The business climate’s uncertainty is causing a decline in new company registrations.

05/03/2024 | | Corporate, International, Investment

Summary Aspiring entrepreneurs in Bangladesh are encountering significant challenges, as the country's business environment is being stifled by political instability and worldwide uncertainties. The number of registered corporations has declined, and only a small minority of them can successfully get off the ground. These hurdles have made it increasingly difficult for entrepreneurs to navigate the competitive market and establish themselves... Read More

IOT devices have been launched by Grameenphone

05/03/2024 | | Commercial, Information Technology, Investment

Summary: Grameenphone has recently launched a series of Internet of Things (IoT) devices that enable users to remotely monitor and regulate their gas stoves, lighting, and other related safety aspects of their home, vehicle, or office. The brand name for the collection of devices, along with its accompanying app that facilitates user control and operation, is Alo. The range consists... Read More

The approval for the import of 40MW hydro power from Nepal has been granted

30/12/2023 | | Construction, International, Investment

Summary: The government recently gave the green light for the establishment of two solar power plants and the import of 40 megawatts of power from Nepal through the Indian grid, using the direct purchase method. These decisions were made in separate meetings of the Cabinet Committee on Economic Affairs and the Cabinet Committee on National Purchase, both of which were... Read More

The misuse of bonds has nearly halved in Bangladesh, resulting in savings of $1.45 billion during the period of July to September

30/12/2023 | | Commercial, International, Investment, Taxes & Finance

Summary The government granted tax concessions of approximately Tk1 lakh crore on raw material imports under the bond facility in FY2022-23, resulting in a reduction worth $1.45 billion in the first quarter of the present financial year. During the first three months of the current fiscal year, the misuse of bond facilities, which offer import duty concessions for raw materials... Read More

African carbon deal is being lined up by a big oil producer Ahead of climate talks

30/12/2023 | | Construction, International, Investment

Summary: The United Arab Emirates, a country that holds a prominent position as one of the world's largest exporters of fossil fuels, is keen on establishing itself as an influential leader in creating global carbon markets. This move comes as the country prepares to host the annual United Nations climate talks, scheduled to take place this month. Content: The efforts of a... Read More

Bangladesh’s ship recycling yards will receive $1.364m investment from Norway to improve eco-friendliness

30/12/2023 | | International, Investment, Shipping

Summary:  Norway's government will invest $1.364 million to transform Bangladesh's shipbreaking yards into eco-friendly facilities. This project aims to protect the environment by reducing pollution in the ship breaking industry.  Content: The Ministry of Industries, the Norwegian government, and the International Maritime Organization (IMO) are collaborating on a project called "Safe and Environmentally Sound Ship Recycling Project (SENSREC) Phase-3". On Wednesday, at... Read More

Beyond 2026, Bangladesh is set to continue receiving trade benefits

30/12/2023 | | Corporate, International, Investment

Summary: WTO member nations have successfully reached an agreement to provide support to Bangladesh and other least developed countries (LDCs) as they progress towards graduation. Starting November 2026, Bangladesh will continue to receive trade benefits even after it graduates from the list of least-developed countries. However, the World Trade Organization (WTO) has decided to extend support measures for countries that... Read More

Congratulations to Penta-Ocean Construction Co., Ltd., on their opening of the channel of Matarbari Deep Sea Port.

12/11/2023 | | Construction, International, Investment, Shipping

Rahman's Chambers is delighted to congratulate our client, Penta-Ocean Construction Co., Ltd., on the opening of the channel of Matarbari Deep Sea Port. This is a landmark project that will have a significant impact on the Bangladesh economy and improve the lives of millions of Bangladeshis. Penta-Ocean Construction Co., Ltd. played a vital role in the development of the constructing... Read More

Deposits made to Universal Pension may expect to receive a tax rebate

30/10/2023 | | Investment, Taxes & Finance

Summary: The government is offering tax rebates on deposits for the Universal Pension Scheme to encourage investment.  Content: An official from the National Pension Authority has confirmed that they have sent a letter to the National Board of Revenue (NBR) asking for appropriate action to be taken. It has been suggested that the board will issue an order relating to this matter... Read More

Appointment of Contractors in November for the construction of the Matarbari deep-sea port

29/10/2023 | | Construction, Investment, Shipping

Summary: Next month (November), contractors are expected to be appointed by the Chittagong Port Authority (CPA) for the construction of Matarbari Deep-sea Port. It is anticipated that the evaluation of tenders submitted for the construction work of the port will be completed soon. Afterwards, the authorities will proceed with the appointment of contractors for both sides, namely Chittagong Port and... Read More

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