Bangladesh offers tax break to RI investors
Bangladesh offers tax break to RI investors
JAKARTA (JP): Visiting Bangladeshi Minister of Textile
Industries Abdul Mannan pledged here yesterday to offer a 12-year
tax holiday to Indonesian investors who establish industrial
projects in his country.
After paying a courtesy call on President Soeharto at Merdeka
Palace, Mannan told reporters that the Bangladeshi government is
offering the tax break so that Indonesia will relocate its
textile plants and invest in various sectors in Bangladesh.
Indonesia, which has comparative advantages in its textile
industry, will have a better chance of establishing textile
plants in Bangladesh than in other developing countries, Mannan
stressed.
Mannan, who was leading a Bangladeshi trade mission to
Indonesia, ended his four-day visit yesterday. Earlier he met
with Coordinating Minister for Industry and Trade Hartarto and
State Minister of Investment/Chairman of the Investment
Coordinating Board Sanyoto Sastrowardoyo.
"We are inviting Indonesian companies to run businesses in
Bangladesh," he said.
He said Soeharto promised to promote Indonesian investment in
Bangladesh and encourage cooperation in the production of textile
machinery and products.
Mannan said the President reacted with great interest to the
invitation written by Bangladeshi Prime Minister Begum Khaleda
Zia to promote economic cooperation between the two countries.
He said the prime minister also invited the President and
first lady Tien Soeharto to visit Bangladesh this year.
Suara Pembaruan daily reported yesterday that Bangladesh has
shown interest in investing in the carpet industry here.
The newspaper quoted Soesanto Sahardjo, an advisor to the
minister of industry, as saying that his ministry will support
Bangladeshi investment, considering that raw materials for the
carpet industry are readily available in Indonesia.
The carpet industry will use jute as its raw material.
Both countries are committed to sending officials to each
other's capitals in the future to follow through on plans to
improve trade and investment cooperation. (fhp)