United News of Bangladesh

Commerce Minister Khandakar Abdul Muktadir on Tuesday called on Australia to scale up investment in Bangladesh's solar power sector, saying the government is actively working to create a business-friendly environment for foreign investors in renewable energy. The minister made the call during a meeting with Australian High Commissioner to Bangladesh Susan Ryle at the Commerce Ministry in Dhaka. The two sides held wide-ranging discussions on strengthening bilateral trade, investment and economic cooperation. “The government is committed to building an investment-friendly environment and is particularly encouraging foreign investment in the renewable energy sector,” Muktadir said. He said revitalising existing industrial enterprises, establishing new industries and generating employment are among the government's top priorities. “One of our key goals is to activate industrial assets worth approximately $7 billion and attract private investment to make these sectors productive.” The minister specifically urged Australian companies to invest in Bangladesh's solar power generation sector. High Commissioner Ryle said bilateral trade between the two countries currently stands at around $5.14 billion and is growing steadily. She noted that the energy sector, particularly renewable energy, holds significant investment potential in Bangladesh, adding that a high-level Australian delegation is already reviewing opportunities for cooperation in green energy, innovation and technology. She also said that approximately 28,000 Bangladeshi students are currently studying in Australia, making it one of the most important destinations for Bangladeshi students abroad. Both sides expressed interest in expanding cooperation in trade, education and scholarships, capacity building for Commerce Ministry officials, trade negotiations and infrastructure development. Commerce Ministry Secretary (Current Charge) Md. Abdur Rahim Khan was also present at the meeting.

In a first-of-its-kind initiative, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has launched an official podcast series to address critical industry challenges and strengthen the "Made in Bangladesh" brand on the global stage. The series features in-depth discussions with a diverse range of stakeholders, including industry leaders, economists, bankers, and policymakers. This initiative is part of the current BGMEA Board’s broader strategy to enhance transparency, counter industry myths, and chart a progressive path for the nation’s ready-made garment (RMG) sector. The podcast covers high-priority topics essential to the country's economic future, such as: LDC Graduation: Analyzing the potential impacts and preparedness for Bangladesh's transition from the Least Developed Country status. Exchange Rate Dynamics: Discussing the implications of currency fluctuations on industrial growth and international competitiveness. Economic Governance: Providing expert recommendations to assist policymakers in making forward-looking trade and business decisions. A core objective of the series is to provide an authentic narrative of the RMG sector. Despite being the backbone of Bangladesh’s economy, the industry often faces global misperceptions. The podcast seeks to address these "misconceptions and myths" by presenting the realities of the sector in a balanced and constructive manner. The initiative was spearheaded by BGMEA Vice President (Finance) Mijanur Rahman, Director Shah Rayeed Chowdhury, and Khan Monirul Alam Shuvo, Chair of the Standing Committee on Branding. "This platform serves as an effective tool for discussing pressing issues and generating actionable insights," the leaders stated, emphasizing that the podcast offers a meaningful opportunity to present the industry in its true light to international buyers and stakeholders. Two episodes have already been aired, with several more currently in production. To ensure broad engagement, the series is being broadcast across BGMEA’s official digital channels, including YouTube, Facebook, and Instagram. The series is expected to act as a vital knowledge-sharing platform, facilitating informed dialogue and constructive policy engagement for the sustained development of the RMG sector.

