Economic zones hold huge potential

Business leaders on Wednesday said there is huge investment potential in toy manufacturing, PVC, and petrochemical industries in the country’s economic zones.

They made the observation at a meeting of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in the capital.

Bangladesh Economic Zone Investors Association President Safwan Sobhan Tasvir highlighted the current investment status in Bangabandhu Sheikh Mujib Shilpanagar in Chattogram’s Mirsharai and other economic zones.

FBCCI President Md Jashim Uddin called for branding Bangladesh as the most favourable investment destination in South Asia to attract local and global investment in the country's economic zones.

He noted that the Bangladesh government is providing the most favourable infrastructure and policy support in Asia for investment in special economic zones. He also urged the Bangladesh Economic Zone Investors Association to convey these benefits to global entrepreneurs.

The FBCCI president further said the land port infrastructure of the Indian side should now be developed to bolster bilateral trade.

According to the Export Promotion Bureau, Bangladesh’s exports to India rose by 55.62 per cent to $2 billion in FY22 from $1.27 billion in the previous fiscal year.

Of the total exports, $715 million came from apparel goods, which was $422 million in the previous year.

FBCCI vice-presidents Md Amin Helaly and Md Habib Ullah Dawn, Director Rejaul Kariem Rejnu, Secretary General Mohammad Mahfuzul Hoque, BEZIA Director Mohammad Mostafa, Member Iqbal Hossain Chowdhury, and Secretary Md Rafiqul Islam were also present at the meeting.