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China enquires about exclusive EPZ Delegation visits Dhaka EPZ

BSS, Dhaka
Visiting Chinese Vice-Minister for Commerce Yu Guang Zhou yesterday enquired about the possibility of an exclusive export processing zone for Chinese investors in the country.
The vice-minister visited the Dhaka Export Processing Zone (EPZ) in Savar and went round three factories to see for himself the facilities available there for foreign investors. He held talks on the scope of bringing in enhanced Chinese investments here, particularly in the textiles and clothing sector.
He was specially keen to know if the Bangladesh government would allocate an exclusive export processing zone for Chinese investors.
Following Guang Zhou's visit there, Executive Chairman of the Bangladesh Export Processing Zone Authority (BEPZA) Zakir Hossain said he told the Chinese envoy that the Chinese investors can immediately move to existing
EPZs while their request for an exclusive EPZ can be dealt with in due time.
Hossain said the Chinese investors has already made significant investments in the country's existing EPZs where the number of their operating units now stood at 24 while other 12 units are under implementation.
Total Chinese investment in those units stood at US$109 million and they have more than 24,000 workers in the pay roll. Their total export earnings so far stood at US$12.5 billion, the BEPZA chief executive said.
He said China is taking increasing interest in the country's textiles and clothing sector not only for its low labour cost but, perhaps as part of a new strategy to face the post MFA global market situation to which Chinese exports facing certain restrictions.
The Chinese vice-minister visited the garment factories to see the infrastructure and working environment. He was satisfied by the overall environment and
production, the BEPZA executive said. Guang Zhou, however, avoided speaking to the press.
Hossain said Bangladesh is now becoming a growing destination of global foreign direct investment (FDI) and the demand for industrial plots in the EPZs are also growing fast.
He said an investment delegation from Hong Kong is scheduled to visit Bangladesh from June 20 while a Chinese investment delegation may follow soon.
The BEPZA executive said he is optimistic about big investments here in the context of Bangladesh's duty free market access without other quantitative restrictions to the US, European and some other markets.
It acts as an attraction for any big investor and Bangladesh is open to enhanced Chinese investment for the mutual benefits of both the countries, he pointed out.