Bangladesh on Monday entered a new era of maritime logistics with the signing of a contract to open the MGH Terminal, the country’s first private container port, in what is being described as a ‘historic occasion’ for the maritime industry. Chairman of the Chittagong Port Authority (CPA) Rear Admiral Moniruzzaman lauded the initiative and said the contract signing of the MGH Terminal is a ‘historic occasion’ for the country’s maritime industry. “By integrating private sector agility with green technology, this terminal provides vital strategic value to the Chittagong Port. I am confident MGH Terminal will set a new benchmark for vessel turnaround times and environmental responsibility that will make our exports more competitive on the global stage,” he said. The contract signing of the facility was also attended by Group CEO of MGH Anis Ahmed, and key industry stakeholders at the CPA board room. The MGH Terminal stands as a testament to Bangladesh's growing stature in international trade, promising a faster, cleaner, and more cost-effective gateway for the nation's burgeoning import-export volumes, said the company. ​To be built on seven acres of land with a 250-metre jetty, officials said, the MGH Terminal represents a paradigm shift in the country's supply chain infrastructure. With a static capacity of 3,500 TEUs and a monthly handling capability of 40,000 TEUs, the terminal is set to expand CPA’s monthly landing capacity by 102 vessels. Officials said the MGH Terminal is distinguished as Bangladesh’s first ‘Green Port,’ integrating cutting-edge sustainable technologies to minimize its environmental footprint. The facility will feature zero-emission operations, renewable energy, carbon reduction and innovative design. ​The terminal will offer a radical improvement in vessel turnaround times. Located strategically, vessels can berth at the MGH Terminal in approximately 30 minutes from the river mouth, compared to the standard 2-hour window at the main Chittagong Port, officials said. This efficiency results in significant fuel savings of 0.6 to 1.3 tons per vessel call, drastically reducing costs for international shipping lines. Group CEO of MGH​ Anis Ahmed emphasised the group's commitment to national development and said the MGH Group is investing Tk 550 crore of their own resources to build this state-of-the-art terminal. “Our focus is on absolute efficiency; while other projects like the APM Terminal at Laldia are still in development and unreasonably escalate cost of investment within Chittagong Port, MGH Terminal is designed to be leaner, faster, and more technologically advanced. We are not just moving containers; we are moving the Bangladesh economy forward,” he said. ​As one of Bangladesh's largest multinationals with operations in 26 countries including five European nations, MGH Group is leveraging its global expertise to woo Foreign Direct Investment (FDI) from top-tier global companies. The terminal is expected to create tens of thousands of new jobs aligning with the economic vision of Prime Minister Tareque Rahman to build a highly efficient, modern economy, officials said.

Dhaka, April 19 (UNB) – The American Chamber of Commerce in Bangladesh (AmCham) held its 29th Annual General Meeting (AGM) on Sunday to review its activities and engage with its members. The meeting, held at a hotel in Dhaka, was chaired by AmCham President Syed Ershad Ahmed. Several members of the AmCham Executive Committee were in attendance, including Treasurer Al-Mamun M. Rashel, as well as Rashed Mujib Noman, Rubaba Dowla, and Mirza Shajib Raihan. Paul Frost, Commercial Counselor at the US Embassy in Dhaka and Adviser to AmCham Bangladesh, also attended the session, along with other distinguished members of the chamber. Chowdhury Kaiser Mohammad Riyadh, Executive Director of AmCham, was present to facilitate the proceedings. The event served as a platform for the chamber’s leadership to discuss organizational progress and future initiatives within the bilateral trade community.

Bangladesh Investment Development Authority (BIDA) on Sunday signed memoranda of understanding with five private commercial banks to integrate them into its One Stop Service (OSS) platform, expanding the digital investment facilitation ecosystem. The signing ceremony, held at BIDA's conference room, brought NCC Bank PLC, One Bank PLC, United Commercial Bank (UCB) PLC, Shimanto Bank PLC and Al-Arafah Islami Bank PLC into the fold. BIDA Executive Member Air Commodore Md. Shaharul Huda, who chaired the event, said the authority was steadily strengthening its OSS platform to deliver faster, simpler and more modern services to investors. "By integrating these five leading banks, investors can now access essential banking services from a single window." Under the agreements, investors will be able to open bank accounts online through the OSS portal including provisional accounts for foreign investors without approaching banks separately. The OSS platform currently offers 142 services through 47 stakeholder agencies including BIDA, and has processed over 215,000 applications to date. Sunday's MoUs bring BIDA's total such agreements with various organisations to 68. Looking ahead, BIDA has set a target of delivering more than 150 services from 60 institutions through the OSS. The services will also be accessible through BanglaBiz, a unified platform being developed to integrate all Investment Promotion Agencies (IPAs) under one roof. BIDA Director (OSS and Data Analytics) Sunil Kumar Adhikary delivered the welcome address, while Director General Jiban Krishna Saha Roy presented an overview of the OSS system. Senior officials from all five banks attended the ceremony, along with representatives from Bangladesh Bank and the Financial Institutions Division.

