective countries 14.5
In respect of foreign investment, full repatriation facility of invested capital will be given. Profits and dividends are also repatriable. If foreign investors choose to reinvest their repatriable dividend or earned profit, then this will be treated as new investment. Foreign citizens appointed in Bangladesh will be entitled to a remittance of 50% of their wage and full repatriation of their savings and retirement benefits.
14.6
There will be no restrictions to the issuing of work permit for efficient foreign professionals on the basis of the recommendations of local and foreign investing companies or joint venture companies. Multiple entry visa will be issued to foreign investors for three years and to efficient professionals for the whole period of their appointment.
14.7
In respect of foreign investments in thrust sectors, preference will be given to small and medium scale investors when allotting plots in BSCIC industrial enclaves.
14.8
Investments by non-resident Bangladeshis will be treated as foreign direct investment. 14.9
Steps will be taken to protect intellectual property in respect of new goods and formulae. 14.10
International norms and systems will be followed in respect of providing investment assurance and conflict resolution.
14.11 Initiatives will be taken to expand the facilities of EPZ areas to those 100% export-oriented
industries that are established in non-EPZ areas.
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Chapter 15 Board of Investment
15.1In accordance with the Board of Investment Act 1989, the Board of Investment will provide necessary assistance and facilities to boost private investment in Bangladesh. The Board, formed under the leadership of the Prime Minister, with Ministers and Secretaries representing relevant ministries, will take necessary decisions in order to help establish new industries and provide assistance to already established industries.
15.2
The Board of Investment will provide one-stop service in the following fields so that investors get infrastructure facilities quickly when setting up industries:
(a) Electric and gas connections;
(b) Water and sewerage connections;
(c) Telecommunications facilities;
(d) Customs clearance of imported machineries, spare parts and raw materials; (e) Clearance from environmental agencies; and
(f) Other necessary facilities and services for speedy setting up and running of industries 15.3
With this end in view, all relevant public agencies will be involved with the one stop service of the Board of Investment.
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Chapter 16Export Processing Zones
16.1Export Processing Zones have been set up in the country under the Bangladesh Export Processing Zones Act 1980 in order to help establish export-oriented industries. All infrastructure facilities including telecommunication and utilities have been provided in the zones. Under the Bangladesh Private Export Processing Zones Act 1996, permission has also been given to bring in foreign investments or joint ventures or for setting up private export processing zones.
16.2 Keeping in mind that agro-based industries can play an important role in the socio-economic
sector of the country, cash incentives may be provided by the government to entrepreneurs of agro-based industries in EPZs, especially in the Mongla, Ishwardi and Uttara (Nilphamari) EPZs.
16.3
10 percent of the goods produced in EPZ industrial units can be exported inside the country subject to payment of applicable duties and taxes (through foreign currency L/Cs).
16.4100 percent export-oriented industries outside the EPZs can sell 20 percent of their products in the local market subject to payment of applicable duties and taxes.
16.5The following investments are allowed in the Export processing Zones:
Category (a): 100 percent foreign investment including those of non. resident Bangladeshis: Under this category, foreign investors should bear all costs including construction, purchase of raw materials and the total working capital only with their own sources of foreign exchange.
Category (b): Joint ventures of foreign and local investors: Under this type of investment, project expenses should be borne in accordance with the partnership agreement but the costs of importing all sorts of machinery should be borne by foreign partners.
Category (c): 100 percent investment of Bangladeshi investors living in Bangladesh: Under this category, all project expenses including the import of machinery should be borne from the investor's own resources, supplier's credit, non-expatriable foreign exchange, pay-as-you-earn scheme or any other acceptable system.
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Chapter 17Industrial Technology
17.1One of the foremost objectives of the Industrial Policy 2005 is to help attain competitive efficiency by developing technology, reduce consumers' costs by using cost-effective technology, and assist in the development of an environmentally friendly industrial production system. Converted efforts will be made in order for entrepreneurs to boost their profit with the help of improved management and production technology.
17.2 Assistance will be provided in the use of new technology in order to substitute for imports or
expand exports in prioritized sectors.
17.3
Licensing process wilt be simplified in respect of imported, adapted or domestic technology.
17.4
A subsidiary corporate culture will be established in order to create a team of workers consistent with planned human resources development and changing technology.
17.5Approved research and development expenses will receive tax holiday. Fruitful contacts will be arranged between various research institutions and related industrial enterprises so that research results can be utilized for the benefit of all concerned.
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Chapter 18Technical and Institutional Assistance
18.1Assistance will be taken from a number of specialized public and private institutions to generate and sustain competition in the industrial sector. These institutions will be strengthened gradually so that they can play an effective role in the country's industrialization.
18.2Development of sub-contracting: The policy of linkage between heavy, medium, small and cottage industries will be pursued in such a way that small and cottage industries can work as "sub-contractors" of comparatively bigger industries. Incentives will be given so that big industries manufacture and assemble basic goods and small industries produce accessories.
18.3
Efficiency enhancement: Attempts will be made to develop the efficiency of workers, technicians and employees in the public and private sectors. A public institution named National Productivity Organization is working to this end; Apart from this, universities and training organizations/institutions will be used for this purpose. In-service training courses will also be arranged for workers to enhance their efficiency.
18.4Quality control: Manufactured goods must have an acceptable quality in order for them to sustain demand in domestic and foreign markets. So, all manufacturers of industrial goods must strictly follow a quality control system. The Bangladesh Standards and Testing Institution (BSTI) and some other quality control institutions are carrying out their task in this regard. BSTI, corporate organizations and other quality control institutions will jointly develop a system to provide International Standard Organization-ISO certificates (specially the ISO 9000) for Bangladeshi goods and services. Initiatives will also be taken to establish an accreditation body.
