BIDA, BUILD suggest tax incentives for research, development

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Online Desk: Bangladesh Investment Development Authority (BIDA) and Business Initiative Leading Development (BUILD) have suggested for tax incentives in the research and development (R&D) sector for accelerating the country’s economic activities. They made the suggestion while BUILD Trustee Board Members, led by BUILD Chairperson Abul Kasem Khan, called on BIDA Executive Chairman Md Sirazul Islam at his office on Wednesday, said a press release today. Sirazul Islam said policy continuity and policy stability are very important for investors and investment climate. He suggested that there is a need for sectoral database within the country as well as better information on the specific investment needs of different countries that are prospective sources of investment. Referring to the Business Licensing Guide Book, he suggested publishing an online version of the book besides the print version. AK Khan said since R&D underpins for future prosperity, the government should consider tax incentives for companies on R&D, innovation, training and skills development initiatives so that they invest and develop local resources and products. “We need to develop new areas of competitive advantage for Bangladesh to harness its investment attractiveness,” he added.

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