No more new pvt EPZ nowGovt decides only to allow companies to invest in EZs The government has decided not to permit any new export-processing zone (EPZ) in the private sector for now. Rather it will allow establishing economic zones (EZs) to promote investment in the country, officials said. A meeting of the board of governors of Bangladesh Private EPZs last month, with Prime Minister Sheikh Hasina in the chair, took the decision on economic zoning in various parts of the country having potential for such ventures. The matter came to light when Maisha Group of Companies sought permission to set up its proposed ‘Arisha Specialised Industrial Park Ltd’ in Dhaka’s Savar area on 81 acres of land. The firm sought permission for site selection under the Bangladesh Private Export Processing Zones Act 1996. A senior official of executive cell of the Bangladesh Private EPZs told the FE that the meeting turned down Maisha’s plea for permission to set up the export zone. He said the meeting rather suggested that the Group invest in any of the economic zones under the Bangladesh Economic Zones Authority (BEZA). Asked about such decision on not allowing private EPZ for now, director of the executive cell of Bangladesh Private EPZs Abu Muhammad Yousuf told the FE the government had formed BEZA to give permission for economic zones. “Since the executive cell has no authority to give permission for setting up private EPZs, the investors from private sector will have to make investment in EZs under BEZA.” He, however, could not give a reply whether permission will be given for the setting up of new private EPZs once the executive cell turns into Authority. Mr Yousuf said EZs will be alternative to EPZs for making private-sector investment. Presently, the country has only two private EPZs–both located in Chittagong division. The two are Korean EPZ and Rangunia EPZ. He said there are some establishments in Korean EPZ and registration of land is under process but the Rangunia EPZ authority did not make any mentionable progress save taking licence from the government. An official of BEZA told the FE that the government was planning to give approval for eight more EZs–three of those in private sector. Earlier, the government gave permission for a bunch of 22 economic zones. Three of them–AK Khan Private Economic Zone (PEZ), Abdul Monem PEZ, and Garment Shilpa Park in Munshiganj-went to the private sector. Expressing his government’s preference in facilitating investment in the country, Finance Minister AMA Muhith in his budget speech on June 4 last announced that some 100 EZs would be set up in next 15 years to raise export earnings by US$40 billion and create employment for some 10 million people.
