EPZs draw $166m investments in July-March
Monday, 11 April 2011
Shah Alam Nur
The country's export zones drew US$166 million in foreign investments in nine months of the current financial year, helped by political stability and improved power generation, the zone regulator said. "I think political stability in the last couple of years has prompted firms to invest and reinvest in EPZs. The overall power situation has also improved during the last few months," AZM Azizur Rahman, of Bangladesh Export Processing Zones Authority, said Friday. Eight industrial zones account for about 19 per cent of the country's total export earnings. The BEPZA official said entrepreneurs, particularly from the Middle East, Japan, Taiwan and India, have invested in several industries including textile, knitwear garment, woven garment and tent-making during July-March period. Chinese firm Ms Universal Hats and Bags Ltd and Nantong Tong Feng HKD, a tent manufacturer from Korea, and an Indian garment manufacturer Gee Bee, are the leading investors, he added. Karnaphuli EPZ attracted the highest $30.61 million investment during the period, followed by Chittagong EPZ with $29.2 million. Dhaka EPZ attracted $24.86 million while Comilla and Adamjee EPZs attracted $22.03 million and $18.35 million respectively. The EPZs also created direct and indirect employment opportunities for about 19,635 and 282,392 people respectively, while the manufacturing units of the EPZs exported products worth around $2.0 billion during the period. Mr. Rahman said the BEPZA has unveiled a series of programmes to attract investments in the country's EPZs. He said a few plots are now available at Nilphamari, Ishwardi and Mongla EPZs. But many investors are not interested to set up industrial plants in those EPZs due to gas crisis. Power situation in EPZs has improved after the BEPZA set up several power plants in the industrial parks and has also taken steps for alternative power generation, he added.
The country's export zones drew US$166 million in foreign investments in nine months of the current financial year, helped by political stability and improved power generation, the zone regulator said. "I think political stability in the last couple of years has prompted firms to invest and reinvest in EPZs. The overall power situation has also improved during the last few months," AZM Azizur Rahman, of Bangladesh Export Processing Zones Authority, said Friday. Eight industrial zones account for about 19 per cent of the country's total export earnings. The BEPZA official said entrepreneurs, particularly from the Middle East, Japan, Taiwan and India, have invested in several industries including textile, knitwear garment, woven garment and tent-making during July-March period. Chinese firm Ms Universal Hats and Bags Ltd and Nantong Tong Feng HKD, a tent manufacturer from Korea, and an Indian garment manufacturer Gee Bee, are the leading investors, he added. Karnaphuli EPZ attracted the highest $30.61 million investment during the period, followed by Chittagong EPZ with $29.2 million. Dhaka EPZ attracted $24.86 million while Comilla and Adamjee EPZs attracted $22.03 million and $18.35 million respectively. The EPZs also created direct and indirect employment opportunities for about 19,635 and 282,392 people respectively, while the manufacturing units of the EPZs exported products worth around $2.0 billion during the period. Mr. Rahman said the BEPZA has unveiled a series of programmes to attract investments in the country's EPZs. He said a few plots are now available at Nilphamari, Ishwardi and Mongla EPZs. But many investors are not interested to set up industrial plants in those EPZs due to gas crisis. Power situation in EPZs has improved after the BEPZA set up several power plants in the industrial parks and has also taken steps for alternative power generation, he added.