BEZA, BEPZA to make $4.5b investment

[Black_cats]

BEZA, BEPZA to make $4.5b investment
Agreement signed

FE Online Report | Published: May 30, 2021 20:40:19 | Updated: May 30, 2021 20:43:32

A development agreement was signed between Bangladesh Economic Zone Authority (BEZA) and Bangladesh Export Processing Zones Authority (BEPZA) to set up a 'BEPZA Economic Zone' in Bangabandhu Sheikh Mujib Shilpanagar (BSMSN).

Under the agreement, once the 1,150-acre BEPZA Economic Zone, located at Mirsarai in BSMSN, is established, it will create $ 4.5 billion investment, 500,000 jobs and set up 350 to 400 industrial units.

The signing ceremony was held at a city hotel on Sunday, according to a BEZA statement issued on Sunday.

Prime Minister's Principal Secretary Dr Ahmad Kaikaus was present at the function as the chief guest while Helal Uddin Ahmed, Senior Secretary, Local Government Division, Prime Minister's Office secretary Md Tofazzel Hossain Miah and BEPZA Executive Chairman Maj Gen Md Nazrul Islam were present as the special guests.

BEZA Executive Chairman Paban Chowdhury chaired the event.

A Memorandum of Understanding (MoU) was signed between BEPZA and BEZA on May 18, 2017 according to the decision to allot land to BEPZA in the Mirsarai Economic Zone at the fourth meeting of the BEZA Governing Board.

The necessary infrastructure including dams, roads, water lines and power lines are almost completed for the investors to set up industrial factories.

Construction of the zone services complex, officers and staff dormitory, investors residence, Ansar and security barracks, security and customs building, main gate and customs gate is also underway, as per the statement.

Despite the Covid-19 crisis, a positive response has been received from investors in this regard, the statement stated.

A revised project proposal has been prepared for the development of ancillary physical infrastructure including construction of 539 industrial plots in the entire area which is in the process of approval, the statement said.

sajibur@gmail.com

BEZA, BEPZA to make $4.5b investment

A development agreement was signed between Bangladesh Economic Zone Authority (BEZA) and Bangladesh Export Processing Zones Authority (BEPZA) to set up a 'BEPZA Economic Zone' in Bangabandhu Sheikh Mujib Shilpanagar (BSMSN). Under the agreement, once the 1,150-acre BEPZA Economic Zone, located at

thefinancialexpress.com.bd

 

[bluesky]

Under the agreement, once the 1,150-acre BEPZA Economic Zone, located at Mirsarai in BSMSN, is established, it will create $ 4.5 billion investment, 500,000 jobs and set up 350 to 400 industrial units.

BEPZA, BEZA, or FDI, BD must build industries to provide jobs and create national wealth. Now, let us see which DESHI companies will invest. I hope the companies will not belong to the GoB but to the private people.

People will be watching how the private enterprises are supported by Banks for local Taka and by the govt for foreign currency. Just making an agreement between two govt institutions will not cause people to invest. Other supporting policies are required.

By the way, I thought all these EPZs are being built to attract FDIs but no one seems to be interested to come and invest. Sadly, all FDIs are going to Vietnam and India. It is something of food for thought why BD cannot attract FDIs.

Our govt people are good at wild-guessing which FDIs will leave China and come to BD but without effects so far.

 

[SpaceMan18]

BEPZA, BEZA, or FDI, BD must build industries to provide jobs and create national wealth. Now, let us see which DESHI companies will invest. I hope the companies will not belong to the GoB but to the private people.

People will be watching how the private enterprises are supported by Banks for local Taka and by the govt for foreign currency. Just making an agreement between two govt institutions will not cause people to invest. Other supporting policies are required.

By the way, I thought all these EPZs are being built to attract FDIs but no one seems to be interested to come and invest. Sadly, all FDIs are going to Vietnam and India. It is something of food for thought why BD cannot attract FDIs.

Our govt people are good at wild-guessing which FDIs will leave China and come to BD but without effects so far.

Well Bangladesh isn't a easy nation to invest in , we must make it attractive for foreign companies to invest here if we want more FDI. Bangladesh needs these FDI desperately cause it needs to grow.

 

[bluesky]

After reading the news I found BEPZA will invest $4.5 billion, set up more than 300 industrial units and create 500,000 jobs as if everything will fall down from the sky.

