Govt to introduce tax incentive for electronics industry: Barua

http://www.newstoday.com.bd/index.php?option=details&news_id=26523&date=2011-05-04

Govt to introduce tax incentive for electronics industry: Barua
News Report

Industries Minister Dilip Barua said the government would introduce tax incentive for electronic industry of the country. The ministry will propose for such a measure to be included in the next budget.

Dilip Barua said this while visiting the Walton Hi-tech Industries at Chandra, Kaliakoir in Gazipur on Tuesday.

The minister also unraveled five new models of non-frost Walton refrigerators during the visit at the plant.

He said Bangladesh has gained the reputation of an exporting country of refrigerators and motorcycles thanks to companies like Walton.

Walton has given Bangladesh the name of a exporting country as like Toyota and Tata helped branding Japan and India respectively in the field of electronics.

Mizanur Rahman, Walton director and international marketing expert, Humayun Kabir, director PR and media and Enayet Ferdous, media adviser of Walton accompanied the minister when he went round the state of the art factory, set up on a 20 acres of land at Chandra.

Lauding Walton’s effort, Dilip Barua has
Calling on expatriate Bangladeshis to come to see the Walton Hi-tech Industries at Chandra, Dilip Barua said that Bagladesh is no longer lagging behind in electronics item manufacturing.

The minister also pledged that the government would impose high import duty on electronics products which are now manufactured in Bangladesh and would reduce import duty on raw materials to help local companies to sustain and compete in international market.

After meeting the local demand the company has began go beyond borders. The company has already exported its products to Asia, Middle East and African countries. It also wants to export its products to France, Italy, Germany, Spain and other European countries, he mentioned.

Mizanur Rahman said, “Electronics industry has been included in the export item list and Walton has made Bangladesh known to the world through exporting its products to different countries”.

Walton brand televisions, fridges and motorcycles are being exported to Qatar, Dubai, Abu Dhabi and Kuwait of Middle East, Ghana of Africa and India, Nepal and Bhutan of South Asia. It has also formally launched the marketing activities of its products to the USA and UK, he mentioned.

Walton is going to manufacture some other electronics products at its own factory in the country very soon, he said.

Media Adviser Enayet Ferdous said the export item list should be diversified for the development of country’s economy, and Walton has been able to do it successfully. In future, the electronics industry will go ahead side-by-side the export-oriented garment sector through earning huge amount of foreign currency, contributing to national economy and creating employment opportunity in the country.

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