Investments in EPZs rise 46pc in Jul-Feb
Star Business Report
Investment in eight export processing zones (EPZs) in the country rose 46 percent in the first eight months of the 2006-07 fiscal, compared to the same period of the previous fiscal. According to Bangladesh Economic Review 2007, the EPZs fetched $104million investment during the July-February period, which was $71million during the corresponding period of FY 2005-06. Besides, the total accumulated investment to the EPZs up to February 2007 stood at $1083.47million. Usually, of the total exports volume, the EPZs contribute 15 to 20 percent to the international market. During the first eight months of the immediate past fiscal, products worth $1325.35million were exported from eight EPZs against the target of $2billion. A total of 1.95 lakh local workers, 60 percent of whom female workers, have been employed at the EPZs up to February 2007. The government provides some extra benefits to the industrial units set up by both the local and foreign investors in the EPZs. Along with Bangladesh, so far a total of 30 countries have invested in different sectors in the EPZs. The foreign investors are from Japan, Korea, Hong Kong, Thailand, China, Taiwan, Malaysia, Indonesia, Singapore, USA, UK, Germany, France, Italy, Sweden, the Netherlands, Switzerland, the UAE, India, Panama, Nepal and Pakistan. The number of industrial units up to February was 252. Most of those are ready made garment (RMG) industries. 52 such RMG units, both local and foreign, are in operation in the EPZs, which fetched $263million investment up to December 2006. Then the second and third investment went to garments accessories and textile sectors. Textile and garments sectors fetched $252.91millon and 101.91million investment respectively during the period. The other sectors lured investments following the EPZ benefits are terry towel, tent, electric and electronics products, footwear and leather, metal, agricultural industry etc. With a view to attracting both local and foreign prospective investors, the government opened Adamzee EPZ as the country's seventh EPZ in March 2006. The EPZ fetched $5.16million investment up to February 2007 and at the same time it exported products worth $7.14million to the international market. The Dhaka EPZ (DEPZ) secured the highest position in terms of both investment and exports. The official economic statistics says goods worth $651.27million were exported from DEPZ up to February 2007 against its $69.37milion investment. The other EPZs are Chittagong, Mongla, Comilla, Iswardi, Uttara and Karnaphuli.
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