The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urges the withdrawal of the proposed 1% import duty in economic zones for FY25, advocating for the extension of previous 0% import duty benefits for at least five to ten more years. This move is deemed crucial to maintain foreign investment momentum. Bangladesh Economic Zones Authority (Beza) also seeks the duty’s withdrawal. Currently, there are 97 approved economic zones, with 68 government-owned and 29 private, hosting 50 operational industrial establishments and employing 60,000 people. Beza aims to establish 100 zones by 2041, targeting $40 billion in annual exports. The FY24-25 budget proposes a 1% duty on used construction materials for zone development and changes to vehicle import duties within zones. Over 200 companies have been allocated land in the 29 zones, with proposed investments totaling $23 billion, $5.5 billion of which has already been invested, supporting 43 operational establishments with 70 more under construction.
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