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Investment in EPZs up over 41%

bd_4_ever

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Actual investment in EPZs up by over 41pc

The actual investment in the country's eight export processing zones (EPZs) grew by 41.10 per cent to US$ 314 million during the immediate past fiscal year (FY), according to official statistics released Wednesday.

Officials said the investment witnessed a robust growth mainly due to expansion of the existing plants as well as new endowments from foreign direct investment and joint and local ventures.

The cumulative investment in the eight EPZs has been $ 2.12 billion since 1983.

Apart from expansion of factories, the export processing zones authority has approved 493 new enterprises to set up factories during the period.

"Some 366 enterprises have already started their operation and 127 are at different stages of implementation of their respective projects," said a senior official working at the investment promotion cell of Bangladesh Export Processing Zones Authority (BEPZA).

The BEPZA official said the growth rate of employment rose by 55.59 per cent to 43,666 persons during the period. Total employment at the EPZs stood at 306,423 persons.

"Enterprises located in the EPZs have hired more than 64 per cent women," he said.

EPZs are mainly dominated by textiles, ready-made garments and footwear plants.

More than 200,000 persons were also recruited indirectly during the period.

However, enterprises of the EPZs have exported goods worth $ 3.7 billion, a growth of 31 per cent in the fiscal year.

This figure is $ 672 million more than that of the strategic target worth 3.0 billion dollars. The industries of the EPZs exported goods worth $ 2.82 billion during the 2009-10 fiscal year, the official statistics said.

But entrepreneurs said the volume of exports has risen mainly due to increase in the prices of products.

Ashraful Hassan, managing director of Grameen Knitwear, a plant at the Dhaka EPZ, told the FE: "The prices of clothing items have risen significantly mainly due to surge in the prices of yarns in the international market."

London-based Financial Times has ranked the Chittagong EPZ third best cost competitive zone in the world and fourth in the best economic potentials for 2010-11.

The World Bank has ranked Bangladesh 20th out of 187 nations for investors' protection making it the best in South Asia region.

Actual investment in EPZs up by over 41pc
 
The World Bank has ranked Bangladesh 20th out of 187 nations for investors' protection making it the best in South Asia region.

Agreed but theres this simple problem we are facing right now,

"Land Shortage." hmmmmm....
 

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