18.5 Advising on investment matters and management training: Approving authorities such as the Board of Investment, BEPZA and BSCIC provide domestic and foreign investors in the private sector with pre-investment and post-investment guidance and services. To this end, the advisory and training facilities of the Small and Cottage Industries Training Institute (SCITI) and the Bangladesh Management Institute (BIM) will be further developed and expanded.
18.6
Environmental pollution control: The Environmental Protection Act 1995 and other relevant legislation are gradually implemented to control environmental pollution. Those industries that pollute the environment and endanger public health must ensure safety measures in respect of environmental pollution control. Industrial enterprises will be encouraged to obtain ISO-14000 certificates.
18.7
Capital market development: The Securities and Exchange Commission will draw up and carry out relevant legislation in order to mobilize market-oriented capital.
18.8
Recognition of industrial development: A new category will be added to the Independence Day A ward to recognize the special contribution of entrepreneurs to the industrial sector. Successful entrepreneurs of the industrial sector will be treated as CIPs (Commercially Important Persons) at an increasing number. In order to provide incentives to non-resident Bangladeshi investors, 5 to 10 important non-resident Bangladeshis will be selected every year.
18.9
nd the diverse use of jute. The Jute Diversification Promotion Center (JDPC) under the Ministry of Jute will provide interested investors with all sorts of information assistance
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Chapter 19 Implementation, Monitoring and Review
19.1All public agencies will follow the Industrial Policy 2005. This policy will be implemented properlyAn all-out effort will be made to encourage the production of diversified jute goods a and monitored regularly, and necessary changes will be brought about consistent with the needs of economic development.
19.2
The Industrial Policy has upheld the present environment of industrial development by following existing laws and other policies. In line with the Industrial Policy, concerned public agencies will review their rules and regulations, and amend them, if necessary. Apart from this, powerful new committees will be formed to implement this policy.
19.3
The special activities that will be undertaken to implement the Industrial Policy are as follows:
a) In order to remain consistent with the objectives and strategy of the Industrial Policy 200.5, necessary amendments will be 1)rought about to the Board of Investment Act 1989, Foreign Investment (Development and Preservation) Act 1980 and other relevant legislation. If this policy contravenes any prevalent rules/legislation, the present rules/legislation will remain valid until an amendment is brought about.
(b) A new set of policy entitled "Productivity Policy" will be formulated under the Industrial Policy 2005.
(c) Necessary action will be taken to update the relevant legislation and principles so that the standards of industrial goods are monitored and improved and consumer interests are safeguarded.
(d) If there are ambiguities or difficulties in respect of application of rules, regulations, ordinances and laws for industrialization, the Ministry of Industries will take steps to alleviate them in cooperation with various trade bodies and the Law Commission.
19.4The Productivity Development Program should be declared and accepted as a national movement.
19.5
From now on, the month of January will be observed as a 'productivity month' every year. 19.6
In order to properly monitor and administer the Industrial Policy 2005, an Information Management Service (MIS) will be set up in the Ministry of Industries.
19.7
The National Council for Industrial Development (NCID) undertakes various development programs aiming at establishing countrywide small, medium and heavy industries at a massive scale. The Prime Minister of the People's Republic of Bangladesh is its Chairperson and the Minister for Industries is its Vice Chairman. The Council will also comprise the following:
(1) The Ministers for Finance, Commerce, Power and Energy, Agriculture, Textiles and Jute,
Environment and Forest, Post and Telecommunication, Science and ICT, Labor and Employment, Civil Aviation and Tourism, Expatriate Welfare and Foreign Employment, Women and Children, and Fisheries and Livestock, and the Deputy Minister for Industries
(2) Chairman, the Privatization Commission.
(3) A Member of Parliament from each of the administrative divisions
(4) Governor, the Bangladesh Bank
(5) Secretaries of the relevant Ministries/Divisions (Finance, Industries, Commerce, Planning, ERD, Power and Energy, Textiles and Jute, Post and Telecommunication, Science and ICT, Labor and Employment)
(6) Members of the Industries and Energy Divisions of the Planning Commission
(7) Executive Chairman, the Board of Investment
(8) Chairman, the Tariff Commission
(9) Chairman, the Bangladesh Small and cottage Industries Corporation (10) Executive Chairman, the Bangladesh Export Processing Zone Authority
(11) Presidents of the FBCCI, DCCI, MCCI, BCI, FICCI, CCCI, NASCIB, BGMEA,BTMA, and BJMA
12) President, the Bangladesh Employers' Federation
(13) Chairperson, the Women Entrepreneurs' Association
(14) Government nominated five distinguished industrialists The Council will meet once every six months, and the Ministry f Industries will provide the
Council with secretarial assistance. 19.8
An Overall Guidelines Committee has been proposed in the Industrial Policy 2005 under the supervision of the Ministry of Industries. The objective is to provide entrepreneurs with information-based advice and overall assistance in the interest of planned and proper industrialization in the country and also to provide necessary recommendations and assistance to public and private industries by coordinating with relevant Ministries and agencies so that their problems are minimized. The committee will comprise as follows:
(1) Minister, Ministry of Industries Convener
(2) Chairman, Privatization Commission Member
(3) Principal Secretary, Prime Minister's Office Member
(4) Governor, Bangladesh Bank Member
(5) Secretary, Planning Commission Member
(6) Secretary, Finance Division, Ministry of Finance Member
(7) Secretary, Ministry of Industries Member
(8) Secretary, Ministry of Commerce Member
(9) Secretary, Internal Resources Division and Chairman, NBR Member
(10) Secretary, Ministry of Agriculture Member
(11) Secretary, Ministry of Fisheries and Livestock Member
(12) Secretary, Ministry of Science and ICT Member
(13) Secretary, Ministry of Textiles and Jute Member
(14) Executive Chairman, Board of Investment Member
(15) Executive Chairman, BEPZA Member
(16) President, FBCCI Member
(17) President, NASCIB Member
(18) Chairperson, Women Entrepreneurs' Association, Member
(19) Additional Secretary, Ministry of Industries Member-Secretary The Committee will get together at least once every three monthsThe following sub-committee will submit to the Committee a report with specific recommendations on the profitability and probable risks of industrial enterprises to be set up and the scope and facilities of items produced in the local export market so that suitable programs can be undertaken to set up industrial enterprises:
(1) Secretary, Ministry of Industries Convener
(2) Secretary, Ministry of Commerce Member
(3) Chairman, National Board of Revenue Member
(4) Member (Industry), Planning Commission Member
(5) Secretary, Ministry of Textiles and Jute Member
(6) Executive Chairman, Board of Investment Member
(7) A Deputy Governor level representative from Bangladesh Bank Member
(8) A Member level representative from Privatization Commission Member
(9) Chairman, BSCIC Member
(10) President, FBCCI Member
(11) President, Bangladesh Chamber of Industry Member
(12) President, BGMEA Member
(13) President, BJMA Member
(14) President, BTMA Member
(15) President, NASCIB Member
(16) Chairperson, Women Entrepreneurs' Association Member
(17) Joint Secretary (Autonomous Bodies), Ministry of Industries Member-Secretary If necessary, new members can be co-opted in the committee.