These two inefficient will only waste our money and nothing else. It is as usual a piece of futuristic news without substance, যাকে বলে গাছে কাঁঠাল আর গোঁফে তেল।

 

[Michael Corleone]

Why this self proclaimed japani fua so worried about Bangladesh? Aren’t we the scums of the society who can’t make needles?

 

[UKBengali]

Why this self proclaimed japani fua so worried about Bangladesh? Aren’t we the scums of the society who can’t make needles?

This dude thinks he is more of an economics expert than IMF,ADB, World Bank and CEBR put together.

This is the 21st century and BD does not need to follow exactly the same industrialisation path as those like Japan did in the 19th century and S Korea/Taiwan etc did in the 20th century.

It could do better but is doing ok and on balance will be able to pull itself out of the 3rd world by around 2035 according to all serious economic commentators.

He has turned himself into a joke by talking about things like economics that he knows nothing about.

 

[Michael Corleone]

This dude thinks he is more of an economics expert than IMF,ADB, World Bank and CEBR put together.

This is the 21st century and BD does not need to follow exactly the same industrialisation path as those like Japan did in the 19th century and S Korea/Taiwan etc did in the 20th century.

It could do better but is doing ok and on balance will be able to pull itself out of the 3rd world by around 2035 according to all serious economic commentators.

He has turned himself into a joke by talking about things like economics that he knows nothing about.

Careful now he’ll accuse you of doing the dishes in UK, already accused me of milking camels
Dude wants to be witty but when he gets smacked around he indirectly attacks you

 

[UKBengali]

Careful now he’ll accuse you of doing the dishes in UK, already accused me of milking camels
Dude wants to be witty but when he gets smacked around he indirectly attacks you

Apparently I live in BD and have put up false flag of UK that none of the pdf team are aware of, despite the fact that I have been on this forum for 10 years and have written extensively about life in the UK over the years that only someone living here would be able to do.

 

[TOTUU]

By the way, I thought all these EPZs are being built to attract FDIs but no one seems to be interested to come and invest. Sadly, all FDIs are going to Vietnam and India. It is something of food for thought why BD cannot attract FDIs.

Every countries' situation is different. From what I know, Vietnam is now the hottest investment destination.

Vietnam's attractiveness to foreign investment is very strong , Vietnam is now attracting more foreign investment than Vietnam needs, so now the Vietnamese government will choose among them. Vietnam will choose the high quality investment projects with high technology, low pollution, and so on.

In the past, when China attracted foreign investment, there were many preferential conditions, such as free land, decades of tax breaks, no restrictions on any environmental pollution, and labor rights protection.

The development of a country also requires a certain international situation and international environment. Now this era is just perfect for Vietnam.


Bangladesh's current development environment is not as good as Vietnam, but it is also very good.

 

[SpaceMan18]

Every countries' situation is different. From what I know, Vietnam is now the hottest investment destination.

Vietnam's attractiveness to foreign investment is very strong , Vietnam is now attracting more foreign investment than Vietnam needs, so now the Vietnamese government will choose among them. Vietnam will choose the high quality investment projects with high technology, low pollution, and so on.

In the past, when China attracted foreign investment, there were many preferential conditions, such as free land, decades of tax breaks, no restrictions on any environmental pollution, and labor rights protection.

The development of a country also requires a certain international situation and international environment. Now this era is just perfect for Vietnam.


Bangladesh's current development environment is not as good as Vietnam, but it is also very good.

There's a couple ways Bangladesh can go the development route

Route 1 : Don't industrialize as much but get in tons of FDI and then using that money to make indigenous infrastructure and education/healthcare facilities for the nation. While that happens BD focuses on providing people with jobs in the masses due to the immense amounts of FDI. And wait it out while the nation becomes developed enough like Singapore.


Route 2 aka my fav : INDUSTRIALIZE indigenously and make sure everyone gets jobs and homegrown industries start producing quality enough products for export which brings in money which the government uses to build up the country's indigenous infrastructure and health/education services. Eventually BD rises from the ashes to a fully industrialized nation and exports top tier electronics to even maybe EVs.


