Chief Adviser Professor Muhammad Yunus receiving BEPZA’s annual report at his office in Tejgaon, Dhaka. Photo: PID
Chief Adviser Professor Muhammad Yunus has called on the Bangladesh Export Processing Zones Authority (BEPZA) to enhance the country's global presence and attract more foreign investments into its industrial sectors.
Yunus emphasized the importance of forming a dedicated team for economic diplomacy that would focus on promoting Bangladesh abroad.
He made this statement during a meeting with BEPZA officials, where they presented the annual report for the 2023-24 fiscal year at his office in Tejgaon, Dhaka.
He also recommended that BEPZA collaborate with the Ministry of Foreign Affairs to foster international relations and explore new investment opportunities. Additionally, Yunus suggested that BEPZA engage Bangladeshi students studying overseas, particularly in China and Japan, to assist foreign investors with language barriers and help facilitate investment decisions.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman highlighted the positive response from international investors, particularly following recent political changes in the country. In the past few weeks, BEPZA received an investment proposal worth $135 million from Chinese investors, with further negotiations underway.
Currently, eight export processing zones are operational in Bangladesh, housing a total of 452 factories, with an additional 136 factories under construction. Local investors own more than 100 of these operational factories, while the rest are joint ventures. A significant portion of production focuses on ready-made garments, textiles, and garment accessories, though a variety of other products are also produced, including toys and coffins.
General Zia also outlined several requests from investors, such as the need for uninterrupted gas and electricity supply, bonded warehouse facilities in BEPZA zones, and improved air connectivity between Chattogram and Shanghai. Additionally, he suggested establishing a visa counseling service in Shanghai to aid Chinese investors.
In response to these demands, Professor Yunus proposed exploring the potential for solar power plants in export processing zones and improving gas exploration and distribution systems. He also suggested investigating the feasibility of importing energy from neighboring countries to meet growing industrial energy needs.
Special Envoy Lutfey Siddiqi emphasized the importance of targeted economic diplomacy and stated that the government is working on an integrated power distribution system to ensure industries have access to sufficient electricity.
Bangladesh Investment Development Authority (BIDA) Chairman Ashik Chowdhury stressed the need to make BEPZA and the Bangladesh Economic Zones Authority (BEZA) more attractive to global investors. He also suggested promoting the existing facilities in these zones on an international scale to encourage further investment.
The meeting was also attended by Principal Secretary to the Chief Adviser Md Siraj Uddin Miah.
