Three Chinese-owned factories at the Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN), Chattogram, are struggling with a new rule from the Chattogram Customs Bond Commissionerate requiring bank guarantees to release imported raw materials. This rule, which does not apply to other Export Processing Zones (EPZs) in Bangladesh, is causing significant delays and financial burdens for the companies. The factories, which began production in November last year, have submitted bank guarantees totaling Tk2.55 crore for 15 import consignments. The investors cite additional challenges including financial losses due to a dollar crisis, increased dollar prices, a global trade recession, labor shortages, and inadequate infrastructure. BEPZA officials argue that the bank guarantee requirement is unnecessary and have communicated with the National Board of Revenue (NBR) to abolish the rule. The NBR is reviewing the issue, with hopes of resolving it to maintain investor confidence.
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