The Financial Express

Tofail seeks more Singaporean investment in EZs

Asks Singapore envoy to cut tariff for boosting bilateral trade

| Updated: November 14, 2017 20:29:49

Photo Credit: Focus Bangla Photo Credit: Focus Bangla

As government allows 100 per cent foreign investments in Bangladesh’s economic zones, keeping that into consideration, Singaporean entrepreneurs are most welcome to invest in the EZs.

Commerce Minister Tofail Ahmed said this to High Commissioner of Singapore in Dhaka Derek Loh when the latter called on him at his secretariat on Monday.

"Singaporean entrepreneurs can invest in the Economic Zones. The government now allows hundred percent foreign investments in the country's EZs," said Tofail.

During the meeting, they discussed matters related to development of bilateral trade, reports BSS citing a media release.

The high commissioner requested the commerce minister for renewal of double tax related matters of the Singaporean investors.

Tofail assured him of looking into the matter.

Tofail said Bangladesh imports goods worth US$2.5 billion from Singapore against its export of US$325 million. He urged the high commissioner to play a role in bringing down duty/tariff to zero for boosting bilateral trade.

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