The Bangladesh Export Processing Zones Authority (BEPZA) has extended an invitation to South Korean investors to boost their investments in the Export Processing Zones (EPZs) across Bangladesh, including the BEPZA Economic Zone situated in Mirsarai, in the port city of Chittagong.

Major General Abul Kalam Md. Ziaur Rahman, the executive chairman of BEPZA, conveyed this message during his participation as the chief guest at a recent seminar, which took place in Seoul, South Korea recently.

Organised jointly by the Korean community in Bangladesh, Kido Industrial Co. Ltd., and Giant BD Company Ltd., the seminar also saw the presence of ambassador Park Young Sik of South Korea to Bangladesh and ambassador Md. Delwar Hossain of Bangladesh to South Korea.

Approximately 60 participants representing various South Korean investment organisations and industrial groups attended the seminar. Major General Kalam provided insights into Bangladesh’s favourable investment climate, particularly for Foreign Direct Investment (FDI), emphasising the nation’s remarkable growth trajectory over the past decade.

He underscored Bangladesh’s strategic geographical location, demographic dividend, expansive domestic market, and stable socio-political environment as pivotal factors contributing to its rapid economic development.

Highlighting Bangladesh’s cost-effective and skilled workforce as a key attraction for investors, Major General Kalam noted the country’s competitive advantage with the lowest minimum wage in Asia even as he outlined the incentives and facilities provided by the government to investors, including the “One Stop Service Act,” aimed at streamlining investment procedures.

Regarding BEPZA’s expansion plans, Major General Kalam disclosed ongoing efforts to establish an Economic Zone in Mirsarai, Chittagong, alongside the operational EPZs. He revealed that 28 industries have already been attracted to this development, with several already in production.

Additionally, the establishment of three new EPZs is underway, slated for completion by 2025.

Meanwhile, ambassador Park Young Sik commended Bangladesh’s success story in the garment sector and highlighted investment opportunities across various sectors, including infrastructure development and the nation’s aspiration to become a Smart Bangladesh.

Ambassador Md. Delwar Hossain echoed the sentiment, emphasising the government’s commitment to fostering an investment-friendly environment and encouraging Korean investors to explore opportunities in Bangladesh.

Fibre2Fashion News Desk (DR)

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