The governing physique of the Korean Export Processing Zone, headed by the executive adviser, on the recent time (2 December) determined to quickly-track its land registration and ease its bond licensing job to turn the most crucial industrial park correct into a foreign bellow funding hub.
Chief Adviser Professor Muhammad Yunus convened the governing physique assembly for the KEPZ at his space of enterprise at Tejgaon, Dhaka, reads a press free up from the CA’s press hover.
This used to be the first assembly of the KEPZ governing physique presided over by the head of the order in 9 years.
The assembly lined several necessary concerns, at the side of land rights, ports and customs, labour rules, and investor make stronger mechanisms.
The committee took executive choices to total the excellent land handover to KEPZ as mercurial as imaginable, roll out the permitted financial operator model, ease the bond licensing job, and open dialogue on labour authorized guidelines.
The committee additionally unanimously determined to decentralise authority and quickly-track provider by transferring KEPZ out of CAO’s bellow administration to Bangladesh Economic Zones Authority (Beza).
These steps are anticipated to send a signal to the wider funding community that Bangladesh is open for enterprise.
Chowdhury Ashik Mahmud Bin Harun, executive chairman, Bangladesh Investment Trend Authority (Bida) and Beza, said, “We need to make stronger our existing merchants to create them our ambassadors. As a check case, a separate SWAT group used to be location up in BIDA to name key challenges in KEPZ and unravel them.”
“We wanted to location an instance. And on the recent time’s a hit assembly demonstrates the governmentcan additionally occupy in tempo,” he added.
Lutfey Siddiqi, chief adviser’s special envoy for global affairs, said, “On the recent time’s result illustrates a brand recent kind of govt that operates with clear intent and centered execution. We hope that a virtuous cycle of solutions and responsive reforms will create a few of the grievances about our funding climate out of date very quickly.”
KEPZ, essentially operated by Youngone Company, currently employs over 34,000 Bangladeshis in forty eight cutting-edge industrial devices. Fifty-two p.c of the 2,500-acre put is left for inexperienced.
