The Karnaphuli Export Processing Zone (EPZ), which was established by the Bangladesh Government in 2006 and currently houses 51 companies including two bicycle-related manufacturers, two electronics manufacturers, 29 garment manufacturers, two bag makers, two tent and outdoor product manufacturers, one furniture maker, 5 shoe and leather goods producers, and 3 service-based companies, has been steadily growing to boost the country’s export earnings.
According to media reports, over a period of 16 years since its inception, the Karnaphuli EPZ, which is located in North Patenga (some 3km away from the Chattogram EPZ) and is now vibrant with enterprises contributing to the Bangladesh’s economic growth and creating a staggering 78,000 employment over the course of 16 years, has so far brought in export earnings amounting to nearly US $ 10 billion.
Reports further added, as per data from BEPZA, in the 2006-07 fiscal year, Karnaphuli EPZ began its journey with an investment of only US $ 1.91 million and a workforce of only 174 only to register US $ 9.86 million in export earnings in the next fiscal 2007-08 even as the investment amount only increased every year in the following years and more employment was created.
