Investment under the Bangladesh Export Processing Zone Authority (BEPZA) increased around three times during the last 10 years due to the government’s business-friendly initiatives.
According to the BEPZA, the flow of investment increased to US$ 4,724.92 million in August 2018 while it was US$ 1509.14 million in December 2008.
“Due to different measures taken by the BEPZA, the flow of investment in the country’s eight Export Processing Zones (EPZs) showed an upward trend in the last couple of years,” BEPZA General Manager Nazma Binte Alamgir told BSS.
She said a total of 476 industries under the eight EPZs also made better performance in the fields of export and employment generation as the two components increased 2.5 times and two times respectively in the last 10 years.
BEPZA officials said the total amount of export in the EPZs increased to US$ 50,221.30 million in August 2018, which was US$ 17,598.24 million in December 2008.
Besides, they said, industries of the EPZs created employment opportunities for nearly three lakh Bangladeshi people during the period.
Nazma said BEPZA is moving forward achieving the Vision-2021 and Vision-2041 under the leadership of Prime Minister Sheikh Hasina.
Official data shows that the cumulative investment stands at US$ 1,643.02 million in Chittagong EPZ up to June 2018 while US$ 1,360.81 million in Dhaka EPZ, US$ 315.51 million in Comilla EPZ, US$ 59.01 million in Mongla EPZ, US$ 159 million in Uttara EPZ, US$ 136.77 million in Ishwardi EPZ, US$ 471.70 million in Adamjee EPZ and US$ 535.03 million in Karnaphuli EPZ.
In order to stimulate rapid economic growth of the country, particularly through industrialisation, the government has adopted an ‘Open Door Policy’ to attract foreign investment to Bangladesh. The BEPZA is the official organ of the government to promote, attract and facilitate foreign investment in the EPZs.
BEPZA as the competent authority performs inspection and supervision of the compliances of the enterprises related to social and environmental issues, safety and security at workplaces aiming to maintain harmonious labour-management and industrial relations in EPZs.
The primary objective of an EPZ is to provide special areas where potential investors would find a congenial investment climate. BEPZA is working to strengthen the economic-base of Bangladesh through industrialisation, promotion of investment, increasing export and generation of employment in the EPZs.-BSS