BEZA receives $1.5 billion FDI proposals so far

BEZA receives $1.5 billion FDI proposals so far

The Bangladesh Economic Zones Authority (BEZA) has successfully attracted local and foreign investors, resulting in foreign direct investment (FDI) proposals totaling $1.5 billion. The initiative to establish 100 planned economic zones in Bangladesh, supported by a liberalized policy with fiscal and non-fiscal incentives, has garnered significant interest. BEZA’s Executive Chairman, Shaikh Yusuf Harun, highlighted the progress made in establishing economic zones through various methods, including public-private partnerships and government-to-government agreements.

The comprehensive package offered by BEZA includes tax exemptions, duty-free import/export, and other non-fiscal incentives to attract investors. The authority has approved the establishment of 97 economic zones, with 29 being private zones that have received investments worth $4 billion. FDI proposals from 32 foreign companies, totaling $1.5 billion, have been received, with five companies already commencing production.

BEZA’s efforts align with Bangladesh’s goal of achieving a developed status by 2041 through industrialization and employment generation. The authority is collaborating with countries such as Japan, China, and India to establish economic zones under government-to-government agreements. BEZA aims to create a conducive investment climate, offering services to investors at lower prices than many other countries.

Source: Newagebd

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