Metropolitan Chamber of Commerce and Industry (MCCI) President Kamran T Rahman on Sunday called for a "supportive and growth-oriented" national budget for fiscal year 2026-27, warning that businesses, particularly small and medium enterprises, are under severe strain from high inflation, sluggish investment, elevated interest rates and foreign exchange pressure. Speaking at a joint seminar of MCCI and the Economic Reporters' Forum (ERF) on budget priorities, he said the upcoming budget must be balanced and realistic, arguing that a sensible tax policy can simultaneously boost revenue, encourage investment and generate employment rather than punish businesses further. Private sector-led growth vital to revive Bangladesh’s economy: MCCI report Kamran proposed full integration of the National Identity (NID) and Tax Identification Number (TIN) databases to expand the tax net, noting that though over one crore taxpayers hold TINs, fewer than half file returns. He also recommended introducing a symbolic minimum tax to bring new taxpayers into the fold and simplifying return filing through mobile applications. The MCCI chief urged the government to reconsider conditions tied to corporate tax benefits, especially restrictions on cash transactions, saying many businesses are unable to avail themselves of reduced rates due to practical limitations. He further suggested cutting tax rates for both listed and non-listed companies by an additional 2.5% to stimulate investment. Kamran proposed a unified taxpayer profile covering income tax, VAT and customs to reduce administrative complexity and harassment, along with online hearings and digital notices to cut time and cost for businesses. On VAT and customs, he recommended simplifying procedures, ensuring valuation based on transaction value, strengthening automation and allowing disclosure of quantity instead of value in certain VAT forms to protect business confidentiality. The MCCI President called for special policy support for SMEs, including separate tax treatment, input tax credit facilities and reduced duty and VAT on raw materials. Comprehensive reform roadmap presented The policy recommendations were formally presented by Md Shahadat Hossain, former President of Institute of Chartered Accountants of Bangladesh (ICAB) through a paper titled “National Budget 2026-2027: Private Sector Priorities & Perspectives”, which laid out a wide-ranging roadmap covering corporate tax, VAT, customs and capital market reform. Shahadat said the national budget should be seen not merely as a revenue-and-expenditure statement but as a comprehensive policy framework encompassing economic growth, investment, employment and inflation management. He flagged Bangladesh's tax-to-GDP ratio hovering between 6.5% and 7.3% in FY2024-25 as among the lowest globally, well below the 15% threshold considered necessary for sustainable development. Shahadat noted that around 66% of total tax revenue comes from indirect taxes, disproportionately burdening lower-income groups and widening inequality. On corporate tax, the paper recommended rates of 20% for publicly traded companies with a minimum 10% IPO, 22.5% for those with less than 10% IPO, 25% for non-publicly traded firms, 20% for one-person companies, and 25% for trusts, associations of persons and firms. For individuals, it proposed a tax-free threshold of Tk 5 lakh, with graded rates from 5% to 30% on higher income slabs. The paper also called for rationalising withholding taxes, including a 0.3% tax on gross receipts, TDS on supply between 1% and 3%, and import-stage tax reduced from 5% to 3% to ease compliance and prevent double taxation. On administration, the recommendations included limiting reopening of tax files to within six years, prohibiting estimated profit assessments, mandating written reasons for disallowances, and digitising hearings and notices. On capital markets, the paper stressed reducing overdependence on bank financing and proposed tax exemptions on zero-coupon bond investments, tax-free capital gains on treasury instruments in secondary markets and removal of the super tax on stock dividends. Shahadat concluded that Bangladesh stands at a critical juncture, and that a budget reflecting private sector priorities will broaden the tax base, reduce compliance burden, attract investment and strengthen investor confidence.

