The Bangladesh Economic Zones Authority (BEZA) has sought to put its name in the new import and export policies along with enough policy bounties to lure in investors from home and abroad. Officials of the new body on economic sector plead for a square deal in this regard on a par with Bangladesh Export Processing Zones Authority (BEPZA), especially for attracting foreign investors. “We all are trying to make an industry-friendly environment for the proposed economic zones (EZs). We have applied to the government for including name of the BEZA in the two new upcoming policies,” said executive chairman of BEZA Paban Chowdhury. He expressed the hope that BEZA would be included in the new Import Policy (2015-18) and Export Policy (2015-18). “We have already consulted all state authorities concerned in this connection,” the chairman said. The proposal has been given due mainly to get more and more responses from domestic and foreign investors to EZ-development plans in future. “Foreign investors analyze the country’s profile, different trade-and investment-related policies when they want to invest in any country. Presently, there is no mention of the name of BEZA in the existing two policies,” said a high official of BEZA to point out the lacking in this respect. As a result, he said, foreign investors do not find the name of the BEZA in the policies and it creates confusion among the investors. “So, it is badly needed to put the name of the authority in the new policies,” said the BEZA official. The BEZA, placed under prime minister’s office (PMO), recently sent a letter to the ministry of commerce (MoC) for including its name and stipulate same rules in the policies. “It is needed to include the name of BEZA in the new policies and also same rules for the BEZA as BEPZA,” the letter reads. Currently, the MoC is working to finalise the Import Policy (2015-18) and the Export Policy (2015-18). The validity of the current Import Policy (2012-15) and the Export Policy (2012-15) expires on June 30. Exporters under the BEPZA presently enjoy different facilities and incentives. They get duty-free facilities in import of all of their raw materials. Besides, they are exempted from paying customs duty on import of capital machinery. Furthermore, they are having rules and regulations support under the existing policies, which, the officials pleaded, should also be applicable for the BEZA entrepreneurs. Earlier, some 22 areas for establishment of economic zones have been approved by the Governing Board (GB) of BEZA. Some sites have been selected for more 8 zones. The Authority gave licences to 4 private economic zones for development and a good number of licences are under processing. The government established the BEZA to regulate and oversee the new zones under the Economic Zones Act 2010. The regulator started work in 2012 on establishing economic zones in different areas of the country having potential to contribute to the national economy.
Source: https://www.thefinancialexpress-bd.com/2015/05/30/94661
