local-business
Three-day trade expo on construction, wood and electrical kicks off at ICCB
A three-day trade expo on building-construction, wood-woodworking and electrical production-technology began on Thursday at International Convention City Bashundhara (ICCB) in Dhaka.
Three-in-One Sourcing shows under-One-Roof related to ‘Building & Construction, Wood & Woodworking and Electrical Products & Technology’ was organised by ASK Trade & Exhibitions Pvt Ltd jointly with Futurex Trade Fair & Events Pvt Ltd.
These tradeshows in participation with more than 150 exhibitors are offering exciting sourcing options with a wide variety on display for the Building and Construction Sector, Furniture Sector and Electric Products related industry, said a media release on Thursday.
Md Shamsudduha, Additional Chief Engineer of Housing and Public Works Department, Tarun Upadhaya, Manager of Confederation of Indian Industry, Namit Gupta, Managing Director of Futurex, Tipu Sultan Bhuiyan, Managing Director of Ask Trade & Exhibitions Private Limited, Nanda Gopal Kadambi, Director of ASK Exhibitions, Prince Mohammad, Proprietor of Ali Trade International and Shamara W, Country Head of JAT Holdings Bangladesh Pvt Limited, among others were present at the event, it reads.
“Over the years the stakeholders have been using our shows to source from International Suppliers who are present in large numbers. After a gap of a few years due to pandemic, Chinese Exhibitors are back in the current edition thus providing an interesting product line to source from. We hope the combination of three shows under one umbrella provides good sourcing options for the visitors” said Tipu Sultan Bhuiyan, Managing Director of ASK Trade & Exhibitions Pvt Ltd, also an organiser of the shows.
The seventh edition of International Trade Show for the Building and Construction Industry Bangladesh BUILDCON 2023, showcasing latest innovations from overseas suppliers along with Bangladeshi companies, showcasing Architectural and Building Hardware, Locks, Fittings and Tools, Kitchen, Bathroom, Sanitary Ware, Ceramic Tiles Tapes and Sealants, EPDM Rubber and Profiles, Earthing, UPVC and Wood Doors and Windows, Geo Textiles, Batching Plant Civil & Road Concrete mixers, Construction Equipment and Machinery, is going on from Thursday, according to the release.
Bangladesh WOOD is the only focused technology and materials related trade show for the WOOD and WOODWORKING Industry in Bangladesh.
The latest edition of Bangladesh WOOD 2023 has participation from International Bangladesh suppliers showcasing Machinery, Materials, Tools, Furnishings, Mattresses and more, it said.
The participants included Particle Board Production Line, Plywood Machineries, and Bamboo Processing Machineries & Coir Board Machineries, Wooden Flooring, Laminate, Plywood, Veneer MDF and Lumber, Abrasive- Sand Paper Sheet, Wide Belt, Narrow Belt. Material Handling equipment, Hydraulic Hot Press Machine Lumber, Timber, Round Logs, Plywood, Wood Panels, Veneer Cutting Chopping Machine , Wood Coating and paints Commercial, Marine, Decorative, Blockboard BWR, BWP Plywood, Manufacture knives and Knife Edge Grinding machines, PVC/WPC Foams Boards, Doors and Frames, Products sawn timber.
The second edition of Bangladesh ELPROTECH will showcase International suppliers of Machinery, Accessories, Spares related to Electrical Products.
Visit to source from International suppliers showcasing their new innovations showcasing Fasteners ,Pumps, Cable and Conductor, Capacitors, Clips and Clamps, Electrical Insulating Products in Composites like SMC/DMC/FRP/EPOXY , & POLYAMIDE for LV/MV & HV applications, Cable Trays, Ladder Type , Cable Trays, Perforated Type Cable Tray PVC INSULATION TAPES, chemical earthing electrodes, gi earthing electrodes, copper earthing electrode, injection moulded plastic components, Cable Tie Manufacturer, Clips and Clamps, added the release.
World Bank to assist Bangladesh to improve human dev and climate resilience
Bangladesh and the World Bank on Thursday signed five financing agreements to help the country achieve resilient and inclusive growth, said a press release.
The deals involve projects on early childhood development, secondary education, riverbank protection and navigability, urban primary health, and gas distribution efficiency.
The five projects are $210-million Bangladesh Enhancing Investments and Benefits for Early Years Project, $300-million Learning Acceleration in Secondary Education Operation Project, $102- million Jamuna River Sustainable Management Project 1, $200-million Urban Health, Nutrition and Population Project and $300 million Gas Sector Efficiency Improvement and Carbon Abatement Project.
The agreements were signed by Sharifa Khan, Senior Secretary of Economic Relations Division of Government of Bangladesh and Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan, on behalf of their respective parts, according to press release of the World Bank.
