CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed
Govt eyes Russia, Myanmar in new plans to expand export
The government is mulling massive reform initiatives to revamp the export sector and gain the status of a developed nation, and get access to duty-free markets in Russia and Myanmar, Dhaka Tribune reported.
The report said that in order to achieve the target, the Commerce Ministry has planned to take a total of 16 initiatives, and accordingly, the authorities concerned are working to further ease the country’s banking facilities for businessmen to export their products to the countries.
Besides, a separate fund will be created for the sector’s growth, the report added.
We need transparency, political will, good investment climate to curb capital flight
Experts say that transparency in source of earning money, political will to stop corruption and ensuring investment-friendly environment and bringing money launderers into justice must be ensured to prevent illegal capital flights out of the country, Dhaka Tribune reported.
Export businesses in Chittagong hit hard by water-logging
The perennial water-logging problem has taken a heavy toll on the export-oriented businesses of Chittagong, known as the commercial capital of Bangladesh, Dhaka Tribune reported.
Nearly a third of the port city goes underwater every monsoon while its southern part gets inundated during high tides even with no rainfall, the report added.
Govt to cut source tax on RMG exports
The government is set to reduce the tax at source on export of readymade garment following demands of apparel exporters, said finance ministry officials, New Age reported.
They said that the government high-ups had already agreed to a proposal of RMG sector leaders to lower the rate to 0.70 per cent from the existing rate of 1 per cent, the report added.
