With an aim to popularise economic zones and attract more investors to set up manufacturing units, the Bangladesh Economic Zone Authority (BEZA) is reportedly pushing for ensuring duty-free imports of spare parts for factories located within the economic zones.
It may be mentioned here that a host of multi-national, domestic and foreign entities involved in readymade garment manufacturing, accessories and textiles have set-up their respective units in various economic zones of the country.
As per media reports, BEZA Executive Chairman Paban Chowdhury recently wrote a letter to the National Board of Revenue (NBR) requesting it to include incentive package for investors under the same, while underlining that industries located in the export processing zones under the Bangladesh Export Processing Zones Authority (BEPZA) also got exemption from payment of customs duty, regulatory duty, supplementary duty and value-added tax on imports of spare parts along with capital machinery.
It may be mentioned here that According to BEZA, the Government has planned to develop a total of 100 economic zones at different parts of the country in the next 15 years. Under this initiative, 28 economic zones would be developed under public and private sectors and are reportedly progressing fast while BEZA has reportedly already given 6 organisations final clearance and 17 organisations pre-qualification licenses for setting up the economic zones under private sector.
These economic zones are expected to generate one crore additional jobs and US $ 40 billion additional export opportunities annually.
The BEZA earlier this year decided to allot 500 acres of land to Bangladesh Garment Manufacturers and Exporters Association (BGMEA) for setting up a well-planned readymade garments industry park in the Mirsarai economic zone of Chittagong to increase apparel export.