The Bangladesh Enhancing Investments and Benefits for Early Years Project will help improve early childhood development by providing cash transfers and counseling services to about 1.7 million pregnant women and mothers of children under 4 years of age in vulnerable households.
The Learning Acceleration in Secondary Education Operation Project will help strengthen secondary education by improving learning outcome and teaching quality. To help recover from learning losses incurred during the COVID-19 pandemic and to improve preparedness to future shocks, the project will introduce complementary online learning blended with in-class education. To reduce dropout rates, the program will provide stipends to 8 million vulnerable students and ensure 5,000 schools have active sexual harassment and prevention committees in place.
The Jamuna River Sustainable Management Project-1 will help improve riverbank protection and navigability in the Jamuna River, protecting about 2,500 hectares of land from riverbank erosion and flooding, saving thousands of people from displacement and safeguarding their livelihoods and assets. It will improve navigation channels with adequate depth that can accommodate large cargo vessels year-round and revive inland water transport and trade.
The Urban Health, Nutrition and Population Project will improve primary healthcare services for treatment, prevention and referral for common illnesses including mosquito-borne diseases like dengue in Dhaka North and South City Corporations, Chattogram City Corporation, and Savar and Tarabo municipalities. It will also support mosquito control, medical waste management, and behavior change communication. It will help improve antenatal services for women, with a target of over 250,000 women receiving at least four checkups during pregnancy. It will support hypertension screening and follow-up of about 1.3 million adults.
The Gas Sector Efficiency Improvement and Carbon Abatement Project will help improve the efficiency of gas distribution and end-use through pre-paid metering systems and reduce methane emissions along the natural gas value chain. It will install more than 1.2 million prepaid gas meters in Dhaka and Rajshahi Division. Prepaid gas meters and advanced monitoring systems will help optimize natural gas end-use, mitigate greenhouse gas emissions and lower gas bills for households and industrial users.
“These projects will help preparing our children for a brighter future while improving resiliency to climate change,” said Abdoulaye Seck.
He said Bangladesh is an important partner for the World Bank toward its vision of a world free of poverty on a livable planet. Since the country’s independence, the World Bank and Bangladesh have had an impactful partnership that lifted millions of Bangladeshi people out of poverty, he added.
FBCCI urges NBR to extend tax return submission deadline till Dec 31
The Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), the apex organization of businessmen, has requested the National Board of Revenue (NBR) to extend the deadline for submission of income tax returns.
The federation in a letter to the NBR Chairman said that due to the late publication of income tax circulars in line with the new Income Tax Act 2023, the businessmen are not prepared to submit returns.
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So, the deadline for filing returns need be extended until December 31 this year.
The letter said due to the current political situation and upcoming parliamentary elections, many taxpayers may be able to file income tax returns by November 30.
Some other business chambers have also requested the NBR to extend the tax return submission deadline.
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The Dhaka Taxes Bar Association has demanded an extension of the return submission deadline by another two months.
Payment gateway Walletmix’s license cancelled for illegal transactions
Bangladesh Bank has cancelled the license of the payment gateway company Walletmix Limited for engaging in illegal transactions.
The Payment Systems Department of Bangladesh Bank on Monday (November 20) issued an instruction regarding the cancellation.
The Bangladesh Bank Executive Director and spokesperson Mezbaul Haque told UNB that Walletmix had made illegal transactions that were not authorized and because of this their license has been canceled.
As a result, from now on, no institution, including banks and financial institutions, will be able to transact with Walletmix.
The central bank has sent the license cancellation directive to the managing directors and chief executives of all scheduled banks, mobile financial services providers, payment system operators, and payment service providers in the country.
The payment system operator license of Walletmix has been canceled to protect customer interests under the authority of Bangladesh Payment Systems Regulations and in accordance with the terms of the license granted to Walletmix Limited, said a Bangladesh Bank notification.
Chinese company to invest $28 million in Uttara EPZ
Chinese company United Spinning and Dyeing Limited is going to invest USD 28.20 million to set up a Dyed Textile Yarn manufacturing facility in the Uttara EPZ.
Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this effect in Dhaka today (Wednesday).
Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Yu Min, Managing Director of United Spinning and Dyeing signed an agreement on behalf of their respective organizations.
The Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman, NDC, psc witnessed the signing ceremony.
Executive Chairman thanked United Spinning and Dyeing for choosing Uttara EPZ for investment. Mentioning upcoming Jashore and Patuakhali EPZ, he requested to make a plan to invest there in diversified products.
Yu Min said that it is their first project in EPZ and they have a plan to invest more. He hoped that the company would come into production within the next October.
United Spinning and Dyeing Limited will create employment opportunities for 1816 Bangladeshi nationals and produce annually 12,000 metric ton of dyed textile yarn.
