The government has approved six months of duty and tax relief on imports of equipment and parts for solar power plants to boost renewable energy development.

The decision was approved at the cabinet’s 20th meeting, held at the parliament on Monday, according to a Cabinet Division media statement.

Under the measure, specified equipment imports will be exempt from most duties and taxes for six months.

The cabinet has also approved a proposal to sign an Investment Promotion and Protection Agreement with Hong Kong to boost investment from the territory and ensure greater security and protection for investors from both sides.

The agreement will establish an institutional framework to facilitate increased foreign investment flows between Bangladesh and Hong Kong once it comes into force, according to the Cabinet Division.