Dhaka //

Chief Advisor Professor Muhammad Yunus has urged the Bangladesh Export Processing Zone (BEPZA) authorities to showcase Bangladesh to the world, so that more investment can come to the country’s industrial sector.

In a meeting at the Chief Advisor’s office in Tejgaon, Dhaka on Monday, the organization’s Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman submitted the annual report of BEPZA for the fiscal year 2023-24 to the Chief Advisor.

At the time, the Chief Advisor said, create a team for economic diplomacy and showcase Bangladesh to the world. For this, coordinate with the Ministry of Foreign Affairs if necessary.

The Chief Advisor asked to take initiatives to see if Bangladeshi students studying abroad, especially those in China and Japan, can be involved and bring in investment from those countries.

He said that students living abroad can help investors overcome the language barrier and invest in the country.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman said that they are getting positive response from investors amidst the July-August uprising in Bangladesh and the changing global political scenario.

“In the last three weeks, we have received an investment proposal of US$ 135 million from Chinese investors. Discussions are underway for more investments,” he told the chief advisor.

He added that currently, there are eight export processing zones operating in Bangladesh, where there are 452 factories. Another 136 factories are under construction in these zones. Out of the operating factories, more than 100 are owned by local investors and most of the remaining factories are joint ventures.

Major General Zia told the chief advisor that investors have mentioned some of the issues including uninterrupted gas and power supply, bonded warehouse facilities in BEPZA areas, direct flights from Chittagong to Shanghai and visa counselor services in Shanghai, China. He also said that investment could increase if these facilities are provided.

Principal Advisor Professor Yunus urged BEPZA to explore the possibility of setting up solar power plants in export processing zones and work on gas exploration. At the same time, he also asked them to work specifically on how the distribution system can be improved.

He also directed them to look into whether Bangladesh can benefit from importing energy from neighboring countries.

Lutfe Siddiqui, the Special Envoy of the Principal Advisor, who was present at the meeting, emphasized economic diplomacy in the field of investment.

He said that the government will work to create an integrated distribution system so that more electricity and energy can reach the industrial factories from the existing plants in the country.

Bangladesh Investment Development Authority (BIDA) Chairman Ashiq Chowdhury said that we have to work to encourage investors in export processing zones.

“We should make BEPZA as well as BEZA more attractive and promote the facilities available in these regions around the world to attract more investment,” he said.

Principal Secretary to the Chief Advisor Md. Siraj Uddin Mia was present in the meeting.