HBL, Bank of China sign MoU to enhance regional trade
HBL and the Bank of China (BOC) signed a Memorandum of Understanding (MoU) for strategic cooperation at the BOC headquarters in Beijing, China.
Liu Jin, vice chairman and president of Bank of China, Sultan Ali Allana, chairman of HBL, and Muhammad Aurangzeb, president and CEO of HBL represented their respective institutions.
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The signing of the strategic cooperation memorandum signifies HBL and BOC’s commitment to drive economic empowerment and regional connectivity, said a press release.
The collaboration between HBL and BOC will facilitate Bangladeshi businesses with seamless trade opportunities, enhance their international business network, and help grow their operations locally and overseas.
Read: FICCI set to mark 60 Years with Grand Celebration
HBL and BOC will further benefit businesses operating in South Asia, Middle East, Central Asia, and Africa. Both the organisations will work to deepen strategic cooperation in the areas of Environmental, Social & Governance (ESG), technology, and training, reads the release.
Bank of China is a premier bank in China with presence in over 60 markets around the world while HBL serves over 15 global markets with dedicated China desks and branches in Beijing and Urumqi.
Walton launches two new full HD frameless monitors with IPS Panel
Walton, Bangladesh leading tech product manufacturer, has launched two new models of slim monitors equipped with IPS panels in the market.
The full HD backlight LED monitors have frameless designs in three sides. The attractively designed monitors with no bezel will provide premium feel to users, said a press release issued on Sunday.
Launched under the CiNEd brand name, the WD215I09 and WD215I10 model monitors feature
21.45-inch display, priced at Tk10,550 and Tk 9,750 both monitors have up to 3-year service warranty.
Customers can purchase the products from all Walton showrooms across the country through Walton E-Plaza (eplaza.waltonbd.com) and Digi-Tech (waltondigitech.com) websites.
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Both monitors feature 1920×1080 pixels screen resolutions with 16:9 aspect ratio and 178° wide
viewing angle for which users will get high-quality pictures from critical angles.
1000:1 contrast ratio with 249.3X241 pixel pitch and Typ.300 cd/m2 brightness have been maintained on the device for the convenience of accurate color reproduction with 83% NTSC color quality.
Users will have a pleasant experience while playing popular games due to 75 Hz refresh rate.
The new monitors have HDMI, VGA, DP, USB-C input ports so they can be easily used on all
types of modern or old computer devices.
Both monitors have two 2-watt built-in speakers for which users can enjoy the necessary audio facilities without the connection of a separate audio device.
The monitors also provide an audio out port.
Another attractive feature of the monitors is Vesa mounting option for which they can be placed
any surface including a desk or table. This feature will be helpful of official work, presentation,
meeting, gaming or studying.
Speaking on the occasion, Touhidur Rahman Rad, Chief Business Officer of Walton
Computer Products, said “We are providing our customers advanced technology products
at affordable prices and ensuring best services for them. I am confident that like our other
products, the newly launched monitors will also get excellent feedback from customers.”
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There are currently 5 models of 21.45 inch to 27-inch Walton monitors in the market which are
priced between Tk 9,550 to Tk 38,750. Besides, special discounts are being given on
specific models of monitors on online purchase from Walton official website.
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Mentionable, Walton is producing and marketing various models of laptops, desktops, all-in-one
PCs, android and windows TAB, projector, interactive display, printer, tonner, UPS, CCTV,
access control, keyboard, mouse, pen-drive, wi-fi router, network switch, USB hub, card reader,
webcam, speaker, earphone, headphone, SSD, external SSD, RAM, cooler, power supply,
PCBA, memory card, power bank, smart watch, smart fitness scale, digital writing pad, USB,
type-C, HDMI cables, converter, electric bike etc.
FICCI set to mark 60 Years with Grand Celebration
Foreign Investors’ Chamber of Commerce & Industry (FICCI) is poised to host the FICCI 60 Years Celebration & Investment Expo 2023 on Sunday at Radisson Blu Dhaka Water Garden.
The event will celebrate the 60-year journey of the organization, and the impactful contributions made by its members to Bangladesh's economic and social landscape.
The two-day event will kick off with an inauguration ceremony that will be graced by Chief Guest Honorable Prime Minister Sheikh Hasina. The day's program will include the inauguration of the expo and the launch of a Research Book “Catalyzing greater FDI for vision 2041: Priorities for building a conducive Tax system in Bangladesh” & ESG Publication "ESG Strategies and Impacts from the Members of FICCI."
Read: FICCI's 60 Years Celebration & Investment Expo 2023 rescheduled on Nov 19
Naser Ezaz Bijoy, President of FICI, expressed anticipation for the upcoming milestone, stating, "As we stand on the eve of celebrating 60 years of FICCI's remarkable journey, the event is poised to serve as a platform to showcase the reflections of Bangladesh's economic growth.”