Dhaka Chamber of Commerce & Industry (DCCI) has signed Memoranda of Cooperation (MoCs) with three leading Chinese business chambers to strengthen bilateral relations and expand trade and investment cooperation. The agreements were signed on Saturday in Guangdong, China, with the Guangdong Chamber of Commerce of Importers & Exporters (GDCCIE), the China Chamber of Commerce for Import and Export of Machinery and Electronics Products (CCCME), and the Guangzhou Chamber of Commerce for Outbound Business, according to a DCCI press release. DCCI Senior Vice President and delegation leader Razeev H Chowdhury signed the MoCs on behalf of the chamber, while representatives of the respective Chinese organisations signed for their sides. As part of the visit, DCCI delegation members also joined the “Trade Bridge–Bangladesh Matchmaking Event” held at the China Foreign Trade Centre during the 139th Canton Fair, where they participated in B2B meetings with around 270 Chinese companies. Speaking at a business session, Razeev said China remains a driving force in global trade and a major source of Bangladesh’s imports, which stood at around $18 billion in the last fiscal year. He noted that China is the fifth-largest foreign investor in Bangladesh, with investments of about $1.7 billion across multiple sectors. Razeev highlighted significant opportunities for bilateral collaboration in agro-processing, infrastructure, renewable energy, shipbuilding, automotive, light engineering, semiconductors and other high-tech industries. Director of CCPIT Qiu said Nansha holds strategic geographic importance and recorded a regional GDP exceeding RMB 240 billion in 2025, offering strong prospects for joint ventures in industrial clusters including automobiles, shipbuilding and biomedicine. Guangdong Chamber President Wu Shaowei said Bangladesh could serve as a gateway for Guangdong-made products to South Asian markets and stressed the need to deepen business linkages. CCCME Vice President Shi Yonghong described the 139th Canton Fair as a major platform for global business engagement, noting that it would help strengthen connections between Bangladeshi entrepreneurs and Chinese manufacturers.

The DSE Brokers Association of Bangladesh (DBA) has signed a memorandum of understanding (MoU) with the Japan Securities Dealers Association (JSDA) aimed at fostering sustainable development, improving efficiency and strengthening international cooperation in Bangladesh’s capital market. The agreement was signed on April 9 by Takashi Hibino, chairman and CEO of JSDA, and Saiful Islam, president of DBA, on behalf of their respective organisations, according to a press release issued on Saturday. The MoU marks DBA’s first formal agreement with an international self-regulatory organisation (SRO), representing a significant milestone for the association and its efforts to strengthen Bangladesh’s capital market through global collaboration. Under the agreement, both organisations will work together in several key areas to support the development of the securities market. These include exchange of laws and regulations related to financial investment business and capital markets, development of governance frameworks, policy-making processes and operational practices of SROs, and strengthening supervision and compliance mechanisms. The cooperation will also focus on enhancing efficient and effective financial transaction systems, promoting innovation in new investment instruments and services, and expanding investor education programmes. Both sides also agreed to extend cooperation and consultation on other areas of mutual interest as required. Commenting on the agreement, DBA President Saiful Islam said the MoU represents a significant advancement for Bangladesh’s capital market. “Partnering with a well-established and experienced self-regulatory organisation like JSDA will play a crucial role in strengthening our market structure, governance and institutional capacity,” he said. The press release also noted that the Asia Securities Forum (ASF), established and operated by JSDA, is a prominent international platform for the securities industry in the Asia-Pacific region. Since becoming a member in 2023, DBA has been actively participating in various international meetings, seminars and initiatives organised by the forum, contributing to the development of Bangladesh’s capital market.  

