Akij Jute Mills Ltd has proclaimed the prospect to make $83.06 million in 10 years from the overseas purchase of Malaysian fibreboard manufacturing firm Robin Resources and its subsidiary Robina Flooring. The Financial Institutions Division is likely to send the PEC report to the cabinet committee on economic affair for its consent today. The PEC recommendation was passed by the committee’s Executive Director Ahmed Jamal. Under the Foreign Exchange Regulation Act, overseas investment is not permitted for resident Bangladeshis. If the Akij Group investment comes through, it will break open new grounds in foreign trade for the country.

Source: Dhaka Tribune October 24, 2017 19:41 UTC