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Chapter 20 Annexes
Annex-1 :: Thrust Sectors
1. Agro-based and agro-processing industry
2. Textiles industry
3. Jute goods and jute-mixed goods
4. Readymade garment industry
5. Computer software and lCT goods
6. Electronics
7, Light engineering including automobiles
8. Pharmaceutical goods
9. Leather and leather products
10. Ceramics
11. High fashion value added RMG
12. Artificial flower production
13. Frozen food
14. Integrated shrimp cultivation
15. Flower cultivation
16. Infrastructure
17. Jewellery and diamond cutting and polishing 18. Oil and gas
19. Silkworm and silk industry
20. Stuffed toys
21. Tourism industry
22. Basic chemicals/raw materials used in industries
23. Dye and chemicals used in textiles industry
24. Optical frame
25. Furniture
26. Luggage fashion-based goods
27. Cosmetics and toiletries
28. CR coil
29. Handicrafts
30. Stationery goods
Annex-2
In recent times, the boundaries of the industrial manufacturing sector have been stretched to cover the transport (?) sector nationally important activities that include many service sectors. For instance, agro-based and agro-processing industry; fishing, fish processing and marketing; horticulture, flower cultivation and marketing; food crops and oil seeds processing; and post-harvest processing of jute have been brought within the industrial sector. Similarly, tourism industry, hotel management, telecommunication, computer software and programming under ICT, e-commerce, digital network and alliance are all considered service industries in the context of today's competitive world, Likewise, transport and communication, construction, housing, furniture, forest industry, and cinema and DVD for entertainment are also considered industries. Meanwhile, in the industrially developed world, the printing presses, ginning and baling, construction business, photography, laboratory, warehouse, cold storage and container services are currently being considered service industries. Given this background, the list of service industries has been drawn up as follows in the present Industrial Policy of Bangladesh. Service industries: 1. Hospitals and clinics
2. IT-based activities
3. Agro-based activities such as fishing, fish preservation and marketing
4. Telecommunication
5. Transport and communication
6. Forestry and furniture
7. Construction industry and housing
8. Construction business
9. Entertainment
10. Photography
11. Hotel and tourism
12. Warehouse and container service
13. Printing and packaging
14. Ginning and baling
15. Laboratory
16. Cold storage .
1. Agro-based and agro-processing industry
2. Textiles industry
3. Jute goods and jute-mixed goods
4. Readymade garment industry
5. Computer software and lCT goods
6. Electronics
7, Light engineering including automobiles
8. Pharmaceutical goods
9. Leather and leather products
10. Ceramics
11. High fashion value added RMG
12. Artificial flower production
13. Frozen food
14. Integrated shrimp cultivation
15. Flower cultivation
16. Infrastructure
17. Jewellery and diamond cutting and polishing 18. Oil and gas
19. Silkworm and silk industry
20. Stuffed toys
21. Tourism industry
22. Basic chemicals/raw materials used in industries
23. Dye and chemicals used in textiles industry
24. Optical frame
25. Furniture
26. Luggage fashion-based goods
27. Cosmetics and toiletries
28. CR coil
29. Handicrafts
30. Stationery goods
17. Horticulture, flower cultivation and flower marketing
18. Food crop and oilseed processing
19. Knowledge society with high quality merit and efficiency Top
Annex-3 :: Reserved Industries
1. Arms and ammunitions and other military equipments and machineries
2. Nuclear power
3. Security printing and minting
4. Afforestation and Mechanized Extraction within the boundary of reserved forest
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Annex-4 :: Investment indicators
(1) Average rate of return method: The average production rate system is an important indicator in project investment. In this system, production activities can be undertaken after review and evaluation of average project production and average project costs. Entrepreneurs can properly follow this indicator while investing their capitals.