The International Monetary Fund (IMF) has emphasized that Bangladesh requires extensive reforms across three critical sectors, including financial, fiscal, and foreign exchange. According to the global lender, significant work remains to be done in each of these areas to ensure economic stability. Krishna Srinivasan, Director of the IMF's Asia and Pacific Department, made these remarks on Thursday while responding to questions from Bangladeshi journalists at a press conference in Washington, D.C. The briefing was attended by media representatives from India, Nepal, Sri Lanka, and South Korea, among other nations. The briefing took place on the sidelines of the World Bank-IMF Spring Meetings, which commenced on April 13 and are scheduled to conclude on April 18. A 14-member Bangladeshi delegation, led by Finance and Planning Minister Amir Khosru Mahmud Chowdhury and Bangladesh Bank Governor Md. Mostaqur Rahman, is currently attending the meetings. Reflecting on his visit to Bangladesh on March 24, where he met with Prime Minister Tarique Rahman and the Finance Minister, Srinivasan shared his impressions of the new government's capacity for reform. "I visited Bangladesh and held meetings with the Prime Minister and other high-level officials. We discussed the challenges ahead," Srinivasan stated. "I noted that a government with a strong majority has the opportunity to undertake ambitious reform agendas. They have listened to our suggestions; now we must wait and see how they respond," he opined. The IMF Director expressed concern over Bangladesh's revenue collection performance. "In terms of revenue mobilization, Bangladesh has not performed well. It remains at a low level and has seen further deterioration over the last three years," he noted. Regarding the release of the next loan tranche, he mentioned that discussions are ongoing, and updates would be provided in due course. Highlighting the situation in Sri Lanka, Srinivasan pointed out that under its IMF-supported program, the country has made significant strides in increasing its tax-to-GDP ratio over the last three years, gradually building financial buffers. He noted that Sri Lanka is now in a relatively better position to support citizens affected by energy price shocks. Srinivasan warned that because Bangladesh has a small revenue base, the government faces greater pressure when trying to provide social safety nets. "The people of Bangladesh are suffering. Therefore, it is crucial that whatever resources Bangladesh possesses are utilized with maximum target-based efficiency," he urged. He advised Bangladesh to focus on increasing revenue collection while addressing other barriers in the financial sector to boost both short-term and long-term growth. Like other Asian nations, Bangladesh has been impacted by global energy shocks, and Srinivasan concluded that policy support and program discussions are active, with the outcome depending on how effectively these dialogues progress.

A three-day international exhibition titled “11th Safecon 2026” has begun in Dhaka to enhance international cooperation in the renewable energy and infrastructure sectors. The exhibition was inaugurated at the International Convention City Bashundhara (ICCB) the capital’s Kuril on Thursday. Organized by Savor International Limited, the exhibition will remain open to all visitors from 16 April to 18 April every day from 10 am to 7 pm, said a media statement. Postmaster Communication is serving as the Event Partner of the exhibition. The event was inaugurated by the Special Guest Mostafa Al Mahmud, President, Bangladesh Sustainable and Renewable Energy Association (BSREA).   Bilal Belyurt, Commercial Counsellor, The Embassy of Türkiye in Dhaka, Arefeen Raafi Ahmed, 2026 National President, JCI Bangladesh, Sunghoon Lee, Deputy Director, Korea Trade-Investment Promotion Agency (KOTRA), Wang Hongbo, Vice President, Chinese Enterprises Association In Bangladesh (CEAB), A.Z.M. Azizur Rahman, Senior Vice President, Bangladesh China Chamber of Commerce & Industry (BCCCI), and Md. Faizul Alam, Managing Director of Savor International Limited, were also present at the programme. The objective of the “11th SAFECON 2026” exhibition is to enhance facilities and opportunities in the infrastructure construction materials, water management, timber, engineered wood and technology, power industry sectors. “SAFECON 2026” serves as a business platform where companies from both local and international markets have the opportunity to showcase their products, technologies, and solutions, which will contribute to the development of the country’s infrastructure. The exhibition aims to strengthen B2B collaboration and the exchange of experience, and to inspire policymakers, engineers, entrepreneurs, and foreign investors involved in national development to explore new avenues for a progressive and sustainable future.  The event will play a significant role in expanding business networking, facilitating technology exchange, and creating new investment opportunities. It will also strengthen collaboration among policymakers, engineers, entrepreneurs, and foreign investors. A total of 400 stalls from more than 10 countries including Bangladesh, China, Korea, Turkey, India, Malaysia, and Singapore are taking part in the expo. The domestic and international companies related to infrastructure construction, power generation, renewable energy, water management, infrastructure equipment and machinery, timber, engineered wood, and technology are participating in the exhibition.