Friday, May 6, 2011

End the FDI, says Bangladesh's apparel industry

Bangladesh garments manufacturers and exporters Association (BGMEA), industry, the tip of the trade, for the purpose of the tax relief is also worshipped.

"Please, we do not want to remain in the area of FDI clothing. Local manufacturers are not able to compete with foreign manufacturers. Because, unlike the local manufacturers of aliens to receive the tax benefits of the holiday and all service fees, including power, gas and water, the export of industrial areas, such as "BGMEA President Shafiul Islam Mohiuddin said pre-budget meeting with the national Government and the revenue (NBR).

BGMEA leaders submitted proposals to the Chairman of the NBR Nasiruddin Ahmed of the next national budget in the new age newspaper reported.

The local clothing manufacturing units are involved in 92% of the clothing that the President of the country of export, the BGMEA said.

Garment exports, a profit margin is also reduced by 30-35% to 42% growth in exports, despite the current financial year, during the first eight months, because the banks are charging 15-17% of industry interest, he added.

Body demanded sales tax holiday and other facilities, to reduce the foreign and local entrepreneurs a huge disparity between.

In the last three decades, developed a number of premium content providers of apparel industry has attracted foreign investment in South Korea, Taiwan and Japan, among other things, that set up the units with advanced computer.

With the knitwear garments industry content providers, earned USD 12 billion last year.

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