Staff Reporter :
Bangladesh Economic Zones Authority (BEZA) has speeded up its process for establishing Economic Zones (EZs) in different areas of the country, aiming at attracting more domestic and foreign investments, creating new jobs and propelling growth.
According to a document of the World Bank (WB), the major development partner for setting up of the economic zones, the BEZA and the Bangladesh Hi-Tech Park Authority (BHTPA) in the last two years licensed 16 economic zones and hi-tech parks and assessed 33 sites, completed feasibility studies, and master plans for new zones.
BEZA also issued licenses to 11 private zone developers including licensing to Mongla Economic Zone on a public-private partnership basis. The tendering process for the development of EZs in Mirshorai, Shrehatta and other locations has started.
It has assessed 12 sites and drafted another nine for pipeline Economic Zones. The new BEZA Act has been approved and a gazette notification for the private Economic Zone policy has been published.
The WB together with UK-DFID and International Finance Corporation (IFC) is supporting the government to develop EZs and hi-tech parks through the Private Sector Development Support Project (PSDSP). The project till now has helped create nearly 5,500 jobs.
PSDSP has also supported the Green Zone Initiative of the Bangladesh Export Processing Zones Authority (BEPZA), which includes solar lighting in the Chittagong Export Processing Zone, the setup of an environmental laboratory, and ISO14001 certification to 21 enterprises.
According to the WB document, business registration time has been reduced from 44 days to 8 days. BEPZA has developed and implemented a one-stop shop system for registration, export and import licensing, customs clearance, and other regulations in their EPZs.
The construction of the Kaliakoir Hi-Tech Park is progressing rapidly. The BHTPA has licensed two Hi Tech Parks under a private public partnership (PPP) model and seven private Hi-Tech Parks. The process for licensing two additional PPP parks has started.
The Employment Incentive and Skills Enhancement Programmes of BHTPA have trained and facilitated employment for thousands of people. A total of 11,457 people have received industry-specific training or certification and 52 firms now comply with international quality standards (ISO 9000 or equivalent).
Guidelines for private IT Parks have been formulated and two private software technology parks (STPs) have been declared and three firms have started operation in the Janata Tower STP. Incentives for investors and developers are gazette and published.
The World Bank Board of Directors approved an additional financing of $130 million for PSDSP on 5 April, 2016. The additional support will scale up project achievements and put greater emphasis on quality, social, and environmental standard compliance within the zones.
“This will directly support the government’s target of establishing 100 zones in the next 15 years to contribute to the national jobs agenda.”
Bangladesh Economic Zones Authority (BEZA) has speeded up its process for establishing Economic Zones (EZs) in different areas of the country, aiming at attracting more domestic and foreign investments, creating new jobs and propelling growth.
According to a document of the World Bank (WB), the major development partner for setting up of the economic zones, the BEZA and the Bangladesh Hi-Tech Park Authority (BHTPA) in the last two years licensed 16 economic zones and hi-tech parks and assessed 33 sites, completed feasibility studies, and master plans for new zones.
BEZA also issued licenses to 11 private zone developers including licensing to Mongla Economic Zone on a public-private partnership basis. The tendering process for the development of EZs in Mirshorai, Shrehatta and other locations has started.
It has assessed 12 sites and drafted another nine for pipeline Economic Zones. The new BEZA Act has been approved and a gazette notification for the private Economic Zone policy has been published.
The WB together with UK-DFID and International Finance Corporation (IFC) is supporting the government to develop EZs and hi-tech parks through the Private Sector Development Support Project (PSDSP). The project till now has helped create nearly 5,500 jobs.
PSDSP has also supported the Green Zone Initiative of the Bangladesh Export Processing Zones Authority (BEPZA), which includes solar lighting in the Chittagong Export Processing Zone, the setup of an environmental laboratory, and ISO14001 certification to 21 enterprises.
According to the WB document, business registration time has been reduced from 44 days to 8 days. BEPZA has developed and implemented a one-stop shop system for registration, export and import licensing, customs clearance, and other regulations in their EPZs.
The construction of the Kaliakoir Hi-Tech Park is progressing rapidly. The BHTPA has licensed two Hi Tech Parks under a private public partnership (PPP) model and seven private Hi-Tech Parks. The process for licensing two additional PPP parks has started.
The Employment Incentive and Skills Enhancement Programmes of BHTPA have trained and facilitated employment for thousands of people. A total of 11,457 people have received industry-specific training or certification and 52 firms now comply with international quality standards (ISO 9000 or equivalent).
Guidelines for private IT Parks have been formulated and two private software technology parks (STPs) have been declared and three firms have started operation in the Janata Tower STP. Incentives for investors and developers are gazette and published.
The World Bank Board of Directors approved an additional financing of $130 million for PSDSP on 5 April, 2016. The additional support will scale up project achievements and put greater emphasis on quality, social, and environmental standard compliance within the zones.
“This will directly support the government’s target of establishing 100 zones in the next 15 years to contribute to the national jobs agenda.”
