Bangladesh Export Processing Zone Authority

Bangladesh Export Processing Zones Authority
বাংলাদেশ রপ্তানি প্রক্রিয়াকরণ অঞ্চল কর্তৃপক্ষ
Logo of the BEPZA
Agency overview
JurisdictionGovernment of Bangladesh
Headquarters
  • BEPZA Complex, House no- 19/D, Rd No. 6, Green Rd, Dhaka 1205
Agency executive
Parent agency
 Prime Minister's Office
Websitewww.bepza.gov.bd

The Bangladesh Export Processing Zones Authority (BEPZA) (Bengali: বাংলাদেশ রপ্তানী প্রক্রিয়াকরণ অঞ্চল কর্তৃপক্ষ) is an agency of the Government of Bangladesh and is administered under the jurisdiction of the Prime Minister's Office. Its objective is to manage the various export processing zones (EPZs) in Bangladesh.

About

BEPZA currently oversees the operations of eight EPZs. A ninth zone is scheduled to open in the future. In 2015, it was reported that the government intended that in 15 years 100 new EPZs and special economic zones (SEZs) will be established. Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc is the current Executive Chairman of BEPZA. The Government provides numerous incentives for investors for opening factories in EPZs. For example, new factories enjoy a 5-year tax holiday. Also, labour unions and other activities that are often viewed detrimental to productivity, are banned inside the EPZs. In order to stimulate rapid economic growth of the country, particularly through industrialization, the government has adopted an 'Open Door Policy' to attract foreign investment to Bangladesh. The BEPZA is the official organ of the government to promote, attract and facilitate foreign investment in the EPZs. Besides, BEPZA as the competent Authority performs inspection & supervision of the compliances of the enterprises related to social & environmental issues, safety & security at the workplace in order to maintain harmonious labour-management & industrial relations in EPZs. The primary objective of an EPZ is to provide special areas where potential investors would find a congenial investment climate free from cumbersome procedures. Bangladesh's export revenue in FY23 is $55.55 billion, the highest amount ever.

Export processing zones

Below is the list of export processing zones run by BEPZA:

Newly established and proposed economic zone

Recently Government has approved 37 new Economic zones, which consists governmental, non-governmental and Specialized Economic zone. Bangladesh government also announced 50pc tax relief in Hi-Tech parks, Economic Zones.

Non-government economic zone

Government also encouraged building of private economic zone. Some are under construction and some are operational.

Science and technology based economic zone

Bangladesh government has been establishing science and technology-based economic zone to attract foreign FDI. Some projects like Kaliakoir high tech park helped by the World Bank and DFID.

See also

References

  1. 1 2 "Meghna Group to build two economic zones". The Daily Star. 12 May 2015. Retrieved 1 October 2016.
  2. ↑ "Bangladesh earns $55.55b in export receipts in FY23, the highest-ever". The Daily Star. 3 July 2023. Retrieved 14 July 2023.
  3. ↑ "50pc tax relief in Hi-Tech parks, Economic Zones". Risingbd. Retrieved 1 December 2015.
  4. ↑ "Sonargaon Economic Zone gets pre-qualification licence". Dhaka Tribune. 25 August 2016. Retrieved 1 October 2016.
  5. ↑ Hi-Tech Park Bangladesh. "Hi-Tech Park Authority". htpbd.org.bd. Archived from the original on 8 November 2015. Retrieved 1 December 2015.
  6. ↑ "Bangladesh Hi-Tech Park Authority – বাংলাদেশ হাই-টেক পার্ক কর্তৃপক্ষ-". htpbd.org.bd. Archived from the original on 13 November 2015. Retrieved 1 December 2015.