EPZ Investment Reaches $302m, FDI $125.67m

A total of USD 302.39 million investment has been made during July to April of the current fiscal in the country’s eight export processing zones (EPZ).
Of the total investment only $125.67 million was in foreign direct investment (FDI), while the rest of the $176.71 million was in local and joint venture investment. According to Bangladesh Export Processing Zone Authority (BEPZA), despite the interest of foreign investors, the BEPZA authority could not provide necessary accommodation in the EPZ areas.
For this reason the FDI rate is lower compared to the last fiscal.
The BEPZA sources said, Chinese investors are keen to invest in the EPZs particularly in Chittagong and Dhaka due to transport facilities. But, the BEPZA authority is unable to provide accommodation as per their demand.
According to BEPZA, during July to April $109.57 million investment has been made in Chittagong EPZ, $53.27 million in Dhaka EPZ, $44.28 million in Karnaphuli EPZ, $40.82 million in Adamjee EPZ,
$28.59 million in Ishwardi EPZ and $1.43 million  in Mongla EPZ. The cumulative investment stands at $2.7 billion up to April in eight EPZs in Bangladesh.
According to BEPZA sources, during July-March a total of 22,157 employment opportunities have been created for Bangladeshi nationals at 417 running factories in the EPZs, while it was 19,133 during the corresponding period of the previous fiscal.
Of the total employees 3,774 people are employed in Chittagon EPZ, 2,833 in Dhaka EPZ, 97 in Mongla EPZ, 1,89 in Comilla EPZ, 6,759 in Adamjee EPZ and 7,505 in Karnaphuli EPZ. The sources also said that a total of 3,62,178 Bangladeshi nationals are working  in the eight EPZs. During this period, MGL company BD Ltd, (China) invested $20.77 million FDI in Ishwardi EPZ, Towa Personal Protective Device Bangladesh Ltd (Japan) $16.50 in Ishwardi EPZ, Copper Co Ltd, (India) $4.40 million in Chittagong EPZ, Natway Outdoor Ltd (Taiwan and China) $30.34 million in Comilla EPZ, M/S BD Design private Ltd (India) $8.9 million in Karnaphuli EPZ, M/S Muscot Thread (BD) Ltd (Oman) in Comilla EPZ, GL Grape BD Co Ltd (Korea) $1.762 million in Comilla EPZ, Rice Science and Bio Chemical Bangladesh Ltd (Japan) $25 million in Ishwardi EPZ,  GL Grape Bangladesh Ltd (Korea) $1.76 million in Comilla
EPZ, M/S PH Garment Manufacturing Company Limited (China) $11.01 million in Karnaphuli EPZ.
BEPZA sources also said, the prevailing political situation with frequent hartals and violence is hindering the FDI in EPZs along with the lack of necessary accommodation facilities.

Source: The Independent

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