Bangladesh Proposes New Export Processing Zones To Attract Investment From Shoe Leather Enterprises

Fake Rudin, chief consultant of Bangladesh recently chaired the meeting to discuss the feasibility of constructing 10 new export processing zones and the location of processing zones.

According to Joseph, executive chairman of the Management Committee of Bangladesh export processing zone, the first of the 10 processing zones to be built is likely to locate Finney.

The 10 processing zones will not allow the entry of traditional textile enterprises. Only enterprises with high value-added products such as machinery manufacturing enterprises, production of textile raw materials, electronic products, footwear, leather and jute products will be invited to invest in the park.

In view of the fact that China is the largest trading partner of Bangladesh and the pace of China's "going out" is increasing year by year, Bangladesh reiterates its welcome to Chinese enterprises to invest in Bangladesh or set up their own industrial parks, and promises to give preferential treatment to Chinese investors.

In 2007, Bangladesh was seriously inadequate in attracting foreign investment.

According to Mencius Investment Bureau, foreign investment in Bangladesh in the first half of this year was only 197 million US dollars, which was 84% lower than that in the second half of 06 years. Domestic investment 66 billion 820 million Taka (about 950 million Dhaka) was half of the second half of the 06 year.

Nasir, chairman of the all Meng Federation of industry and commerce, believes that the lack of confidence in the business sector and the increase in costs are the main causes of investment slump.