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Date: 15th May 2023
The Director (Commercial)
Bangladesh Investment Development Authority (BIDA)
Prime Minister's Office
People’s Republic of Bangladesh
E-6/B, Agargaon, Sher-e-Bangla Nagar,
Dhaka 1207, Bangladesh.
Subject: Application for Waiver of Condition no. 8 of BIDA Branch Office permission letter.
Dear Sir,
We are very pleased to introduce ourselves that SANYO ENGINEERING & CONSTRUCTION INC. is a Japan-based company set up a Branch office in Bangladesh by taking permission from your office (BIDA Permission Ref No: OPE-23Feb2023-00002) effect from 20.03.2023.
I would like to inform you that, Sanyo Engineering & Construction Inc. (Branch Office) is working with TOA Corporation (BSEZ Electrical Support Service Maintenance and Land Development Project of BSEZ Under FDI promotion Project); Ship Aichi Medical Service Limited; Embassy of Japan Bangladesh TOWA Personal protective Device Bangladesh Ltd.; Bangladesh Honda Private Ltd. Shimizu Corporation; OSJI Joint Venture.
It is mentionable that Sanyo Engineering & Construction Inc. (Branch Office) is earning profit locally and the necessary expenditure of the company in Bangladesh is settling with that profit. As per condition no. 8 of the permission letter, outward remittance of any kind from Bangladesh sources will not be allowed. But the headquarter of Sanyo Engineering & Construction Inc. (Branch Office) is willing to take the profit which is generated by the Branch Office. Besides Sanyo Engineering & Construction Inc. (Branch Office) needs to do L/C-related payments for importing capital machinery and raw material.
Hence, we need the waiver of condition no. 8 of the BIDA Branch Office permission letter.
Therefore, it is highly requested to send take the necessary action to provide the approval of waiver of condition 8 in pursuance to condition 9 of the permission letter.
Sincerely yours,
🗸
_______________
Yuichi Akagi
Country Manager
SANYO ENGINEERING & CONSTRUCTION INC.
(Bangladesh Branch Office)
Attachment:
1. Forwarding letter; 2. Audit report; 3. Acknowledgment receipt of return of income; 4. Bank Statement of the FY; 5. Encashment certificate (all); 6. Agreement with vendor (Proving the source of income); 7. Office permission (All); 8. Approval letter of BIDA waiver condition 7; 09. TIN; 10. 18B intimation.