Fair Electronics has won the President's Industrial Development Award.  Fair Group Director Mutassim Daiaan received the award from Industries Minister Nurul Majid Mahmud Humayun at a ceremony in Dhaka Thursday. Twenty industrial companies received the award in six categories for their contribution to the economy, including setting up of industries in the private sector, production of goods, and employment generation. The industries minister distributed the awards on behalf of President Abdul Hamid.  Fair Electronics secured the first position in the hi-tech industry category.  Read more: Pran-RFL scoops up Bangladesh Business Awards 2021 State Minister for Industries Kamal Ahmed Majumder and Federation of Bangladesh Chambers of Commerce and Industry President Md Jasim Uddin were present at the event. Fair Electronics has established its industrial factory at Shibpur, Narsingdi. They are producing smartphones and consumer electronics products for Samsung.

Bangladesh Chamber of Industries (BCI) has said that the present tax system is not in favour of industrial development. Loss in business is not considered during tax fixation, gross profit is considered sector wise which is not reasonable, said its President Anwar-ul Alam Chowdhury (Parvez) while addressing at the organisation’s 36th annual general meeting (AGM) 2021-2022 at its board room on Tuesday. Read more: 1.16cr citizens known to have taxable incomes, but majority don't file returns Senior Vice-president Priti Chakraborty, Vice-President Shahidul Islam Niru, directors and many members were present in the meeting. The BCI president said that for the crises of Corona and Ukraine War, about 40% of SMEs have dropped out because they are not resilient to survive. “We have to come forward to protect them,” he said, adding with the increasing unemployment, lack of skilled labour is also increasing. He also urged all to be economical in using electricity, gas and water etc.        He said to solve this problem BCI has signed an MoU with the SME foundation to create new entrepreneurs and small industries all over the country and solve their problems. He said all are expecting and trying to bring the rate of poverty to zero by 2030 and the country will be transferred into a developed one by 2041. Read more: 5th BMCCI LegalTalk seminar on tax law, foreign investment held He urged all directors and members of BCI to take the challenges of 4IR and work together to face it. He said the BCI has to work unitedly and being the sole and exclusive chamber it has to play an appropriate role to remove all sorts of obstacles and impediments for the development of local industries all over the countries. BCI will continue its efforts to create new entrepreneurs, light engineering and agro based industries. The country is advancing despite the Corona and Ukraine crisis. Taking part in the discussions some of the members focused on the development and promotion of micro, small, cottage and light engineering, agro based industry sector, one-stop service in industry sector and different issues of problems of  financing. 

A total of 184 industrial establishments got registered with the Bangladesh Investment Development Authority (BIDA) in three months, from April to June this year. The total amount of the proposed investments of the establishments is some Tk14,128 crore, which is much higher than the investment proposal of Tk5,684 crore in the same period of 2020. Also read: BIDA, DCCI sign MoU for integrating services with OSS Only 46 industrial establishments got registered with the BIDA during April-June 2020 due to the fallout from the Covid-19 pandemic, according to the Press Information Department. The BIDA, the principal private investment promotion agency, provides diversified promotional and facilitating services to accelerate the country's industrial development. Also read: Bangladesh to continue to grow over next 30 yrs: BIDA