(2) Payback method of investment: This method means an opportunity for obtaining payback through an efficient use of the primarily invested money for a certain period of time. By using this method, investors can ensure the return of their primarily invested money on a short-term basis. Entrepreneurs can pursue this indicator while investing their money in the country. (3) Discount payback method: This method means a return or profit by deducting the present value of invested amount from that of the value of the amount to be obtained in the future. By using this method investors can have an opportunity to use their money in an efficient and profitable way. Entrepreneurs should consider this investment indicator with importance while investing their capital in setting up industrial enterprises. (4) Internal rate of return method: The cost-benefit ratio is an important tactic in the fruitful and effective evaluation and review of the establishment of industrial : enterprises and their efficient running and in determining how much the investment flow is going favourable. The internal rate of return method is an investment method which helps to obtain a forecast of the degree to which the invested amount is being used in an efficient and profitable way by examining the cost-benefit ratio. However, the even and uneven cash flow must be taken into account under the internal rate of return method. This method is considered the most acceptable method of all investment indicators, (5) Present value method: Each entrepreneur should carefully consider the profitability index of his invested money while considering or implementing the present value method because the higher the profitability index, the greater the returnTop
Annex-5 :: Acronyms
BCCIBangladesh Chamber of Commerce and Industry
BCSIR Bangladesh Council of Scientific and Industrial Research BEPZA
Bangladesh Export Processing Zones Authority
BGMEA
Bangladesh Garments Manufacturers and Exporters Association
BJMA
Bangladesh Jute Mills Association
BIT AC Bangladesh Industrial and Technical Assistance Centre BIM
Bangladesh Institute of Management BMDC
Bangladesh Mana,gement Development Centre BMRE
Balancing, Modernization, Rehabilitation and Expansion BOI
Board of Investment BOO
Build, Own and Operate BOT
Build, Operate and Transfer
BSCIC Bangladesh Small and Cottage Industries Corporation BSTI
Bangladesh Standards and Testing Institution BTMA
Bangladesh Textile Mills Association
BUETBangladesh University of Engineering and Technology
ccer
Chittagong Chamber of Commerce and Industries CIP
Commercially Important Person DCCI
Dhaka Chamber of Commerce and Industry DFI
Development Financing Institution
EC-NCID Executive Committee of the National Council of Industrial Development EOSP
Employee Owned Stock Program EPZ
Export Processing Zone FBCCI
Federation of Bangladesh Chambers of Commerce and Industry FICCI
Foreign Investors' Chamber of Commerce and Industry FDI
Foreign Direct Investment GAIN
Global Alliance of Improved Nutrition ILO
International Labor Organization IP
Industrial Policy IPO
Initial Public Offering ISO
International Standard Organization L/C
Letter of Credit
MCCIMetropolitan Chamber of Commerce and Industry
MIS
Management Information Service MOST
Micro Nutrient Statistics and Technology
NASCIB National Association of Small and Cottage Industries, Bangladesh NBR
National Board of Revenue NCID
National Council of Industrial Development NFCD
Non-Resident Foreign Currency Deposit NPO
National Productivity Organization NRB
Non-Resident Bangladeshi PAYE
Pay As You Earn PSI
Pre-Shipment Inspection
R&D Research and Development RMG
Readymade Garments SCI
Small and Cottage Industries SEC
Securities and Exchange Commission SME
Small and Medium Enterprises SOE
State-Owned Enterprises
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BANGLADESH EPZ
Introduction In order to stimulate rapid economic growth of the country, particularly through industrialization, the government has adopted an 'Open Door Policy' to attract foreign investment to Bangladesh. The Bangladesh Export Processing Zones Authority (BEPZA) is the official organ of the government to promote, attract and facilitate foreign investment in the Export Processing Zones.
The primary objective of an EPZ is to provide special areas where potential investors would find a congenial investment climate, free from cumbersome procedures. Two EPZs, one in Chittagong and the other near Dhaka are now operational.
Following information is provided to the potential investors for investment is EPZs of Bangladesh.
Eligible investors 100% foreign owned including Bangladesh nationals ordinarily resident abroad (Type-A).Joint venture between foreign and Bangladesh entrepreneurs resident in Bangladesh(Type-B) 100% Bangladesh entrepreneurs resident in Bangladesh (Type-C).
Mode of Investment Investment in convertible foreign currencies by foreign investors. Option to establish public/private Ltd companies or sole proprietorship/partnership concerns.
Investment Guarantee Foreign Private Investment (Promotion and Projection) Act 1980 secures all foreign investment in Bangladesh. OPIC"s (Overseas Private Investment Corporation, USA) insurance and finance programs operable. Security and safeguards available under Multi-national Investment Guarantee Agency (MIGA) of which Bangladesh is a member. Arbitration facility of the International Center for the Settlement of Investment Dispute (ICSID) available.
Tele-communications Telex, Fax and International Dialing Services connected through satellite system available.
Communications Adequate sea, rail, road and air communications services available. ONE WINDOW SAME DAY SERVICE AND SIMPLIFIED PROCEDURE
BEPZA
sanctions projects generally within one week. issues required Import/Export Permits. issues required Work Permits for foreign nationals working in EPZ enterprises. provides required infrastructure facilities in EPZs. offers 'One Window Same Day Service' to investors in EPZs.
PRODUCTION ORIENTED LABOR LAWS Law forbids formation of any labor union in EPZs. BEPZA is vested with responsibility to administer labor matters for all enterprises in EPZs.
Minimum Wages (Monthly)
Apprentices/Trainee US $22,00 Unskilled US $38.00 Semi-skilled US $45.00 Skilled US $63.00
Other benefits include Conveyance Allowance, House Rent, Medical Allowance and
Festival Bonus. Working Hours 48 hours a week in a factory. 40 hours a week in an office. 5 working days a week.
Employees leave 10 days Casual leave 17 days Annual leave
FACILITIES AND INCENTIVES
FACILITIES a. Land and factory building are available on rental basis.
b. Electricity, water, gas and telecommunications are provided by the zones.
c. Import and export permits are issued by EPZ within 24 hours.
d. Work permits are issued by BEPZA.
e. EPZ is a secured and protected area.
f. Recreational facilities are available.
g Availability of food stuff and beverage on payment of nominal tax foreigners working in EPZs.
h. Potential investors are required to deal only with BEPZA for investment and all other operational purposes..
INCENTIVES Fiscal Tax Exemption
a. Tax holiday for 10 years
b. Exemption of income tax on interest on borrowed capital.
c. Relief from double taxation subject to bilateral agreement.
d. Complete exemption from dividend tax for tax holiday period for foreign nationals.
e. Exemption of income tax on salaries of foreign technicians for 3 years subject to certain conditions.
Duty Free Import and Export
a. Duty free import of machinery's, equipment and raw materials.
b. Duty free import of three motor vehicles for use of the enterprises in EPZs under certain conditions.
c. Duty free import of materials for construction of factory buildings in the zones.
d. Duty free export of goods produced in the zones.
