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Corporate - July 26, 2021

Bangladesh keeps investment doors open despite pandemic

Says BEZA chief Yusuf Harun

Staff Correspondent: Bangladesh Economic Zones Authority (BEZA) Executive Chairman Shaikh Yusuf Harun has said the Bangladesh government continues investment services despite pandemic to allure investors to come with their new ventures here.
“Investors from home and abroad are being able to invest easily in Bangladesh despite pandemic. Bangladesh is keeping open all sorts of services through ports, Bangladesh Investment Development Authority (BIDA), BEZA and Bangladesh Export Processing Zones Authority (BEPZA),” he said.
In an interview recently, the BEZA chief said they are approving any kind of investment related application within a short time through e-nothi. “Our One Stop Service (OSS) center is always ready to provide all necessary services to the investors at a single window,” he added. Despite slow investment flow across the world, Shaikh Yusuf Harun said, Bangladesh is becoming a centre of global business community which will help the country achieve Vision-2041.
He said that very low labour cost, skilled manpower, favourable government policies, uninterrupted electricity supply, high productivity and political stability are turning Bangladesh into a global investment hub despite the Covid-19 pandemic.
He informed that many world-renowned foreign companies are coming withbig investment offers. The works for establishing 97 economic zones across the country are going on for ensuring planned industrialization, he mentioned.
Due to the pandemic, the BEZA chief said, investment in different countries is becoming difficult, but Bangladesh has kept its investment doors open.
Responding to a question, Shaikh Yusuf Harun said, he wants to make BEZA a more attractive place for investment by applying his long experience in the civil service.
“I have been working in the civil service for more than 32 years. I have got the opportunity to gather skills from various sectors. So, I want to use my skills to build BEZA,” he added.
He said Bangladesh will become a developed country in 2041 and for this, orgranisations like BEZA will have to work as per their targets.
Shaikh Yusuf Harun said BEZA has set a target to create jobs for around one crore people by establishing 100 economic zones across the country.
It has also set a target to earn an additional $40 billion by exporting goods from the economic zones, he added.
He informed that the BEZA governing board has already approved the location and amount of land in 97 economic zones, of which 68 are public economic zones and 29 are private economic zones.
Out of the economic zones, he said, nine zones have already gone to production while the development of 28 zones is progressing fast.
He said that 27 industries have gone to production while construction works of 39 industries are ongoing, adding that the economic zones have already created around 41 thousand employment opportunities.

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