Regional & International Economy

The World Bank on Friday approved US$250 million to help Bangladesh for creating more, better and inclusive jobs and effectively respond to the COVID-19 pandemic for a faster recovery and stronger resilience in future crises.

Bangladesh and Vietnam out of six Asian frontier markets are expected to remain among the fastest-growing world economies in 2021.The Washington-based International Institute of Finance (IIF) has made this update on its outlook for frontier Asian economies, assessing their key risks recently.

Despite the COVID-19 pandemic, revenue collection from the brick kilns under Jashore Customs, Excise and VAT Commissionerate witnessed a 300 percent growth during this July-February period of the current fiscal year (FY21).

Bangladesh needs to improve infrastructure and standard of education, equip the youth population with market-oriented skills and uproot corruption to become a high-income country, experts say.

The Bangladesh Investment Development Authority (BIDA) has allowed repatriation of outward remittance up to 6.0 per cent of the previous year’s sales value, for companies in commercial operation, without its approval to facilitate foreign investors.

Asian markets were mixed Tuesday as investors struggled to build momentum following recent sell-offs owing to long-running fears that the expected global recovery will force central banks to wind down their easy-money programmes earlier than hoped.

The Institute of Chartered Accountants of Bangladesh (ICAB) today urged the government to impose fine, scrap tax and bond facilities of those firms which are recruiting foreign nationals without the approval of the concerned authority.

Commerce Minister Tipu Munshi today said the state government of Mizoram wants to establish border huts and land port along border to boost trade as well as commerce and improve the communications system with Bangladesh.

Value-added tax at the rate of 15 per cent will be applicable on fees and charges collected against various export-import permits and clearance certificates mainly issued by the Plant Quarantine Wing of the Department of Agricultural Extension under the agricultural ministry.

Remittance earnings declined in such countries where expatriates were in more trouble and most lost their jobs