Non-Fiscal I. Investment
a. All foreign investment secured by law.
b. No ceiling on extent of foreign investment.
c. Full repatriation of profit and capital permissible.
d. Repatriation of investment including capital gains, if any, permissible.
e. Remittances allowed in following cases:
f. All post tax profit and dividend on foreign Capital.
Savings from earnings, retirement benefits, personal assets of individual on retirement/termination of services.
Approved royalties and technical fees. No permission required for expansion of the project or product diversification.
II. Project financing and banking
a. Off-shore banking facilities available.
b. Local and international banking facilities also wide-open.
III. Import
a. Freedom from national import policy restrictions.
b. Import of raw materials also allowed on Documentary Acceptance (DA) basis.
c. Advantage of opening back to back LC for certain types of industries for import or raw materials.
d. Import of goods from the domestic tariff area permissible.
IV. Project Implementation
a. Re-location of existing industries from one zone to another within the country permissible.
V. Operation
a. Sub-contracting within EPZ allowed.
b. Inter-zone and intra-zone export permitted
c. All customs formalities done at the gate site of the respective factory building within the zone.
d. Permission for import/export given in the same day.
e. Repairing and maintenance's of machinery's and capital equipment from domestic tariff area allowed.
VI. Employment
a. Liberal employment of foreign technicians/experts allowed.
b. Foreigners employed in the zones enjoy equal rights similar to those of Bangladesh nationals.
c. Law forbids formation of any labor union in the zones. Strike within the zones prohibited.
VII. Support Services Customs office, Post Office, Medical center, Fire station, Police station.
DHAKA EXPORT PROCESSING ZONE
Location : Savar 35 kms from Dhaka city center25 kms from Zia International Airport, DhakaZone Area : 58 hectares (142 acres)
Land Total number of plots : 100 Size of each plot : 2000 M2 Tariff : US $ 1.50/M2/year
Standard Factory Building Space : 72,000 M2 in 16 blocks Tariff : US $ 2.00/M2/month
Warehouse Space : 2,300 M2 Tariff : US $ 2.00/M2/month
Utility Services Water supply : CEPZ gets water from Chittagong WASA Storage Capacity : 45,20,000 litters/day Tariff : Tk. 13.56 per M3 Power Supply : 11 kV, 3 phase, 50 cycles Tariff : Tk. 2.86 per kWh (Industrial use) Gas supply : 1,36,000 M3/day or 5,667 M3/hour Tariff : Tk 3.64 per M3 (Industrial use)
CHITTAGONG EXPORT PROCESSING ZONE Location : 2.40 kms from Chittagong Sea Port 5.63 kms from the main business center of Chittagong 7.24 kms from the Chittagong International Airport Zone Area : 255 hectares (630 acres)
Land Total number of plots (planned): 430 Size of each port : 2044 M2 Tariff : US $ 1.50/M2/year
Standard Factory Building Space : 39,000 M2 in 16 blocks Tariff : US $ 2.00/M2/month
Utility Services Water supply : DEPZ gets water from its own water supply system Tariff : Tk. 13.56 per M3 Power Supply : 11 kV, 3 phase, 50 cycles Tariff : Tk. 2.70 per kWh (Industrial use) Gas supply : DEPZ gets gas from the Titas Gas Field Tariff : Tk 3.64 per M3 (Industrial use)
Please visit EPZ Web Site - www.epzbangladesh.org.bd
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COMPLIANCE MONITORING CELL (CMC)
Introduction:
In the post-quota globalized world, issues relating to social compliance have become increasingly important in the export-oriented RMG Sector in Bangladesh.
In a developing country like Bangladesh, RMG sector plays an important role in the overall economic development of our country. At present approximately 20 lakh workers (among which 80% is female)
are working in this sector which is a great source of employment. It is also mentionable that about 76% of our foreign exchange is also earned by this sector. But after elimination of quota under MFA, Bangladesh does not have the protected market any more. With the collapse of Savar Spectrum Garment factory the issues of Social Compliance has become a burning issue in RMG sector and lots of pressure have been imposed on the industry proprietors as well as on the government regarding the safety of workers and their over all welfare. The safety of the workers has become a national issue. The government has also emphasized on the issue of safety & welfare of workers. As a result, on 11 June 2005, a meeting was held under chairmanship of the Commerce Minister and after massive discussion, a Social Compliance Forum (SCF) was constituted headed by Honorable Commerce Minister. The composition of Social Compliance Forum is as follows :
Honble Commerce Minister Chairman
Honble State Minister for LaborCo-chairman
Executive Chairman, Board Of Investment (BOI) Member
Secretaries of Commerce, Home, Labour, Textile, Industries, Works and Women & Child Affairs
Member
Executive Chairman, Bangladesh Export Processing Zone Area (BEPZA)Member
Vice Chairman, Export Promotion Bureau (EPB)Member
Director General-3, Prime Minister's Office (PMO) Member
Director General, Fire Service & Civil DefenseMember
Director, Labor Member
President, Bangladesh Garment Manufacturers & Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA), Bangladesh Terry Towel Lylen Manufacturers & Exporters Association (BTTLMEA)
Member
President, Bangladesh Independent Garments Workers Union Federation (BIGUF)
Member
Representatives from Workers (3)Member
Representative, Business Social Compliance InitiativeMember
Representatives from Nari Uddag Kendra (NUK), Karmajibi NariMember
Representative UNDP, GTZ, ILO, LCGMember
Joint Secretary (Export), Ministry Of Commerce (MOC)Member-Secretary
In order to meet various requirements on Social Compliance including occupational safety and security, labour welfare and improvement of working conditions in the export oriented Ready-made Garments (RMG) industry of Bangladesh, Government has constituted the following two Taskforces and one Compliance Monitoring Cell :Taskforce on Labour Welfare in RMG headed by Joint Secretary, Ministry of Labour and Employment. Composition of the committee is as follows :
Joint Secretary, Ministry Of Labor and Employment (MOLE)Chairman
Joint Secretary, (Export), Ministry Of Commerce (MOC)Member
Deputy Secretary, Ministry of Women & Children Affairs (MW&CA)Member
Director, Textile, Export Promotion Bureau, (EPB)Member
Chief Inspector, Factories & EstablishmentsMember
Director, Bangladesh Garment Manufacturers & Exporters Association (BGMEA)
Member
Consultant, Bangladesh Garment Manufacturers & Exporters Association (BGMEA)
Member
Director, Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA)
Member
President, Bangladesh Independent Garments Workers Union Federation (BIGUF)
Member
Representative(s), Workers' UnionMember
Director, Directorate of Labor Member-Secretary
Taskforce may co-opt any number of members.
