Industries Minister Nurul Majid Mahmud Humayun has assured the allotment of land for setting up a jewellery industry in Bangladesh Small and Cottage Industries Corporation (BSCIC) Industrial City.
He said, a new BSCIC industrial city has been built one hour away from Dhaka. It is a beautiful place next to the Dhaka-Sylhet highway. The industrial factories that are currently in Tantibazar can move there.
He said these things during a meeting with a delegation led by Ripnul Hasan, Vice President of Bangladesh Jewelers Association (BAJUS). Zakia Sultana, senior secretary of the Ministry of Industry, was present on the occasion. In the meeting, Bajus made 8 proposals.
Industries Minister Nurul Majid Mahmud Humayun said, "We have heard the demands made by BAJUS on Wednesday and in this context we will take a timely plan. Our government is a business friendly government.”
Acknowledging the significance of the jewelry industry and its reliance on imports, the Minister highlighted the government's willingness to engage with the National Board of Revenue to discuss issues related to Value Added Tax (VAT) and taxes on gold imports. He emphasized that the government is business-friendly and aims to create an environment conducive to the growth of industries.
Minister Humayun recognized the import-dependent nature of the jewelry sector and underscored the potential for cost-effective production in Bangladesh due to the availability of cheap labor. He expressed optimism about the country's ability to compete in the global market, citing the presence of other countries, including India, as opportunities for growth and collaboration.
In a move to ensure transparency and prevent illegal practices within the industry, the Minister proposed joint efforts between the Bangladesh Jewellers Samity and the Bangladesh Standards and Testing Institution (BSTI). He suggested the implementation of regular product testing using certified weighing machines to prevent unauthorized weight manipulations by jewelers.
