Bangladesh's BEPZA registers 30.41% growth in exports in FY 2021-22

The enterprises of export processing zones (EPZs) created employment opportunities for 64,160 Bangladeshi nationals, which is the highest in a single year in the history of BEPZA, according to a press release.

Among the total export of EPZs, the apparel shipment accounts for only 54.68 per cent whereas 85 per cent of the country’s total export is apparel. But the other sectors of EPZs such as garment accessories, footwear and leather goods, textiles, tents, caps, plastic goods, and electronics captured a fair share in the export earnings which proved the EPZs as the hub of producing products of various types.

The exports from the operational enterprises of the country’s 8 EPZs under BEPZA reached $8,655.90 million in the fiscal 2021-22, setting a new record crossing the $8 billion mark for the first time. The previous highest in a single FY was $7,524.11 million in 2018-2019. Export receipts were 30.41 per cent up compared to a year ago i.e. 2020-21, when the enterprises of EPZs brought home $6,637.06 million.

BEPZA has attracted an investment of $409.80 million in FY 2021-2022. The previous highest was $406.35 million in FY 2014-2015. The investment increased 20.26 per cent in the just concluded FY compared to $340.75 million achieved in FY 2020-21.

BEPZA hopes the investment would be increased even more compared to FY 2022-23 by the operation of the BEPZA Economic Zone – BEPZA largest ever venture. Till June 2022, BEPZA allowed 10 companies to set up industries in BEPZA EZ with a total proposed investment of $215.66 million, which will start to be added as an actual investment from the current FY.

In the recent ended fiscal 2021-22, BEPZA has created a milestone by creating employment for 64,160 Bangladeshi nationals. Though BEPZA created new jobs for over 47,000 people in FY 2020-21, in the recently concluded FY 2021-22 the authority set a new record by creating job opportunities for 64,160 Bangladeshi nationals. This shows a rise of 36.51 per cent, added the release.

Investors from over 37 countries including South Korea, China (Taiwan and Hong Kong), Japan, India, UK, US along with the host country, Bangladesh, invested $6,040.43 million in EPZs as of June 2022. The total exports from the 456 operational enterprises of 8 EPZs reached to $96 billion where cumulative employment stood at 5,02,365 till June 2022.

Fibre2Fashion News Desk (NB)