Taskforce on Occupational Safety in RMG headed by Joint Secretary, Ministry of Housing and Public Works. Composition of the committee is as follows :
Joint Secretary, Ministry Of Works (MOW) Chairman
Joint Secretary, (Export), Ministry Of Commerce (MOC)Member
Deputy Secretary, Ministry Of Works (MOW)Member
Deputy Secretary, Ministry Of Industry (MOI)Member
Director, Textile, Export Promotion Bureau (EPB)Member
Representative from Ministry Of Environment & Forest (MOE&F)Member
Chief Inspector, Factories & EstablishmentsMember
Director, Bangladesh Garment Manufacturers & Exporters Association BGMEA (2)
Member
Director, Bangladesh Knitwear Manufacturers & Exporters Association BKMEA (2)
Member
President, Bangladesh Independent Garments Workers Union Federation (BIGUF)
Member
Representative(s), Workers' UnionMember
Director, Operations, fire Service & Civil DefenseMember-Secretary
Taskforce may co-opt any number of members.
Compliance Monitoring Cell
In order to monitor the activities relating to Social Compliance including safety & security, labour welfare and improvement of working condition in the export-oriented Ready-made Garments (RMG) Industries of Bangladesh, a Compliance Monitoring Cell was formed in the office of the Export Promotion Bureau (EPB), 1 Kawran Bazar, TCB Bhaban, Dhaka. Director General (Textile), Export Promotion Bureau is acting as the chief of the Compliance Monitoring Cell. The TOR of the cell are :
1. Provide secretarial support services to the 'Social Compliance Forum for RMG' and issue specific taskforces on compliance issues;
2. Review the reports received from the Taskforces and report to the 'Social Compliance Forum for RMG';
3. Keep regular contacts with the international buyer groups on compliance issues; 4. Raise awareness on social compliance among those involved in RMG production and export
process; 5. Recommend EPB and Ministry of Commerce on activities undertaken on compliance for
building images abroad; 6. Seek, consult and gather information from related ministries/ departments/ stakeholders
including international buyers on compliance and safety related issues/aspects; 7. Create database on RMG industry (ownership, location, items produced, production capacity,
number of employee, etc,); and
8. Other activities as suggested by the 'Social Compliance Forum for RMG'.
1. Taskforce on Occupational Safety in RMG
Taskforce on occupational Safety in RMG has prepared short term, medium term & long term work plan as per Terms of Reference,(TOR) classifying in four security aspect as mentioned below: (Detail in ANNEX-A) - Fire Safety- Building safety- Environment safety
- Security matter safety
The respective organizations of the government i.e. Fire Service & Civil Defense, RAJUK, Ministry of Environment & Forest and Department of Chief Inspector for Factories and Establishment have started their work on the Action plan (short term) for implementation of the above compliance issues. 2. Taskforce on Labour Welfare in RMG
Taskforce on labour welfare in RMG has also prepared short term, medium term & long-term work plan as per Terms of Reference (TOR) on the following social compliances: (Detail In ANNEX-B) - Elimination of all sort of discrimination ;- Abolition of forced labour ;- Removal of all sort of harassment and abuses ;- Free from child labour ;- Provide the worker with an appointment letter ;- Reasonable working hour ;- Health and hygiene; and- Right for freedom of association and collective bargaining.
Taskforce on labour welfare in RMG has started their work on the Action plan (short term) for implementation of the above compliance issues.
Compliance Monitoring cell has prepared a work plan in short term, medium term and long term basis as per Terms of Reference (TOR) and started work on the action plan. (Detail in ANNEX-C) Action Taken by the Compliance Monitoring Cell (CMC)
The following actions have been taken on the work plan by the CMC:
A database for 600 (Six hundreds) RMG units has been prepared. This database includes addresses of the factories, ownership, items produced, production capacity, number of employees etc. Preparation of database for others RMG unit is going on.
The addresses of 52 local buying houses working in Dhaka and addresses of 110 Foreign buyers have been collected to keep regular contact with them. Moreover, BGMEA, BKMEA have been requested to supply this office with the names address, phone number, fax, e-mail addresses of the international buying groups working in Bangladesh.
CMC of EPB has taken an awareness program and under this program 400 RMG units have been intimated regarding social compliance and requested to comply with compliance issues. CMC has also initiated for organizing seminar/workshop for campaigning awareness of compliance issues.
CMC of EPB also took some other measures for fulfilling Social Compliances. Under these measures EPB has instructed all RMG units to submit Group Insurance, Structural Design and Lay-out plan for factory buildings duly approved by Rajdhani Unnayan Kartipakkah (RAJUK) and other competent Authorities. However as per decision in the 3rd meeting of Social Compliance forum held on 24 April, 2006, the lay out plans and structural design of the factory to be submitted to EPB for obtaining new registration or renewal of registration has been relaxed and the validity of the provisional permission provided by EPB would be 1 (one) year in place of 3 (three) months.
