Bangladesh's economic zones bag investment bids worth $6.25 bn

01 Dec '21

1 min read

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Bangladesh’s economic zones (EZs) have bagged Investment proposals worth $6.25 billion, with both foreign and local entrepreneurs showing interest in setting up industries. Foreign investors, however, want improvements in Bangladesh's business climate and timely response to their requirements and measures of other countries, considering the changing global supply chain scenario.

They also called for proper implementation of fiscal and tax incentives to attract more foreign direct investment (FDI) in the country.

"Investment in the economic zones continues amid the COVID-19 pandemic, and some 106 investors have so far made $6.25 billion investment proposals," executive member of Bangladesh Economic Zones Authority (BEZA) M Erfan Sharif told a business session at the two-day International Investment Summit 2021 Bangladesh in Dhaka.

The proposed 100 EZs would be set up by 2030, while 97 are already approved. These zones would generate direct and indirect employment for about 10 million people with $40 billion production, he noted.

He called on foreign investors to invest in the country's economic zones, especially in Jamalpur, Sreehatta, Maheshkhali and Araihazar EZs as well as in Bangabandhu Sheikh Mujib Shilpa Nagar, according to Bangla media reports.

Fibre2Fashion News Desk (DS)

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