BD mulling policy incentives in ICT sector: Minister

Bangladesh is considering a competitive tax regime and other policy incentives to attract South Korean investment in the information and communication technology (ICT) sector and smart device manufacturing, says Posts, Telecommunications and Information Technology Minister Faqir Mahbub Anam.

"The government is working to make the country more attractive for foreign investment by considering a competitive tax regime, necessary incentives, and policy support," he said during a meeting with South Korean Ambassador Kim Ji-joon at the Bangladesh Secretariat in the capital on Monday.

According to a ministry press release, the minister said the government considered mobile phone manufacturing and the technology industry as priority sectors and would extend the necessary policy support to strengthen local production, create employment, and enhance the country's technological capabilities.

He said the government's long-term objective was to establish Bangladesh as a leading regional hub for smart device manufacturing and technology investment.

Anam also said Prime Minister Tarique Rahman was committed to ensuring that affordable smartphones and digital services reached people across the country, including those in remote areas.

Alongside expanding digital connectivity, the government was working to make smart devices more affordable and accessible, he added.

Responding to proposals from the South Korean side, Anam said the government was simplifying visa procedures for foreign investors and businesspeople and would undertake further policy reforms to make investment and business operations in Bangladesh easier.

Ambassador Kim welcomed Bangladesh's investment potential and proposed a longer-term, more streamlined visa regime for foreign investors, saying such measures would further strengthen the country's investment climate and encourage greater foreign direct investment.

Both sides expressed optimism about expanding bilateral cooperation in areas of mutual interest and implementing joint initiatives in the future.

Posts and Telecommunications Division Secretary Bilquis Jahan Rimi, First Secretary at the Korean Embassy Lee Namsoo, and Samsung Electronics Country Manager Jungmin Jung were also present at the meeting.

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