Bangladesh Export Processing Zones Authority (BEPZA) has signed a development agreement with the Bangladesh Economic Zones Authority (BEZA) to build an economic zone in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN). BEPZA executive chairman Major General Md Nazrul Islam and BEZA executive
The Bangladesh Export Processing Zones Authority (Bepza) is establishing an economic zone at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) to diversify exports.
The agency will emphasise the electronic and spare parts manufacturing industries keeping in mind the fourth industrial revolution and job creation. The new zone will be different from the existing zones of the Bepza as we will not give priority to the apparel industry, said Md Nazrul Islam, executive chairman of the Bepza.
The planned economic zone will be an EPZ inside the BSMSN in Mirsarai of Chattogram. Investors will have to sell 90 per cent of the products to be manufactured in the international markets, and the rest could be sold in the domestic market following customs and other rules.
Walton Hi-Tech Industries yesterday made public the good news of its surging profits and plans to strengthen its footprint abroad, leading to a three per cent rise of its stocks.
The listed local electronic giant decided to open either branches or liaison offices in India, Nepal, the United Arab Emirates and South Korea which not only would expand its market and help source technologies. We are already sending our products to these countries but now we want to strengthen our market share there, said Managing Director Golam Murshed.
Special marketing and service teams will work in those offices to attain the upgradation target of becoming one of the top five global electronics giants within 2030, he said.
Stalled prospects
Although the companies mentioned above are already producing or soon to start production, many other local automotive ventures had their venture abruptly halted because of the ongoing pandemic.
Bangladesh Auto Industries Ltd. (BAIL), was planning to establish an electric vehicle factory on Bangabandhu Industrial Park. With an initial investment of $200 million that would total to $1 billion within the next five years, the company planned to manufacture from two-wheelers to sedans, SUVs, pick-ups, mini-trucks, and multipurpose vehicles. Unfortunately, the pandemic slowed down BAIL s plans considerably, with all plans being moved back a year. In an interview with The Daily Star Mir Masud Kabir, managing director of BAIL, said We missed the target as the suppliers could not ship the required equipment on time even though we opened letters of credit earlier on, said Mir Masud Kabir, managing director of BAIL. We were on track before the Covid-19 crisis hit but the
Consistent tax policies, right incentives can draw large FDI
Tareq Rafi Bhuiyan Jun, secretary-general of Japan-Bangladesh Chamber of Commerce and Industry, says in an interview
Tareq Rafi Bhuiyan Jun
The relationship between Japan and Bangladesh is a trusted and time-tested one. Bangladesh became Japan s biggest recipient of official development assistance in 2020. Since the Covid-19 pandemic started more than a year ago, there has been a lot of talks and anticipation about Japanese businesses moving base to Bangladesh. In a series of high-profile interviews, The Daily Star tries to understand the increasing interest of Japanese investors in Bangladesh, its growth prospects, barriers to growth, ground realities, and on how to attract more Japanese investment. As part of the series, today, we are running the interview of Tareq Rafi Bhuiyan Jun, secretary-general of the Japan-Bangladesh Chamber of Commerce and Industry.