Kamal encourages foreign ICT companies to set up plants in Bangladesh

For setting up manufacturing plants in Bangladesh, foreign ICT companies will enjoy different facilities.

Finance Minister AHM Mustafa Kamal gave the assurance while commenting on Post and Telecommunications Minister Mustafa Jabbar's demand for imposing more duties and taxes on imported ICT products. 

"For revenue, investment and employment generation, it is crucial at this moment," said Kamal on Saturday while speaking as the chief guest at the closing ceremony of three-day-long Digital Bangladesh Fair 2020, held at the Bangabandhu International Conference Centre at Sher-e-Bangla Nagar in Dhaka.

"Global annual demand for ICT products is $4 trillion and around $900 billion for readymade garments. So we have ample growth opportunities in the ICT sector," he added.

While Mustafa Jabbar said, "Earlier, we would ask the government's favour for tax and duty rebate on ICT related imported devices. In contrast, now we want it to impose more duty on imported ICT products as Bangladesh is producing quality ICT products."

Jabbar also asked Kamal to help cut the 15 percent value-added tax (VAT) for internet service providers as they collect only 5 percent VAT from the end-users. 

The fair, inaugurated on January 16, had a total of 82 stalls.