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Bangladesh : Govt drops Meghna, Feni EPZ projects.

The government has dropped construction of Feni and Meghna EPZ projects despite the foreign investors' demand for industrial zones in the country's exclusive areas, officials said.

"The BEPZA governing body has decided to drop the Feni and Meghna EPZ projects, as the government now prefers special economic zones (SEZ)," said a senior BEPZA official Saturday.

The era of construction of EPZs has come to an end following the government decision.

Earlier, Bangladesh Export Processing Zones Authority (BEPZA) approved construction of two new EPZs adjacent to the Dhaka-Chittagong Highway. The government finalised site for the EPZs, and the World Bank (WB) also conducted their feasibility study.

The BEPZA took the move to construct the two EPZs, as it had received positive signals from the previous government to go for expansion.

Each EPZ was planned to be set up on 500 acres of land through public-private partnership with the initial investment for land acquisition coming from the BEPZA's own funding.

Earlier in 2008, the BEPZA governing body approved Meghna EPZ, to be set up at Gazaria in Munshiganj near the Dhaka-Chittagong Highway, amid increasing demand for plots by potential investors.

Our expectation for the EPZ was high, as it was proposed to be constructed only 34-kilometre away from the city having good connectivity with the port-city," officials said.

The country's eight EPZs have employed 2,62,757 people, attracting investments worth over $1.8 billion until 2009-10.

The majority of investors are involved in manufacturing of ready-made garment and textile products.

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Date:Jul 26, 2010
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