Bangladesh Export Processing Zones Authority (BEPZA) has invited South Korean investors to invest more in Export Processing Zones (EPZs) of Bangladesh and BEPZA Economic Zone located at Mirsarai, Chattogram, reports BSS.
BEPZA Executive Chairman Major General Abul Kalam Md Ziaur Rahman made this call as the chief guest at a seminar on "Investment Opportunities in the Export Processing Zones and BEPZA Economic Zone of Bangladesh" held in Seoul on Friday.
Korean Community in Bangladesh, Kido Industrial Co Ltd and Giant BD Company Ltd jointly organised this seminar. Ambassador of South Korea to Bangladesh Park Young Sik and Ambassador of Bangladesh to South Korea Md Delwar Hossain attended the seminar as the special guests.
About 60 participants representing various South Korean investment organizations/industrial groups attended the seminar.
In the seminar, BEPZA Executive Chairman provided a comprehensive picture of the favorable investment climate presently prevailing in Bangladesh, particularly for Foreign Direct Investment (FDI).
He said, "Bangladesh has experienced tremendous growth over the last decade. The strategic geographical location, demographic dividend, large and expanding domestic market, stable socio-political environment, etc. are the key contributors to the rapid economic development of Bangladesh."
Major General Kalam said that the main attraction of investment in Bangladesh is the most inexpensive, productive, abundant and easily trainable workforce. The minimum wage of the workers in Bangladesh is the lowest in Asia, he added.
Highlighting the incentives and facilities provided by the present government to the investors, the BEPZA Executive Chairman said that Bangladesh has been consistently liberalizing its foreign investment policies over the time.
"The government has formulated "One Stop Service Act" for the Investment Promotion Agencies of Bangladesh to provide faster and better services," he added.
Mentioning the expansion plan of BEPZA the Executive Chairman said, along with the 8 operational EPZs, BEPZA is establishing an Economic Zone in Mirsharai, Chattogram which has already attracted 28 industries in its development stage, and few of them started production.
Moreover, establishment of 3 new EPZs are also under process which will be ready for the investors by the end of 2025.
He urged South Korean investors to come forward and explore the potentiality of investment in Bangladesh especially in these zones under BEPZA.
Mentioning the long-standing friendly relationship between Bangladesh and South Korea, Ambassador of Republic of Korea to Bangladesh Park Young Sik, highlighted Bangladesh's remarkable success story in the garment sector.
He informed the South Korean investors regarding investment opportunities in Bangladesh focusing its gradual progress in all sectors including infrastructure, graduation from LDC status and the nation's vision to build Smart Bangladesh.
