Home / Knowledge / News / Textiles / Two new EPZs given sanction for retaining foreign investors
Two new EPZs given sanction for retaining foreign investors
22
May '08
In the past 11 months, Bangladesh Export Processing Zone Authority (BEPZA) has hit record high investment agreements worth US $1.29 billion with foreign investors and popular brands like Nike, Adidas, Reebok and Samsonite.

A senior official from BEPZA told Fibre2fashion, “In the recent years Bangladesh EPZs have become an attractive destination for foreign investors and this is mainly due to its low cost of production, fiscal incentives and duty free access to major global markets like EU and US.

Investors especially from Asian countries like China, Taiwan, Hong Kong and Japan are occupying the scarce space in the BPEZA.

In order to meet the growing demand and paucity of industrial plots, BPEZA has decided to establish two additional EPZs, one at Feni and other at Munshigonj to be called the Meghna EPZ.

According to the official, the net investment inflow in Bangladesh's EPZs during 2007-08 amounted to $300 million against $152 million during the last fiscal 2006-07.

The eight existing EPZs in the country are now producing goods and sports materials for 50 famous global brands. Besides, it also manufactures common export products meant for major global market like the EU, USA and some other countries offering zero tariff access.

Nearly 2.15 lakh people are working in the EPZs and their export earnings in the last 10 months of this fiscal year stood at $1809 million which may touch $2.3 billion by the end of this year.

Experts are of the opinion that setting up Feni and Meghna EPZs will play a crucial role in retaining foreign investors as the site chosen for their construction is located near a sea port. BEPZA is striving hard to develop the land and the infrastructure as soon as possible.

Fibre2fashion News Desk - India


Must ReadView All

US announces final CVD on fine denier PSF from China, India

Textiles | On 19th Jan 2018

US announces final CVD on fine denier PSF from China, India

The US secretary of commerce Wilbur Ross recently announced the...

EU consumers to gain from cheaper, safer, better e-payments

Apparel/Garments | On 19th Jan 2018

EU consumers to gain from cheaper, safer, better e-payments

European consumers can now reap the full benefits of paying online...

Telangana minister pitches for investments in S Korea

Textiles | On 19th Jan 2018

Telangana minister pitches for investments in S Korea

Industries and information technology minister of India’s Telangana...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Top executives
Textile industry

The foremost issue is bridging the skill gap

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search