■The government has taken up a major expansion programme at Dhaka Export Processing Zone (DEPZ) in Savar to attract more foreign investments in the country.

Under the expansion programme. a total of 252 new plots over 214.5 acres of land will be developed at a cost of Taka 60 crore. These plots are located Just opposite side of the existing DEPZ.

According to sources at Bangladesh Export Processing Zone Authority (BEPZA). sixty per cent of development work has already been completed and the Prime Minister Sheikh Haslna is likely to inaugurate it on the 8th of this month.

BEPZA is expecting investment more than 500 million US dollars in the new areas of DEPZ.

Talking to The Daily Star, Moazzem Hussain Khan. Chairman of BEPZA said DEPZ is being expanded to meet the demand of foreign investors and hundred per cent export-oriented local companies.

Of 252 new plots, about 100 have already been allotted to

different foreign companies, h^ said adding that one company alone proposed to Invest more than 150 million dollars. The company which came from Malaysia got allotment of 84 plots for setting up a composite textile mills.

He said the expansion project was approved seven months back and the project Implementation work started since the beginning of this year. He expects completion of the new project before next June.

The country's foreign investment trend is very encouraging as foreign Investors' are showing keen Interest to come to Bangladesh due to cheap labour and various incentives Including one stop services provided by the government to them, Moazzem said.

In this regard he spoke of more infrastructure development Including roads, highways. power and gas sectors.

In the existing DEPZ, a total of 23 factories are in operation and another 35 industrial projects are on different stages of implementation.

.More than 182.87 million

US dollars have been invested in those projects making em-Vloyment opportunity for 6,000 people.

During the current fiscal year up to Februanr '97, DEPZ exported 67.12 million dollars worth of goods.

Asked whether the mills and factories under the EPZs were affected due to recent power shortage in the country. BEPZA Chairman said though they had to face some difficulties due to power shortage, the situation was not alarming because some special arrangements were taken for them.

The break-up participation of foreign companies in DEPZ are: USA-3, Hong Kong-8, Japan-4, Malaysia-1. Oermany-2, UK-4, South Korea-16. China-1. Ireland-1. Panama-1, Canada-2, and Singapore-1.

The related sectors are: fishing reel and golf equipment, textile, electronics, terry towel, metal products, plastic goods, leather goods, furniture, garments. knitting, paper products, caps, tents, toys, ropes, surgical towels and sponges.