PM announces 1.5pc incentive for bringing FDI
The Prime Minister, Tarique Rahman, on Wednesday told Jatiya Sangsad that anyone who brings foreign investment into Bangladesh will be entitled to a 1.5 percent consultancy fee or commission as an incentive aimed at boosting foreign direct investment in the country.
He stated that the decision was finalised at a recent meeting, where it was agreed that a formal framework would be established to incentivise those who can draw foreign capital to Bangladesh.
The Prime Minister also said the incentive would be available to any Bangladeshi or foreign citizen who facilitates foreign investment in the country. The initiative is part of the government’s efforts to increase FDI by utilizing the expertise, networks and influence of skilled members of the Bangladeshi diaspora living abroad.
He expressed hope that expatriate Bangladeshis would play a more active role in encouraging foreign investors to invest in the country’s growing economy.
The prime minister made the announcement while replying to a supplementary question from women’s reserved seat lawmaker Joharat Adib Chowdhury, during the fourth sitting of the first budget session of the 13th Jatiya Sangsad.
The session was chaired by Speaker Hafiz Uddin Ahmed.
Under the new scheme, individuals who bring in foreign investment will receive 1.5 per cent of the total investment amount as a consultancy fee or commission.
The prime minister explained that the move is intended to encourage skilled and capable members of the Bangladeshi diaspora, as well as other qualified individuals abroad, to leverage their expertise and networks to attract foreign investors.
He expressed hope that the initiative would boost foreign investment inflows by actively engaging experienced professionals in investment promotion efforts.
Replying to a starred question from Cumilla-10 lawmaker Mobasher Alam Bhuiyan, the Prime Minister told the JS that Bangladesh is forging ahead with a series of major port infrastructure projects aimed at boosting the country’s foreign trade capacity.
He noted that the Laldia Terminal is set to begin operations later this year, whilst rapid progress is being made on the Bay Terminal project, and construction is advancing steadily on the Matarbari Deep Sea Port.
Upon completion, the Matarbari Deep Sea Port will enable large ocean-going vessels to berth directly at Bangladeshi ports, significantly enhancing the country’s shipping and trade capacity.
The Prime Minister outlined a series of comprehensive measures undertaken by the government to simplify investment procedures and attract both domestic and foreign investors.
The prime minister also informed that steps had been taken to remove non-tariff barriers on imports intended for export production.
Import payment procedures are also being simplified, and all importers, regardless of transaction value, will be allowed to import goods through contracts without requiring Letters of Credit (L/C).