Route 3 aka the Israel : BD goes full national security mode and immediately starts to fund it's education and domestic arms industry to counter it's neighbors. While it builds up it's military and intelligence spy network it also focuses on it's infrastructure development and also tries to make a Silicon Valley and direct government fund it to begin making apps or even computers to computer chips maybe even. It also tries to get FDI to boost it's GDP and use that GDP to build up it's indigenous military gear which it may even export. It also makes a space agency with launch vehicle capability and uses it to launch spy satellite to monitor it's neighbors. It also funds heavily on cyber warfare/security


Route 4 The colonizer : BD goes full on nationalistic and decides to become a regional power , it industrializes quick and then it starts to build up it's infrastructure and education. With the money the country gains it decides to build a big indigenous military with power projection. BD uses that power projection to go to foreign nations in Africa like the Congo and try to build up their infrastructure while we take... we buy their resources aka like the ones to make computer parts. We might try to fund rebels in nearby Myanmar to gain future land. We become a colonizer , and we definitely want to colonize further so we make a space agency and fund it enough to start getting resources and a foothold on celestial bodies.

The end lol

 

[X-ray Papa]

There's a couple ways Bangladesh can go the development route

Route 1 : Don't industrialize as much but get in tons of FDI and then using that money to make indigenous infrastructure and education/healthcare facilities for the nation. While that happens BD focuses on providing people with jobs in the masses due to the immense amounts of FDI. And wait it out while the nation becomes developed enough like Singapore.


Route 2 aka my fav : INDUSTRIALIZE indigenously and make sure everyone gets jobs and homegrown industries start producing quality enough products for export which brings in money which the government uses to build up the country's indigenous infrastructure and health/education services. Eventually BD rises from the ashes to a fully industrialized nation and exports top tier electronics to even maybe EVs.


Route 3 aka the Israel : BD goes full national security mode and immediately starts to fund it's education and domestic arms industry to counter it's neighbors. While it builds up it's military and intelligence spy network it also focuses on it's infrastructure development and also tries to make a Silicon Valley and direct government fund it to begin making apps or even computers to computer chips maybe even. It also tries to get FDI to boost it's GDP and use that GDP to build up it's indigenous military gear which it may even export. It also makes a space agency with launch vehicle capability and uses it to launch spy satellite to monitor it's neighbors. It also funds heavily on cyber warfare/security


Route 4 The colonizer : BD goes full on nationalistic and decides to become a regional power , it industrializes quick and then it starts to build up it's infrastructure and education. With the money the country gains it decides to build a big indigenous military with power projection. BD uses that power projection to go to foreign nations in Africa like the Congo and try to build up their infrastructure while we take... we buy their resources aka like the ones to make computer parts. We might try to fund rebels in nearby Myanmar to gain future land. We become a colonizer , and we definitely want to colonize further so we make a space agency and fund it enough to start getting resources and a foothold on celestial bodies.

The end lol

We can do all 4 by

1) Firstly get the FDI money

2) Secondly use the money Industrialize the country

3) Thirdly became the next israel by having high quality weapons

4) Lastly set up Colony as we are unstoppable

Thank you Spaceman for your wonderful suggestion in this parliament. God Bless you.

 

[TOTUU]

This is the 21st century and BD does not need to follow exactly the same industrialisation path as those like Japan did in the 19th century and S Korea/Taiwan etc did in the 20th century.

It could do better but is doing ok and on balance will be able to pull itself out of the 3rd world by around 2035 according to all serious economic commentators.

Japan was strongly supported by Britain in the 19th century and by the United States after World War II. Similarly, South Korea was supported by the United States after the Korean War 。。。。 The U.S. gave Japan and South Korea a large number of technology licenses, loans, and domestic markets for U.S. allies.


After 1980, Japan's economy had threatened the U.S., so the U.S. increased its support for South Korea, for example, in the electronics industry, and the U.S. completely abandoned Japan, which caused Japan's electronics industry to decline extremely rapidly.


We see the rise of South Korea's Samsung, LG, Japan's Sony, Panasonic, Toshiba fell, is the embodiment of international politics. Huawei is now being suppressed and sanctioned by the United States is also the same, this is the international politics, it is not to see whose technology is advanced or not, but the political priority. For example, Japan is the most advanced and best in hydrogen cars, but the United States, the European Union and China do not accept this technical line, so this technology is not profitable.


