EPZ export earnings rise 23 pc

Shah Alam Nur | Published: March 07, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

Shah Alam Nur
Earnings from eight export processing zones (EPZs) have marked a 23 per cent increase in the first seven months of the current financial year as investments continue to pour in to the zones due to political stability, officials said Saturday. The EPZs have earned US$2.0 billion between July and January, up from $1.53 billion during the same period last fiscal year, director of Bangladesh Export Processing Zones Authority (BEPZA) AZM Azizur Rahman said. He said most of the 283 companies operating in the EPZs have ramped up production and recruited more workers to cope with increased orders from the western retailers. "We think political stability in the last couple of years have prompted the companies to reinvest in their ventures. The overall power situation has also improved during the last few months," he told the FE. The eight EPZs built up from early 1980s, account for about 19 per cent of the country's total export earnings. Their export growth, however, fell short of the country's overall 41 per cent shipment expansion during the period. Chittagong Export Processing Zone (CEPZs) was the highest earner among the zones, aggregating Tk 52.0 billion (Tk 5200 crore) during July-December period of the current 2010-11 fiscal year. Mr. Rahman said the BEPZA has unveiled a series of new programmes to attract investments in the country's EPZs although most of which are already filled up with foreign and local-owned factories. He said quite a few plots are available in the Nilphamari, Ishwardi and Mongla EPZs. But many investors are not keen to set up industrial plants there due to an acute crisis of gas. He added power situation in the EPZs has improved after the BEPZA set up several power plants in the zones and also made arrangement for alternative generators. According to the latest count, the Chittagong EPZ has 140 industrial units, Dhaka 96, Comilla 18, Mongla 12, Uttara five, Adamzi five, Karnafuli four and Iswardi three units. The BEPZA director expressed the hope export earnings would surpass the target of $3.0 billion in the current fiscal.