Comitted to PEOPLE'S RIGHT TO KNOW
Vol. 4 Num 66 Fri. August 01, 2003  
   
Business


PM asks BEPZA to attract more foreign investment


Exports from the country's export processing zones (EPZs) in the recently concluded financial year (2002-2003) stood at 1.2 billion US dollars against the target of 1.13 billion dollars, showing a 12 per cent growth over the previous year.

The country's six EPZs have also created employment opportunities for 1.29 lakh Bangladeshi nationals in 180 industrial units so far and contributed 19 per cent to the national economy in 2002-03.

The statistics were revealed at the 20th meeting of the board of governors of Bangladesh Export Processing Zones Authority (BEPZA) yesterday with Prime Minister Khaleda Zia in the chair. The Prime Minister is the Chairperson of BEPZA.

Speaking at the meeting at International Conference Centre of the Prime Minister's Office, Zia directed the BEPZA executives to work more efficiently to attract foreign investment and create more job opportunities in the EPZs.

Increased investment can raise the export volume further, generate employment and alleviate poverty, she said.

She directed the authorities concerned to vacate and hand over the land of now closed Chittagong Steel Mills Ltd to Chittagong EPZ in phases from October next.

The meeting was informed that the total investment in the EPZs at present stood at 634.04 million dollars due to an addition of 103.13 million dollars in the fiscal 2002-03. The investment volume in the last fiscal was 85.16 per cent higher than that of previous year's investment of 55.70 million dollars.

BEPZA Executive Chairman Brig Gen (Retd) M Mofizur Rahman made a presentation on situation of the EPZs at the beginning of the meeting.

Finance Minister M Saifur Rahman, Industries Minister Motiur Rahman Nizami, Shipping Minister Lt Col (Retd) Akbar Hossain, Foreign Minister M Morshed Khan, State Minister for Energy and Mineral Resources A K M Mosharraf Hossain, State Minister for Labour and Employment Amanullah Aman and Bangladesh Bank Governor Dr Fakhruddin Ahmed attended the meeting.

The meeting decided that the government would provide 50 per cent of the total cost of a project to supply 20 lakh gallons of water to Chittagong EPZ. The Rural Development Authority (RDA) would implement the project at a cost of Taka 14 crore.