The shift in consumer demand for ecofriendly products is driving the demand for
globally. Combined with Bangladesh’s inherent expertise in cultivating and
processing jute along with
supportive government policies, there is a great opportunity for further
investments in the sector.
Bangladesh has a rich and diverse agricultural heritage thanks to its fertile land
diversity. Tossa jute, produced in Bangladesh is considered to be the finest
- Jute was cultivated over 7.5 hectares of land, 10% of the
country’s agricultural area
The country is blessed with over 200 rivers and waterways for processing raw
jute combined with inexpensive water transport, good rail and road network.
Bangladesh has a large mix of semi-skilled and skilled human resources available.
Many public and
private universities offer courses in textile and design while there are scientist
institutes conducting regular research on the potential of jute.
|A company engaged in the
production of jute products will pay income tax at
the rate of 10%
|The maximum tax rate for
taxpayers other than companies will be 10%.
|Reduced rate of TDS or
withholding tax (Tax Deducted at Source): From
earnings tax will be deducted at
0.5% rate, which is generally 1.0%.
cash incentive for exporting diversified jute
product. Diversified jute
products mean any products that has more than
Jute, except Hessian, Sacking, Carpet
Backing Cloth (CBC), six or more count jute fiber.
cash incentive for exporting jute made
final goods (Hessian, Sacking,
cash incentive for exporting jute fibers
(Yarn and Twine).
Export subsidy against export of carbon and
jute particle board produced
With growing demand for ecofriendly products, the demand for
products made of jute are growing worldwide. The government of Bangladesh is
encouraging production of
various diversified jute products through numerous fiscal as well as non-fiscal
incentives such as
Investors have ample opportunity to increase exports in jute-based products such as
- Home décor products such as rugs, mats, carpets and floor covering;
- Jute furniture
- Packaging items such as shopping bags, sacks and bags;
- Automobile accessories such as dashboards, door panels, etc.
- Jute stick