Joint Taskforce under BGMEA has sent inspection reports to the CMC during the period from 1st April - 22nd June, 2006. BGMEA surveillance teams inspected 2435 garments factories in Dhaka and 575 factories in Chittagong to monitor fire safety measures. From 1st April 22nd June BGMEA has completed fire drill of 1865 units/factories, among which 40 factories found exits under locked and 21 factories found exit blocked by keeping goods. CMC on getting reports from BGMEA, sent it to the Social Compliance Forum in Ministry of
Commerce. As per decision of technical committee of Social Compliance Forum, CMC has conducted a
meeting with BGMEA, BKMEA, Fire Service, Labour Department, RAJUK and chief Inspector.
i. As per decision of the meeting CMC deputed 2 representative to the inspection team of BGMEA.
ii. It was decided that the definition of the 'Risk Building' will be determined by RAJUK.
Crash Programme On fire Safety Taken By BGMEA
BGMEA has started crash programme as Follow-up Report (2nd phase) from 1st July 2006. The BGMEA surveillance teams inspected 682 Garments Factories in Dhaka and 587 Garments Factories in Chittagong to monitor safety measures. From 1st July to 31st August 2006, BGMEA completed fire drill of 1108 units of the factories among which no factories found exit under lock but 05 factories only in Dhaka found exit blocked by keeping textile goods.
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EXPORT DIRECTORY 2005
sn Catagorys Downloads
01. Export Directory 2005 [Index] 01. Export Directory 2005 [Part-1]
AGAR PRODUCTS/AGARWOODAGRICULTURAL EQUIPMENTSALUMINIUM PRODUCTSANIMAL CASINGANIMAL GLUEARTIFICIAL FLOWERSAUDIO & VIDEO (CD, VCD,DVD, VCR, PAPER, MAGAZINE)
AUTOMOBILEPRODUCTSBAGS(Jute, Leather, Synthetic)BALL PENBAMBOO PRODUCTSBASKET WAREBATIK ITEMS BATTERY (Automotive) BATTERY DRYCELLS BEACH CHAIRBEES WAX BETEL LEAVES/ NUT BI-CYCLE BISCUITS BLADE BOOKS & PERIODICALS BRASS PRODUCTS BRICKS BRICKS TILES BROOM STICKS CABLES CANDLES CANE PRODUCTS CANNED FRUITS CANVAS CANVAS SHOES CARPET CARPET BACKING CLOTH CARTON CEMENT CERAMIC PRODUCTS CHEMICAL PRODUCTS COIR PRODUCTS COMPUTER PAPER CONDENSED MILK CONDOM COPPER WIRE COSMETICS & TOILETRIES COTTON BAGS CRUSHED BONE CUT FLOWER DATA ENTRY & SOFTWARE DEVELOPMENT DEHYDRATED & SALTED FISHDOOR SHUTTERDRY FISHDRY FOODS (Mori, Chanachur, Potato Chips, Chira)ELECTRICAL PRODUCTSEMBROIDERYESPADRILLESFAN (Electrical)FEATHERSFERTILIZERFISH MAWSFISH MEALSFISHING NET
FLUSH DOORFOOD PRODUCTSFOOTWEARFRESH FISHFRESH FRUITS & VEGETABLESFRUIT JUICESFURNITUREGIPIPEGELATINEGIFT ITEMSGLASS PRODUCTSGLOVESGREY FABRICSHAND BAGSHAND MADE PAPERHANDICRAFTSHANGERHERBAL MEDICINEHESSIAN CLOTHHOME TEXTILES/SPECIALISED TEXTILESHONEYHOOVES & HORNSHUMAN HAIRJAM & JELLYJAMDANI SHAREEJEWELLERYJUTE BACKING CLOTHJUTE BRAIDJUTE GOODSJUTE MATJUTE SHOESJUTE SHOPPING BAGJUTE YARN & TWINEKITCHEN WAREKNIT FABRICSKNITWEARLEATHER (CRUST & FINISHED)LEATHER GARMENTSLIGHT ENGINEERING PRODUCTSLUGGAGES, TOYS & FASHIONPRODUCTSMARINE FISHMATCHESMEDICAL EQUIPMENTMELAMINE PRODUCTSMEAT & MEAT PRODUCTSMOLASSESMOSQUITO NETMS PIPEMUSHROOMSMUSLINMUSTARD OILNAKSHI KANTHANAPKINSNAPTHA
NEWSPAPERNEWSPRINTORCHID/PLANTSPAPER BOARDPARTICLE BOARDPHARMACEUTICALSPINK PEARLPLASTIC PRODUCTSPLASTIC SHEETSPLYWOODPOLY BAGSPOTATOPOTATO FLAKESPOTTERYPOULTRYPRINTING MATERIALSPROCESSED FRUITS & VEGETABLESPRINTING MATERIALSPVC CABLESPVC PIPES/PVC PRODUCTSQUILTRAW COTTONRAW JUTE
Top 02. Export Directory 2005 [Part-2]
REFRACTORY BRICKS REFRIGERATORRICERUBBERSANITARY WARE SEED SEWING THREAD SHARK FINS SHARK MEATSHELL PRODUCTSSHOPPING BAGS SHRIMPSSILK FABRICS / SILK PRODUCTS SILK SHAREE SOFT DRINKS SOAP (TOILET) SPICES SPORTS SHOES STATIONARY PRODUCTS SUGAR TAPESTRY TARPAULINS TEA TELECOMMUNICATION CABLES & WIRES TELEVISION TENT TERRY TOWEL/TOWEL TEXTILE FABRICS TILES
TIMBERTISSUE PAPERTOBACCO TOOTH BRUSH TRANSFORMER TRAVEL BAGS TWILL TYRE & TUBEUMBRELLAUPS WATCH WOODEN PRODUCTS YARN ZIPPER
Top 03.
