For all latest news, follow The Financial Express Google News channel.
Exports from the country’s Export Processing Zones (EPZs) witnessed a 22.41 per cent growth year-on-year in the first half (H1) of the current fiscal year 2024-2025 (FY25), totalling US$4,126 million, up from US$3,371 million during the same period a year earlier.
The information was revealed today at a press briefing held at the Bangladesh Export Processing Zones Authority (BEPZA) complex in the city.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman briefed the reporters about the export position, BSS reports.
In his speech, Ziaur Rahman said BEPZA contributed 29 per cent of the total Foreign Direct Investment (FDI) of the country in the fiscal year 2023-24.
“BEPZA exported products worth US$7.07 billion, which is 16 per cent of the total $44.47 billion export income in FY 2023-24,” he added.
Despite various global challenges, he informed that BEPZA signed agreements with 28 foreign companies to invest $568.49 million in Bangladesh.
“A total of 38 countries have invested in Export Processing Zones under BEPZA. Among these companies, 108 are Chinese, 61 South Korean, 29 Japanese, 19 Indian, 19 UK, 17 US, and 7 are Sri Lankan,” he mentioned.
The executive chairman, however, said domestic and foreign investors are already approaching BEPZA to invest in the EPZ areas.
“Recently, a foreign company proposed a $150 million investment, and investors are showing interest in manufacturing solar panel components and chemicals," he added.
Ziaur Rahman reiterated BEPZA's commitment to driving investment and export growth in Bangladesh.
He stated that uninterrupted energy supply remains a challenge, but if this can be overcome, there will be no issues affecting investment flow.
"We currently have nearly 50 investment proposals," he added.
BEPZA Member (Investment Promotion) Md Ashraful Kabir, in a presentation, highlighted its achievements and future plans.
Ashraful Kabir said that over the years, BEPZA has consistently contributed between 15-20 per cent of Bangladesh's total exports.
He showed that 48 per cent of diversified products are being produced in these EPZs.
The EPZs produce a diverse array of goods, including tents, bicycles, cosmetics, Hollywood masks, camping furniture, golf shafts, wigs, mannequins, jute products, energy-saving bulbs, metal products, toys, eyeglasses, camera lenses, mobile parts, car seat heaters, bamboo coffins, PPE, face masks, bridal gowns, gift boxes, eyelashes, cartons, PVC aprons, safety shoes, bags, and luggage, he added.
Since its inception, he said, BEPZA has attracted a total of $6.91 billion in investments and facilitated exports amounting to $114.91 billion up to 2024.
The authority has created a total of 524,385 employment opportunities till 2024, he added.
He mentioned that BEPZA has deposited Tk 1,215.94 crore (Tk 12.16 billion) in the treasury as income tax till December 2024.
BEPZA Member (Engineering) Md Imtiaz Hossain, Member (Finance) A N M Foyzul Haque, and BEPZA Executive Director (Public Relations) Abu Syeed Md. Anwar Parvez also spoke at the event.