Bangladesh has introduced significant tax incentives for its semiconductor sector, exempting nearly all duties and taxes on key imports—except a 1% standard import duty. This initiative is part of a strategy to position the country as an emerging player in the global chip industry by emphasizing design, testing, and assembly. The tax relief aims to lower production costs for local companies, attract foreign investment, and support a technology-driven manufacturing ecosystem. Currently, the semiconductor sector employs around 1,200 engineers and generates annual revenues between $12 million and $15 million, with plans to increase these figures substantially by 2030. The Bangladesh Semiconductor Industry Association targets the production of 10,000 skilled professionals and an industry revenue exceeding $1 billion by 2030, emphasizing the need for technical education and international partnerships. With global demand for semiconductors rising, Bangladesh hopes these incentives will attract multinational companies while bolstering local firms. This initiative is seen as a vital step toward transforming Bangladesh into a regional technology hub within the next decade. (ICE NEW DELHI)

Fonte notizia: Chronify