BEPZA expects proposals for $1b investment in EPZs this fiscal
Wednesday, 24 October 2007
FE Report
The Bangladesh Export Processing Zones Authority (BEPZA) expects investment proposals worth $1.0 billion in the country's export processing zones (EPZs) in the current fiscal as it has ensured workers' welfare and created more facilities for the investors.
"We have already signed investment proposals worth $380 million after the investors deposited a handsome amount of money as security," Brig Gen Ashraf Abdullah Yussuf, executive chairman of BEPZA, told journalists at a press conference in the city Tuesday.
Prasanto Bhuson Barua and Md Farhad Uddin, members, Lt Col Md Tawfiq-E-Elahi, general manager for security and AZM Azizur Rahman, general manager for investment promotion, of BEPZA, among others, were also present at the press conference.
The BEPZA executive chairman said in fiscal 2006-07 it received investment proposals worth $ 566 million or 270 per cent higher than that of the previous fiscal. Of which, investment proposals of $152 million were materialised, marking 35 per cent growth over that of fiscal 2005-06.
Following such a robust growth in investment in the country's EPZs, the BEPZA executive chairman said some vested quarters are hatching conspiracy to create unpleasant incident and retard the flow of investment.
He also blamed a section of the media for mysteriously exaggerating the incidents in the EPZs.
"Discord of workers over selecting the menu for snacks by any particular factory cannot be termed as unrest of the whole sector," Yussuf said.
Workers' Representation Welfare Committee has already been formed to ensure welfare of the workers in the EPZs, he said, adding referenda have also been held to help formation of workers' association in the factories in the EPZs.
Replying to a question, Yussuf said BEPZA closely monitors the companies in the EPZs in order to check harassment of workers.
Regarding a local NGO's negative report despite growth in investment, he said the particular NGO has expressed its regret for misinformation in the report and sent correct information to the media.
He said modifications of BEPZA rules and regulations are under way to protect the interests of and ensure more benefits to, the workers.
In case of non-payment of workers' salary by any particular company, Yussuf said BEPZA can cancel its export permit.
Replying to a question whether BEPZA cancelled any company's export permit during the last one year, Yussuf said there was no such incident as the companies are paying salaries regularly.
Currently, there are 0.2 million workers in the EPZs, he said and added this will stand at 0.4 million when all EPZs will start operation.
The Bangladesh Export Processing Zones Authority (BEPZA) expects investment proposals worth $1.0 billion in the country's export processing zones (EPZs) in the current fiscal as it has ensured workers' welfare and created more facilities for the investors.
"We have already signed investment proposals worth $380 million after the investors deposited a handsome amount of money as security," Brig Gen Ashraf Abdullah Yussuf, executive chairman of BEPZA, told journalists at a press conference in the city Tuesday.
Prasanto Bhuson Barua and Md Farhad Uddin, members, Lt Col Md Tawfiq-E-Elahi, general manager for security and AZM Azizur Rahman, general manager for investment promotion, of BEPZA, among others, were also present at the press conference.
The BEPZA executive chairman said in fiscal 2006-07 it received investment proposals worth $ 566 million or 270 per cent higher than that of the previous fiscal. Of which, investment proposals of $152 million were materialised, marking 35 per cent growth over that of fiscal 2005-06.
Following such a robust growth in investment in the country's EPZs, the BEPZA executive chairman said some vested quarters are hatching conspiracy to create unpleasant incident and retard the flow of investment.
He also blamed a section of the media for mysteriously exaggerating the incidents in the EPZs.
"Discord of workers over selecting the menu for snacks by any particular factory cannot be termed as unrest of the whole sector," Yussuf said.
Workers' Representation Welfare Committee has already been formed to ensure welfare of the workers in the EPZs, he said, adding referenda have also been held to help formation of workers' association in the factories in the EPZs.
Replying to a question, Yussuf said BEPZA closely monitors the companies in the EPZs in order to check harassment of workers.
Regarding a local NGO's negative report despite growth in investment, he said the particular NGO has expressed its regret for misinformation in the report and sent correct information to the media.
He said modifications of BEPZA rules and regulations are under way to protect the interests of and ensure more benefits to, the workers.
In case of non-payment of workers' salary by any particular company, Yussuf said BEPZA can cancel its export permit.
Replying to a question whether BEPZA cancelled any company's export permit during the last one year, Yussuf said there was no such incident as the companies are paying salaries regularly.
Currently, there are 0.2 million workers in the EPZs, he said and added this will stand at 0.4 million when all EPZs will start operation.