Following the inauguration, a plenary session on "Green Value Chain" will take place, featuring Chief Guest Abul Kalam Azad, Co-Chair Smart Bangladesh Network and Former Principal Secretary, Former Principal Coordinator (SDGs), Prime Minister’s Office and Keynote Speaker Professor Imran Rahman, Vice Chancellor, University of Liberal Arts Bangladesh.
The session, moderated by Zaved Akhtar, Director & Chair ESG Committee FICCI, will include panel speakers Barrister Nihad Kabir, Chairperson, BUILD, and former president of Metropolitan Chamber of Commerce, Mohsina Yasmin, Executive Member-3 (International Investment Promotion), Bangladesh Investment Development Authority (BIDA), Barrister Md. Sameer Sattar, President, Dhaka Chamber of Commerce & Industry (DCCI), Stefan Liller, UNDP Resident Representative and Yasir Azman, CEO, Grameenphone.
The second day of the event will see a plenary session on "Investment Climate: Current Landscape & Mission 2041". Md Tofazzel Hossain Miah, Principal Secretary to HPM, will serve as the Chief Guest, with Keynote Speaker Dr. M. Masrur Reaz. The session, moderated by Rupali Haque Chowdhury, Managing Director, Berger Paints Bangladesh, Former President of FICCI, will feature panelists Tapan Kanti Ghosh, Senior secretary, Ministry of Commerce; Saiful Islam, President, MCCI; Yuji Ando, Country Representative, JETRO Dhaka and Samsoo Kim, Trade Representative (Director General), Commercial Section Embassy of the Republic of Korea, Dhaka Korea Trade Center.
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The Investment Expo 2023 on November 19 will host 40 stalls with exhibitors from FICCI members and government stakeholders, targeting both local and foreign investors. The Investment Expo will continue on November 20, which will be open for all.
BIDA and the Commerce Ministry are the Strategic Partner of FICCI 60 Years Celebration & Investment Expo 2023.
Sylhet Chamber organises workshop on online tax returns by TAXdo software
The Sylhet Chamber of Commerce & Industry (SCCI) on Thursday organised a workshop on 'Fundamentals of Personal Income Tax and Returns Filing through TAXdo' online.
Experts at the workshop explained the process of filling out individual income tax returns online by ‘TAXdo’ application.
The SCCI organised the programme in association with the Sylhet District Tax Bar Association and SMAC IT Limited, which has developed TAXdo.
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SCCI President Tamim Ahmed presided over the programme. Syed Zakir Hossain, Commissioner of Sylhet Tax Zone, was present as the guest of honour.
Snehasish Barua FCA, the Director of SMAC IT Ltd, explained the app's transformative capabilities and impact.
Regarding 'TAXdo', he said that through this software, anyone can fill out income tax returns online within a few minutes at home. It is a fully automated system, which allows anyone to easily prepare income tax returns as per rules based on inputs.
“TAXdo automatically calculates income tax when users simply input their income from various sources into the software,” he said.
President of SCCI Tamim Ahmed said that Sylhet region is populated by expatriates, the flow of remittances is high and people have money in their hands. Therefore, the possibility of tax collection is also high. But due to the lack of tax awareness and the complexity of the existing tax payment process, many people do not pay taxes.
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He called the NBR to make the process of personal tax payment easier and to increase tax awareness to encourage common people to pay taxes to increase revenue.
SCCI’s Senior Vice President Falah Uddin Ali Ahmed and Chamber VAT, Tax and Tariff Committee Co-Chairman Mohammad Tofazzal Hossain FCA, Sylhet District Tax Bar Association President M. EM Iqbalur Rahman and Vice President Advocate Abdul Alim Pathan, Vice President of SCCI Atiq Hossain, among others, spoke in the function.
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Peaceful working environment is prevailing in factories: BGMEA
President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan in a statement on Wednesday said that the factories are in full production and a peaceful working environment is prevailing.
He thanked workers, labor organizations, local political leaders, administration, industrial police, mass media, and local people for their sincere cooperation in restoring a peaceful environment in all areas where the garment factories are situated.
All the garment factories in Ashulia were opened on Wednesday after the workers of the closed garment factories expressed their interest in returning to work and after the assurance of the owners about the smooth functioning of the factories, said the BGMEA president.
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Production is going on normally in the factories, the BGMEA President said.
The opening of the closed factories in Mirpur area was discussed yesterday (November 14) and today (November 15).
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In the two-day discussion, the factory workers, workers' organizations, local political leaders, administration, industrial police, and mass media said that the workers of the closed factories in Mirpur want to return to work. Therefore, the closed garment factories of Mirpur and all other places will be opened on Thursday.
Every entrepreneur is committed to implement the new wage structure from December 1, 2023, he said.
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