$ 1,700m fdi received last year _ financial express _ financial newspaper of ban
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$ 1,700m FDI received last year :: Financial Express :: Financial Newspaper of Bangladesh
http://www.thefinancialexpress-bd.com/index.php?ref=MjBfMDZfMDdfMTNfMV84OV8xNzE5NzA=[10/25/2013 5:52:59 PM]
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VOL 20 NO 157 REGD NO DA 1589 | Dhaka, Friday, June 07 2013
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$ 1,700m FDI received last yearPublished : Friday, 07 June 2013
FE Report
Finance Minister AMA Muhithin his budget speech saidThursday that the foreigndirect investment (FDI) wasUS$ 1,700 million in 2012. Incalendar year 2011, FDI flowstood at USD 1,136 million,he added.
"We have made significantprogress in augmentinginvestments," the minister said. The Board of Investment (BoI) has submittedtwo encouraging reports on FDI. The FDI flow has increased over the last twoyears, he said.
Muhith said in the current year, however, the private investors are a bithesitant because of the upcoming election-related political tensions.
This might lower down private investment. But, with the increase of publicinvestment this year, the investment GDP ratio will move up to 26.85 per centwhich is the highest ever ratio so far, he commented.
In the past, the government extended a number of facilities for investment ofundisclosed income which did not yield any tangible outcome.
"We must remember that we are not a self-sufficient island. We have faredbetter than our neighbors in the wake of global financial crisis and itsaftermath. I have already talked about PPP," he said.
The current regulatory regime stipulates that such undisclosed income can beinvested by paying extra 10 per cent tax together with applicable tax rateswhich may come around 2.5 percent of income.
Considering the difficult period experienced last year the government hasallowed special facilities for investing in plots or flats, he said.
"Besides, we have enhanced the tax rebate facilities for investment by firms orindividuals to a large extent i.e. 15 per cent tax rebate will be allowed forinvestment of 30 per cent of income.," Muhith said.
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$ 1,700m FDI received last year :: Financial Express :: Financial Newspaper of Bangladesh
http://www.thefinancialexpress-bd.com/index.php?ref=MjBfMDZfMDdfMTNfMV84OV8xNzE5NzA=[10/25/2013 5:52:59 PM]
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