Export Directory 2005 [Part-3]READYMADE GARMENTSBAGS & LUGGAGESBLAZER AND COATS BLOUSES, LADIES SHIRTS & FASHION
Top 04. Export Directory 2005 [Part-4]
OUTER WEAR, OVERALL, COVERALL SOCKS, VEST, ROMPERS, STUFFED TOYS, QUILTS SPORTSWEAR, JOGGING SUITS, SWIM SUITS, PLAY SUITS SWEATER, PULLOVER, JUMPER, MUFFLER
Top 05. Export Directory 2005 [Part-5]
TROUSER, SHORT, PANT, JEANS
Top 06 Export Directory 2005 [Part-6]
UNDER WEAR, PANTIES, BRIEFSWOVEN SHIRTS
ABOUT TIC & SERVICES
Trade Information Centre (TIC)
International Business is mostly dependent on information flow in the present globalize world. Considering the success in export trade, Export Promotion Bureau has a modern and well equipped Trade Information Centre (TIC) in its Head Office Dhaka. TIC has been providing information and services to users since 1965 after its establishment. It is now working as a Centre of Excellence and Knowledge with modern facilities of information technology.
Exporters, Businessmen, journalists, researchers, teachers, students of various universities and journalists are the regular visitors/users/clients and visits TIC frequently for the upgraded service.. During the year 2008-2009, about 5250 users visited the Centre for collecting trade related information.
TIC Services: Computer services with online facilities. Wide range of magazines/periodicals/journals and books. Handout on “Trade Inquiry”. Instant answering system on trade queries. Provide Export related information. Product and country wise exporter & importer lists. Provide day-to-day service to the exporters. Export Directory Database. Scanned news clippings on Export trade. A wide range of CD/DVD collection.
TIC has two different types of services from which one visitor may have the access of basic information from its rich library or collect desired data/information from online services.
Library Services TIC maintains a Commercial Library in which it preserves a large number of publications like books/journals/reports/periodicals. A total of 4920 publications including 104 international and national local & foreign journals/periodicals are kept in the TIC. A total of 50 books were purchased by this Centre during this year. Among these, UNCTAD Hand book of Statistics2008,The Global Economic Crisis, UN,Trade and development report, Economic Survey of Bangladesh,Statistical Yearbook of Bangladesh 2007, Training Manual on WTO and BangladeshTrade Policy,Export policy 2006-09, Import Policy Order 2006-09 would be
valuable ones for the clients. Besides TIC purchased 324 publications including journals/periodicals/reports/research papers as and when required during the year. TIC also received 105 nos. local and foreign journals during the year as complementary copy.
· Library management Software: From the rich library, visitor may identify his desired book using the Library Management Software (LMS). The LMS also make the task easy to serve the clients demand to identify the books. Since the LMS is web-based, visitors may use it to find out desired book through EPB website (www.epb.gov.b/Trade Information Centre>Book Information Software).
Books: In TIC the various kinds of books are: Export Guide;Trade related Books; Harmonized Commodity Description and Coding System 2007; Fair Reports;Trade directory- Importer & Exporter; Annual Reports; Market Survey Yellow Pages, Reports/Research Papers on Commodities; Statistics- 1. EPB Export Statistics, 2. Import Payments, 3. Exports Receipts, 4. Foreign Trade Statistics; International Publications: ITC, CBI, WTO, World Bank, Others; Europa World Year Book; Encyclopedia; Harmonized System Explanatory Notes UN Publications etc.
o Journals: The Trade Information Centre has classified its Journals into three parts: Local Journal:Spinners News,P.C.World Bangladesh; Computer Jogot; Shipping News; CPD Quarterly; BASIS News & View etc; Association/Products journal: BGMEA news letter, Knit Barta, pharma world, Shrimp & fish news, Hortex news letter etc; International Journal: News week, Time, The Economist, Infofish International etc Seafood International ; Other Journal: ACAB news, Midas news, Commerce & Industry etc.
o Effective and systematic news clippings from national daily news papers: TIC scanned 19 (nineteen) national dailies (13 Bangla & 6 English) for collection and preservation of export, trade and trade related news. The paper clippings are categorized according date/month/year wise in the following ways:
o Products wise scanned news o International and regional organization news o Statistical data. o Market access news. o Trade policy related news o Important Notices related to Export.
Online Services: After the refurbishment of TIC during 2007, various types of online services are become available for the visitors.
Internet Corner: Internet Corner provides electronic access to national and international trade information to members and non-members. Exporters, Businessmen, Journalists, Researchers, Teachers and Students are the regular users of this Corner.
Online Collections: Market survey of commodities on EU countries. Various statistical data. Country profile and trade news of different countries. Product news on major exportable products. Computerized information system on market, product & export
procedures. Trade Statistics on exports and imports. Policy/Facility related news of national/international organizations Information on Preferential Trade Agreements
CD/DVD Collections: TIC opened a separate collection of information preserved on CD/DVD. Visitor may use the resources using the computers in Internet Corner and can copy the CD/DVD for next use.
Trade Information on EPB website: Visitors can also get information through visiting the Link Trade Information Centre on EPB website (www.epb.gov.bd/trade information centre). The information are categorized as: About TIC & Services, Internet Corner, Paper Clipping, Book Information Software, TIC Advertisement, Useful links, Feedback, Contact.
Export Directory Database (EDD): Export Directory Database on EPB website (www.epb.gov.bd/Bangladesh Export Directory) helps the importers and also at the end exporters to promote Bangladesh export earnings. The
Interested exporters can apply with the selected application download from the site or collect from TIC physically. With that information and contact details, TIC will input these on database under a selected product catagory.
ITC market analysis tools: As a national partner of International Trade Centre (ITC) of WTO/UNCTAD, EPB’s TIC is responsible to build awareness among the stakeholders about five market analysis tools: Trade Map, Product Map, Market Access Map, Trade Investment Map and Trade Competitiveness Map. From January 2008, these tools became free for developing countries and TIC circulated all the related notice to its trade bodies. Simultaneously, TIC has stopped the Registration process with subscription charge from the same period after the announcement.