BEPZA achieves significant growth in employment, investment, export
Tuesday, 24 May 2011
Badrul Ahsan
Bangladesh Export Processing Zones Authority (BEPZA) has achieved significant growths in employment, investment and export during the first 10 months of the current financial year (FY) 2010-2011. According to the statistics of BEPZA, it has achieved an astounding growth of 93.2 per cent in employment, 30 per cent growth in export and 22.71 per cent growth in investment over the same period of the previous fiscal year. The statistics also shows a massive 78 per cent growth in investment proposals in the same period. Garment, fabric, shoe, Jewellery items and barbed ware producing companies are among the aspirant entrepreneurs. "Government incentives and vigorous effort of BEPZA have encouraged the investors to make investments in the EPZs," General Manager (Investment Promotion) of BEPZA, AZM Azizur Rahman said. "Cheap, highly productive and trained workforce has also prompted the foreign investors to reassess their investment strategies and plan for relocating their investments in Bangladesh," Rahman added. The enterprises of the EPZs have employed some 36,964 local people up to April, 2011, in the current FY which was 19,132 in the same period of last FY. Nearly 0.3 million personnel have been employed in the EPZs so far; of which, 64 per cent are women. Besides, BEPZA data shows that it has achieved a 30 per cent growth in exports over the 10 months of 2010-2011 FY. It has exported goods worth nearly $3.00 billion up to April this year which was US$ 2.26 billion during the same period of the last FY. The total amount of actual investments in BEPZA as on April 30, 2011, stood at $194.02 million which is 22.71 per cent higher than that of the investment made in the same period of the previous FY. Proposed investments in BEPZA marked 78 per cent growth. The total amount of proposed investment in the current FY is US$ 5.11 billion where as it was $2.87 billion during the last FY. Classic Textiles Ltd., a joint venture company of Hong Kong and India has invested $50.127 million in Adamjee Export Processing Zone (AEPZ) in the current FY, aiming to produce different types of fabrics and garments. A total of 5,390 local people have been employed in the factory. Raymond group from India, MS Renaissance Jewellery Ltd, an India-based company, MS Al-Daud Eng Pvt Ltd, a Saudi-Bangla joint venture company, Soorty Group, a Pakistan-based company, Rieker, a Switzerland-based company and Kone, a Hong Kong- based company are among the prospective companies who are eager to set up industries in the EPZs.
Bangladesh Export Processing Zones Authority (BEPZA) has achieved significant growths in employment, investment and export during the first 10 months of the current financial year (FY) 2010-2011. According to the statistics of BEPZA, it has achieved an astounding growth of 93.2 per cent in employment, 30 per cent growth in export and 22.71 per cent growth in investment over the same period of the previous fiscal year. The statistics also shows a massive 78 per cent growth in investment proposals in the same period. Garment, fabric, shoe, Jewellery items and barbed ware producing companies are among the aspirant entrepreneurs. "Government incentives and vigorous effort of BEPZA have encouraged the investors to make investments in the EPZs," General Manager (Investment Promotion) of BEPZA, AZM Azizur Rahman said. "Cheap, highly productive and trained workforce has also prompted the foreign investors to reassess their investment strategies and plan for relocating their investments in Bangladesh," Rahman added. The enterprises of the EPZs have employed some 36,964 local people up to April, 2011, in the current FY which was 19,132 in the same period of last FY. Nearly 0.3 million personnel have been employed in the EPZs so far; of which, 64 per cent are women. Besides, BEPZA data shows that it has achieved a 30 per cent growth in exports over the 10 months of 2010-2011 FY. It has exported goods worth nearly $3.00 billion up to April this year which was US$ 2.26 billion during the same period of the last FY. The total amount of actual investments in BEPZA as on April 30, 2011, stood at $194.02 million which is 22.71 per cent higher than that of the investment made in the same period of the previous FY. Proposed investments in BEPZA marked 78 per cent growth. The total amount of proposed investment in the current FY is US$ 5.11 billion where as it was $2.87 billion during the last FY. Classic Textiles Ltd., a joint venture company of Hong Kong and India has invested $50.127 million in Adamjee Export Processing Zone (AEPZ) in the current FY, aiming to produce different types of fabrics and garments. A total of 5,390 local people have been employed in the factory. Raymond group from India, MS Renaissance Jewellery Ltd, an India-based company, MS Al-Daud Eng Pvt Ltd, a Saudi-Bangla joint venture company, Soorty Group, a Pakistan-based company, Rieker, a Switzerland-based company and Kone, a Hong Kong- based company are among the prospective companies who are eager to set up industries in the EPZs.