Daily Entrepreneurship- Bangladesh (8 April 2019)

Exports continue good run in March

Exports continued its good run in March, fetching 9.51 percent more than a year earlier and getting into a comfortable position to hit this fiscal year’s target of $39 billion.

In March overseas shipments brought $3.34 billion, which is 2.45 percent more than the target set for the month, according to data from the Export Promotion Bureau.

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MCCI calls for corporate tax cuts

The Metropolitan Chamber of Commerce and Industry (MCCI) yesterday demanded reduction in corporate tax in the next fiscal year to facilitate trade and investment.

The trade body also urged the government to bring down the highest tax rate to 25 percent for individual taxpayers from the current 30 percent, saying a slash in the rate would encourage taxpayers to disclose their actual incomes.

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Huawei launches event focusing 5G potential

Huawei launched a five-day event yesterday emphasising possibilities of 5G and introducing various advanced features of next generation networking equipment, integration and value creation from digital inclusion.

The event, titled “Advancing Digital Bangladesh, 2019”, is being held at the global ICT solutions provider’s Customer Solution Innovation and Integration Experience Center in the capital’s Gulshan, says a press release.

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Achieving sustainable development through entrepreneurship and innovation

  • Women’s empowerment principles should be embedded in all strategic plans for achieving  the SDGs.
  • Establish a specialised bank geared towards funding women and young entrepreneurs.
  • A mentorship framework needs to be developed for young entrepreneurs.
  • Digitisation of business process and optimum utilisation of technologies such as artificial intelligence and machine learning should be ensured.
  • Create flexible financing opportunities for women entrepreneurs.

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Go Green Bangladesh promotes ‘Sonali Bag’

Anti-polythene campaign ‘Go Green Bangladesh’ is promoting the commercial use of ‘Sonali Bag’, a locally-produced alternative to polythene.

Dr Mubarak Ahmad Khan, who made the bag from jute cellulose, is giving full support to the campaign.

Suraiya Yasmin Ruma, cofounder of Go Green Bangladesh, said: “We want to encourage businesses to shun polythene and embrace environment-friendly Sonali Bag.”

Owners of ‘Onuvob’, one of the first shops to embrace the bag, said they will donate 10 percent of their annual profits for anti-polythene campaign.

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PM seeks Italy’s support for leather sector development

Prime Minister Sheikh Hasina on Sunday sought cooperation from Italy to develop Bangladesh’s leather sector.

“We need your cooperation in leather sector. Italian leather goods are good, Italians are very much careful about their leather goods,” she said when the newly appointed Italian Ambassador to Bangladesh Enrico Nunziata called on her at her office.

PM’s press secretary Ihsanul Karim briefed the reporters after the meeting, reports UNB.

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MCCI proposes for reducing corporate tax rate

The Metropolitan Chamber of Commerce and Industry (MCCI) yesterday proposed to reduce the corporate tax rate in the budget for the fiscal year 2019-20.

They said if the tax burden on the private companies is reduced, it will help increase the usable profit and thus scopes will be created for re-investment. This will also help generating newer employments as well as boosting the GDP growth, they added.

The MCCI leaders placed these proposals before the National Board of Revenue (NBR) yesterday at a pre-budget meeting held at its conference room.

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July-March exports soar riding on RMG sector

Bangladesh’s export shipments in nine months of the current fiscal year have risen by 12.57% to $30.90 billion, riding on the apparel sector bolstered by improved safety standards and political stability.

According to the Export Promotion Bureau (EPB) data released yesterday, during the July-March period of FY2018-19, Bangladesh earned $30.90 billion — up from $27.45 billion during the same period in the previous fiscal year (FY2017-18).

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Trends and challenges in trade financing: Bangladesh perspective

The banking industry of Bangladesh has been facilitating payment, finance and risk management services to the traders, and thus contributing remarkably towards trade integration of the country with other economies of the world. Banks have considerable involvement in trade facilitation by engaging in relevant legal enforcements and commercial risk minimisation. The regulatory provisions for international trade facilitation in the country expedite greater involvement of the trade services departments with both greater risks and greater opportunities.

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