The ambassador wondered why the government is "dilly-dallying" with the EPZ, which would bring huge foreign direct investment in Bangladesh now making vigorous efforts to increase the flow of foreign investment.

The EPZ would attract huge FDI and create jobs for about one lakh people, Ambassador Kyu-Hyung Lee said at the monthly luncheon meeting of the Foreign Investors' Chamber of Commerce and Industry (Ficci) in Dhaka.

As of 2003, some 180 Korean companies made a total investment of $320 million in Bangladesh. They exported products worth $600 million and created employment for about 90,000 Bangladeshis, he mentioned.

The South Korean envoy however opposed the idea of introducing trade unionism (TU) in EPZs, saying that Bangladesh government had committed not to allow trade unionism in the exclusive industrial zones.

"We are not opposed to the trade unionism but it should not be imposed on foreign investors unless enough preparation is made," Lee said. "The investors should be given time to plan their business."

He said the Korean investors are concerned about the move to introduce TU in the exclusive economic zones. "Their legitimate concern should be well accommodated by the government," the ambassador said.

Lee urged the government to speed up customs and transport clearing for Korean exporters.

The envoy said some 18,000 Bangladeshi workers are currently working in South Korea, half of them are illegal. He advised the workers to take legal channel in getting jobs in South Korea.

Chairing the meeting, Stephen Daintith, vice-president of Ficci, said poor governance, disturbing law and order situation and endemic corruption still remain the areas of concern of business community.

He said frequent hartal and political unrest are depriving Bangladesh of achievable economic progress. "Bangladesh has consumer market of 140 million people and it is a opportunity for foreign investors," he observed.

Kate Barker of Working for Better Life, an NGO, said the big companies should discharge their corporate social responsibilities for sustainable development.

Andrew Fawthrop, committee member of Ficci, was also present at the function.