BEPZA seeks more South Korean investment in EPZs and BEPZA EZ

Bangladesh Export Processing Zones Authority (BEPZA) has invited South Korean investors to invest more in Export Processing Zones (EPZs) of Bangladesh and BEPZA Economic Zone located at Mirsarai, Chattogram. BEPZA Executive Chairman Major General Abul Kalam Md. Ziaur Rahman, BSP, ndc, psc made this call as the Chief Guest at a seminar titled "Investment Opportunities in the Export Processing Zones and BEPZA Economic Zone of Bangladesh" held today (26 April 2024) at Seoul, the capital city of South Korea.

Korean Community in Bangladesh, Kido Industrial Co. Ltd. and Giant BD Company Ltd. jointly organized this seminar. Ambassador of South Korea to Bangladesh H.E. Park Young Sik and Ambassador of Bangladesh to South Korea H.E. Md. Delwar Hossain attended the seminar as special guests. About 60 participants attended the seminar of various South Korean investment organizations/industrial groups who have their interest in investing in Bangladesh.

In the seminar, BEPZA Executive Chairman provided a comprehensive picture of the favorable investment climate presently prevailing in Bangladesh, particularly for Foreign Direct Investment (FDI). He said, Bangladesh has experienced tremendous growth over the last decade. The strategic geographical location, demographic dividend, large & expanding domestic market, stable socio-political environment, etc. are the key contributors to the rapid economic development of Bangladesh.

Major General Zia said that the main attraction of investment in Bangladesh is the most inexpensive, productive, abundant and easily trainable workforce. The minimum wage of the workers in Bangladesh is the lowest in Asia, he added.

Highlighting the incentives and facilities provided by the present Government to the investors, BEPZA Executive Chairman said that Bangladesh has been consistently liberalizing its foreign investment policies over the time. The Government has formulated "One Stop Service Act" for the Investment Promotion Agencies of Bangladesh to provide faster and better services, he added.

Mentioning the expansion plan of BEPZA the Executive Chairman said, along with the 8 operational EPZs, BEPZA is establishing an Economic Zone in Mirsharai, Chattogram which has already attracted 28 industries in its development stage, and few of them started production. Moreover, establishment of 3 new EPZs are also under process which will be ready for the investors by the end of 2025. He urged South Korean investors to come forward and explore the potentiality of investment in Bangladesh especially in these zones under BEPZA.

Mentioning the long-standing friendly relationship between Bangladesh and South Korea, Ambassador of Republic of Korea to Bangladesh Park Young Sik, highlighted Bangladesh's remarkable success story in the garment sector. He informed the South Korean investors regarding investment opportunities in Bangladesh focusing its gradual progress in all sectors including infrastructure, graduation from LDC status and the nation's vision to build Smart Bangladesh.

Ambassador of Bangladesh to South Korea Md. Delwar Hossain mentioned the various steps of the Government to create investment friendly Bangladesh and urged Korean investors to invest more in Bangladesh.

In the welcome speech, Chairman of KIDO Bangladesh Mr. Jang Hee Park, a South Korean investors of Adamjee EPZ highly appreciated the services provided by BEPZA in setting up factories at EPZ of Bangladsh. He urged Korean investors to be benefitted by investing in the EPZ of Bangladesh.

The seminar was ended with a lively question and answer session where the BEPZA Executive Chairman along with Tanvir Hossain, Executive Director (Investment Promotion), Fazlul Haque Mazumder, Additional Executive Director (Investment Promotion), and Ali Istiak Chowdhury, Director of BEPZA answered various questions of the participants. BEPZA gets positive feedback from few investors who expressed their interest in investing in Bangladesh soon.