BEPZA's wrong move
Wednesday, 29 April 2009
M. T. Madar
While reading an article in the national daily recently I noted that Bangladesh Export Processing Zones Authority (BEPZA) has issued notices to the foreign investors who are building their factories at the Karnaphuli Export Processing Zone (EPZ).
The article also mentioned that the Food Department earlier owned the land which, through an official process was handed over to BEPZA. Now Food Dept. needs that land; hence, the BEPZA has served notice upon the foreign investors to stop work.
I find it a suicidal move by the BEPZA. Not only will these investors be annoyed and effected, the future of foreign direct investment (FDI) will diminish. They will also claim huge compensation.
Since the Food Dept and the BEPZA are our internal matters, I am sure that the ministry of commerce, food and land should come forward to resolve it by giving alternate land to the Food Dept. without effecting the foreign investors. It is not a very difficult situation. It can be resolved if we have have the will to do it.
In these difficult economic conditions, we should strive to be attractive to the foriegn investors in setting up their units in Bangldesh so that our trade and commerce continue to move forward.
It is our fervent appeal to the ministries concern to see that the BEPZA change its stand immediately for the betterment of the country.
While reading an article in the national daily recently I noted that Bangladesh Export Processing Zones Authority (BEPZA) has issued notices to the foreign investors who are building their factories at the Karnaphuli Export Processing Zone (EPZ).
The article also mentioned that the Food Department earlier owned the land which, through an official process was handed over to BEPZA. Now Food Dept. needs that land; hence, the BEPZA has served notice upon the foreign investors to stop work.
I find it a suicidal move by the BEPZA. Not only will these investors be annoyed and effected, the future of foreign direct investment (FDI) will diminish. They will also claim huge compensation.
Since the Food Dept and the BEPZA are our internal matters, I am sure that the ministry of commerce, food and land should come forward to resolve it by giving alternate land to the Food Dept. without effecting the foreign investors. It is not a very difficult situation. It can be resolved if we have have the will to do it.
In these difficult economic conditions, we should strive to be attractive to the foriegn investors in setting up their units in Bangldesh so that our trade and commerce continue to move forward.
It is our fervent appeal to the ministries concern to see that the BEPZA change its stand immediately for the betterment of the country.