Editorial
EPZs need full support
Increase the number to accommodate more investors
It is welcome news that investment in the existing Export Processing Zones (EPZs) in the country has increased 135 per cent in the first six months of the 2007-2008 fiscal, compared to the performance in the previous fiscal. We are further delighted to learn that the volume of export of processed goods has also increased by 6 per cent in the same period. EPZ chairman Brigadier General Ashraf Abdullah Yusuf revealed the statistics in a press conference on Thursday when he also explained the future plan of his organisation. While we would want the export volume to go up at a faster pace, we consider the present accomplishment worthy of a mention.
There is no denying that EPZs with their investment terms, infrastructure facilities, availability of skilled labour force and orderliness could meet the criteria of many local and foreign investors. As a result, today as many as 264 export-oriented industries are running in full swing, thereby contributing immensely to the growth of our economy. We must also appreciate the fact that these industries have provided employment opportunity to thousands of our skilled manpower. But we are extremely worried at the same time to know that because of unavailability of plots in EPZs, new investors are going away looking for other countries with similar facilities, such as Cambodia, Vietnam and India. EPZ authorities reportedly have applied to the government for setting up new export processing zones but the approval has yet to come from them. We wonder what could be the raison d'être for the delay when we have such good examples of performance right before us? Should not this be the number one agenda on the list of the government that would have a long-lasting impact on our economy?
Rapid industrialisation with an eye for export and export diversification should be given top priority by the government for turning Bangladesh into an industrialised country. And to achieve the target what requires to be done is creating more EPZs with unimpeded gas and electricity supply, better infrastructure facilities and better road connection with the main highways and waterways.
Since the ball is now in the court of the government we would like to urge the officials concerned to expedite the implementation process of the new export processing zones to meet the need of the investors.
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