OIC countries urged to invest in tourism sector
UNB, Dhaka :
Bangladesh on Thursday urged the member states of the Organization of Islamic Cooperation (OIC) to come up with investment-both directly and in joint ventures-under the PPP in the country’s tourism sector to help turn it a global tourism hub.
“Bangladesh offers some of the world’s most competitive fiscal and non-fiscal incentives, such as, no restriction on size of investment, exemption of income tax for up to three years,” said Commerce Minister Tofail Ahmed.
The Commerce Minister made the call while addressing the 30th Session of the COMCEC on ‘The Role of Public Private Partnerships (PPP) for the Development of the Tourism Sector in OIC Member States at Istanbul Congress Centre in Turkey.
Describing the potential for foreign investment, the Commerce Minister said tourism has been given a special focus in Bangladesh’s policies of Public Private Partnership.
“In fact, we’ve a plan to develop an exotic tourist destination in Asia by enhancing contribution to GDP from 0.69 to 2 percent by 2015. To achieve this target, we think, it’s essential to establish tourism infrastructure through PPP,” Tofail said. Despite having potential, the tourism industry in Bangladesh is still in a nascent stage compared to neighbouring countries, he said.
“Recently, the government has formed Bangladesh Tourism Board with a mandate to expand tourism activities through publicity and engaging foreign tourist operators with local tourist operators,” Tofail Ahmed said.
He mentioned that the government has already undertaken nine PPP initiatives, which, among others, include the development of Tourism and Entertainment Village and establishment of international standard tourism complex in Cox’s Bazar, establishment of Exclusive Tourist Zone (ETZ) at Sabrang Teknaf, and construction of watch tower in Kuakata.
Bangladesh on Thursday urged the member states of the Organization of Islamic Cooperation (OIC) to come up with investment-both directly and in joint ventures-under the PPP in the country’s tourism sector to help turn it a global tourism hub.
“Bangladesh offers some of the world’s most competitive fiscal and non-fiscal incentives, such as, no restriction on size of investment, exemption of income tax for up to three years,” said Commerce Minister Tofail Ahmed.
The Commerce Minister made the call while addressing the 30th Session of the COMCEC on ‘The Role of Public Private Partnerships (PPP) for the Development of the Tourism Sector in OIC Member States at Istanbul Congress Centre in Turkey.
Describing the potential for foreign investment, the Commerce Minister said tourism has been given a special focus in Bangladesh’s policies of Public Private Partnership.
“In fact, we’ve a plan to develop an exotic tourist destination in Asia by enhancing contribution to GDP from 0.69 to 2 percent by 2015. To achieve this target, we think, it’s essential to establish tourism infrastructure through PPP,” Tofail said. Despite having potential, the tourism industry in Bangladesh is still in a nascent stage compared to neighbouring countries, he said.
“Recently, the government has formed Bangladesh Tourism Board with a mandate to expand tourism activities through publicity and engaging foreign tourist operators with local tourist operators,” Tofail Ahmed said.
He mentioned that the government has already undertaken nine PPP initiatives, which, among others, include the development of Tourism and Entertainment Village and establishment of international standard tourism complex in Cox’s Bazar, establishment of Exclusive Tourist Zone (ETZ) at Sabrang Teknaf, and construction of watch tower in Kuakata.
