Tuesday, February 17, 2009
Dhaka: Dhaka clearly realises the growing potential of shipbuilding and is keen to nurture this rare heavy industry in the south Asian nation that has yielded more than $600m in orders in the past couple of years. The Bangladeshi government will institute a five year tax break on the sector.
"We've decided in principle that the emerging shipbuilding sector should get tax-holiday facility. We will make recommendations so that the government can act fast," the Financial Express newspaper quoted National Board of Revenue chairman Abdul Mazid as saying. The tax break is aimed at export vessels.
For a comprehensive overview of the progress of Bangladesh's nascent shipbuilding industry Germanischer Lloyd's latest issue of 'nonstop' carries a very good report downloadable at the following address: http://www.gl-group.com/en/6595.php [17/02/09]