Getting Migration Governance Right

Photo of Sheikh HasinaThe Embassy of Bangladesh in Paris is proud to share with you an article titled " Getting Migration Governance Right", authored by H.E. Sheikh Hasina, Hon'ble Prime Minister of Bangladesh. In her article, Hon'ble Prime Minister has called upon the international community to give a closer look at the issue of migration, one of the most serious challenges facing the world today. The article has been published in the Project Syndicate, a prestigious forum that provides original, high-quality commentaries to a global audience by featuring exclusive contributions by prominent political leaders, policymakers, scholars, business leaders, and civic activists from around the world.Link: Getting Migration Governance Right

Economic Zones in Bangladesh

 

Bangladesh Economic Zones Authority (BEZA), an attached agency of the Prime Minister’s Office (PMO), is mandated to establish, license, operate, manage, and control economic zones in Bangladesh. BEZA's objective is to establish one hundred EZs in the next fifteen years with the target of generating 10 million employment and receiving USD 40 billion export earnings. However, some privately owned economic zone sites are being constructed in different part of Bangladesh. The detail list is mentioned below: 

Government-owned Economic Zone Site: 

BEZA is constructing five economic zones in the following areas: 

1. Maulovibazar Economic Zone, Sylhet

2. Anowara (Gohira) Economic Zone, Chittagong

3. Mirsarai Economic Zone, Chittagong

4. Sirajgong Economic Zone, Rajshahi 

5. Mongla Economic Zone, Bagerhat 

 

Planned New Economic Zones:

BEZA has planned to establish new Economic Zone in the following areas:

1. Anowara-2 Economic Zone, Chittagong

2. Jamalpur Economic Zone Jamalpur

3. Narayanganj Economic Zone, Narayanganj

4. Bhola Economic Zone, Bhola

5.  Ashuganj Economic Zone, Brahmanbaria

6. Dhaka IT Special Economic Zone, Dhaka 

7. Panchghar Economic Zone¸ Panchghar

8. Narsingdi Economic Zone, Narsingdi

9. Manikgoni Economic Zone, Manikgoni

10. Kustia Economic Zone, Kustia

11. Agailjhara Economic Zone, Barisal

12. Nilphamari Economic Zone¸ Nilphamari

13. Shariatpur Economic Zone, Goshairhat

14. Shariatpur Economic Zone, Jagira

15. Dhaka Economic Zone, Dhaka

16. Habiganj Economic Zone¸ Habiganj

17. Jahardiwp Economic Zone, Cox's Bazar

18. Cox's Bazar Free Trade Zone, Cox's Bazar

19. Moheshkhali Economic Zone, Moheshkhali

20. Moheshkhali Economic Zone -2, Moheshkhali

21. Moheshkhali Economic Zone -3, Moheshkhali

22. Narayanganj Economic Zone -2, Narayanganj

23. Natore Economic Zone, Natore

 

Private sector economic zones (proposed and operational) are listed below: 

1. AK Khan Private Economic Zone, Narsingdi

2. Abdul Monem Private Economic Zone, Munshiganj

3. Meghna Private Economic Zone, Narayanganj

4. Comilla Private Economic Zone, Comilla

5. Garments Industrial Park, Munshiganj

6. Meghna Industrial Zone, Narayanganj

7. Famkam Private Economic Zone, Bagerhat

Incentive Package 

BEZA offers multiple incentives to the developer of the Economic Zone as well as to a particular manufacturing unit. The incentive structure for Zone Developer and Investor Unit are ranging from fiscal incentives such as exemption of taxes, custom/excise duties to non-fiscal incentives such as no FDI ceiling, work permits related and recommendation for Resident ship/ Citizenship. 

Incentives & Benefits for Developers 

1. Tax Holiday

 Income tax exemption on income derived from the business development of EZ for10 years. After expiry of 10th year, tax exemption will be 70% in 11th year and 30% in 12th year. But the tax exemption will not be applicable from 13th year.

2. VAT Exemption on local purchase

• All local purchase excluding petroleum product from Domestic Tariff Area (DTA) shall be exempted from VAT, sales tax etc.

• VAT Exemption on electricity or taxes on sale (for 10 years) 

3. Exemption from custom/excise duties

4. Exemption from stamp duty and registration fees for land registration for the first time 

5. Exemption from stamp duty and registration fees for land registration of loan/credit document 

6. Exemption from dividend tax 

7. Exemption from Tax on Income from service charges  

 

Incentives & Benefits for Investors/EZ users 

1. Tax Holiday up to 100% 

2. Duty free import of raw materials, construction materials, capital machineries and finished goods.

3. Full repatriation of capital and dividend JV.

4. Exemption from dividend tax (after tax venture industry holiday period is elapsed).

5. 50% exemption of stamp duty and registration fees for registration of leasehold land/ factory space.

6. 50% Rebate of income tax on salary income of expatriates for 5 years.

7. Exemption of double taxation subject to double taxation agreement.

8. Tax exemption on capital gains from transfer of share. 

9. Sub-contracting with DTA is allowed. 

10. Provision of transfer of shares by foreign stakeholders to local shareholder and investors 

11. 50% exemption of stamp duty and registration fees investors.

12. 80% exemption of VAT on all utility services consumed inside the zone.

13. Consider Export Processing Area of Economic Zone as custom bonded area. 

14. Re-investment of remittable dividend to be treated as new foreign investment.

15. Foreign loan is allowed in compliance with existing laws.

16. No restrictions on issuance of work permits on project related foreign nationals and employees but limited up to 5% of total employees.

17. Royalty, technical fees will be exempted from income tax.

18. Resident visa for investment of US$ 75000 or more.

19. Citizenship for investment of US$ 500000 or more.

 

Contact:

Bangladesh Economic Zones Authority (BEZA) 

BDBL Bhaban(Level 15), 12 Karwan Bazar Dhaka 1215

Phone : +88-02 8180114, Fax : +8802 8180130

E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it.  

Website : http://www.beza.gov.bd