Fully-foreign, as well as joint venture investment proposals with the Bangladesh Economic Zones Authority (BEZA), are gradually increasing with the organisation getting proposals for investments worth US$4.080 billion in 2020.
BEZA Executive Chairman, Paban Chowdhury attributed the rise in investment proposals to government's investment friendly policy and measures and said some world reputed foreign companies have expressed interest to come to Bangladesh with big investments.
BEZA, which looks after the country's state-run special economic zones (SEZs), got investment proposals worth around $3.150 billion during the Covid-19 pandemic that had cast a severe blow to life and economic activities across the globe.
Of the $3.150 billion, he said $0.545 billion will come as foreign direct investment (FDI) from China, India, Australia and the UK.
Internationally reputed companies such as Berger Paints of the UK, Jiehong Medical Products (BD) Company Limited and CCECC Bangladesh Limited of China, Jiangsu Yabang Dyestuff Company Limited, Ramky Enviro Services Private Limited of India, HA Tech Limited of Australia, German and India joint venture company Fortis Group, Lizard Sports BV of the Netherlands and Inter-Asia Group Pte Limited of Singapore are among the foreign investors.
Among the local investors, Metro Spinning Ltd, Samuda Food Products Ltd, Uttara Motors Ltd, Bangladesh Garment Manufacturers & Exporters Association (BGMEA), Maksons Spinning and Textiles, Sayeman Beach Resort Limited, Maf Shoes Ltd, Bangladesh Garments Accessories & Packaging Manufacturers & Exporters Association (BGAPMEA), N. Mohammad Plastic Industries Ltd, Ifad Autos Limited, Runner Motors Ltd, Saif Powertec, Delta Pharma Ltd and Asia Composite Mills Ltd. will invest in the special economic enclaves.
Paban Chowdhury said many entrepreneurs have already started construction of their industrial units in the economic zones.
Amid the Covid-19 pandemic, Paban Chowdhury said, BEZA has continued its investment promotion campaign virtually, and many world-renowned foreign companies have expressed interest to invest in Bangladesh.
"The interest of foreign and local entrepreneurs to invest in the SEZs during COVID-19 pandemic proves that the SEZs of Bangladesh are suitable places for businesses," he said.
Mentioning the special interest of entrepreneurs to invest in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN), a special economic zone at Mirsarai-Sitakunda-Sonagazi, he said BSMSN is attracting both domestic and foreign investors because of the government's long-term planning.
If the flow of investment in the BSMSN continues, it will be a challenge for BEZA to allocate land to investors for industrial use next year.
"There is a high possibility that the BSMSN will be the next investment and trade capital of Bangladesh," he added.
The BEZA executive chairman said the government provides all sorts of facilities to the economic zones to ensure an investment-friendly environment.
He said a total of 7,315 acres of land has been selected for lease in favor of 172 investing institutions in five economic zones- BSMSN, Maheshkhali, Shrihatta, Jamalpur Economic Zone and Sabrang Tourism Park with a proposed investment of about $23.96 billion, he added.
Paban Chowdhury said BEZA has also introduced the One Stop Service (OSS) center to provide all necessary services to the investors under a single roof.
BEZA is now providing a total of 125 services under the OSS centre, out of which, investors are getting 48 online.