Again, because of politics and geopolitics, Japan, the U.S., Korea, Europe. Because their focus is on China, they choose India. Their economic investment, political investment, certainly most of the investment to India, rather than Bangladesh, Pakistan, Nepal, etc..

The Chinese perspective is that - if China focuses on India - it will inevitably support India's neighbors like Bangladesh, Sri Lanka, and Pakistan.

The Chinese perspective is that - if China focuses on India - it is bound to support India's neighbors like Bangladesh, Sri Lanka, and Pakistan. Similarly, for Bangladesh, Sri Lanka, Pakistan, etc., they are bound to receive less support from the West and its vassal states than India, and have to move closer to China in order to balance India. So China and India's neighbors are bound to be close together politically and geopolitically. If an Indian neighbor does not come close to China, it will basically lose its rightful sovereignty, for example, Bhutan, Sikkim, Nepal.


Normal criticism and suspicion is fine, but if a Bangladeshi, Pakistani, Sri Lankan, Maldivian politician, media practitioner, slanders relations with China, it basically equates to damaging his own country's interests. The same is true for Chinese politicians and media, and people.

 

[bluesky]

Well Bangladesh isn't a easy nation to invest in , we must make it attractive for foreign companies to invest here if we want more FDI. Bangladesh needs these FDI desperately cause it needs to grow.

English of this opening news is very bad and is difficult to understand what really it wants to say. I read many times and found that BEZA and BEPZA will ask the GoB to provide funds and these two themselves will be building factories for what products no one knows.

It shows the GoB is not expecting FDIs anytime soon. But, why again this socialistic policy of building factories with govt money of $4.5 billion? It will just be another fruitless effort like it is with many such govt institutions as Railway, BRTC, or Jute Mills.

সরকার কা মাল, দারিয়া মে ডাল। Now, after comprehending the full meaning of this news I have lost all hopes of BD being developed. No way!!

 

[bluesky]

Japan was strongly supported by Britain in the 19th century and by the United States after World War II. Similarly, South Korea was supported by the United States after the Korean War 。。。。 The U.S. gave Japan and South Korea a large number of technology licenses, loans, and domestic markets for U.S. allies.

Bold part: Japan was already an industrial giant long before the 2nd WW. With this industrial might, it went ahead to conquer its nearby lands. It captured Taiwan in 1895, for example, and Korea in the 1890s.

I better not say about its war against China because you will not like it and I personally despise the Japanese attitude in China. However, we must admit Japan defeated the Russian naval fleet in the East Japan Sea in 1905 when Russia was the most formidable naval power of those days, much higher than the then British or French.

However, after WWll, the USA did not help Japan, a formidable Asian power, with financial loans. Its Marshal Plan was implemented to reconstruct Europe but not Japan. But, Japan was helped during the Korean war by the USA by asking Japan to provide/sell technology products in its war efforts in Korea. Please note that Japan was a technology country since the 1860s.

The same happened in the Vietnam war, Japanese industries supplied technology products to the US troops there.

Japan was benefited heavily and reconstructed its economy.

 

[TOTUU]

There's a couple ways Bangladesh can go the development route

সরকার কা মাল, দারিয়া মে ডাল। Now, after comprehending the full meaning of this news I have lost all hopes of BD being developed. No way!!

I replied to you all together.
Regardless of several routes, you have to start from the low end, all national development from low to high, trying to do directly to the high-end, which is very difficult and almost doomed to failure.

Seize the opportunity of industrial transfer from other countries. In the process of development, the industry that develops well is its own advantageous industry.

Japan and South Korea have grown with a lot of support from the United States. The United States did this not only to deal with China and the Soviet Union, but also to deal with the countries of Western Europe. By supporting the industries of South Korea and Japan, the United States has greatly weakened the industrial capacity of Europe. For example, Europe's shipbuilding, automobile, and electronics industries. Of course Japan and South Korea are also paying the price, they do not have complete national sovereignty, economic sovereignty.

China will also need some friendly countries to industrialize later to help China suppress the United States and Western Europe. Just like the US uses Japan and Korea to suppress China, Europe.

Like my reply above, the current international situation predetermines that the FDI in Bangladesh will not be high. Investment from Europe, America, Japan and Korea to Bangladesh will not be high. At the same time, India will also use various methods to prevent China from investing in India's neighboring countries, which certainly includes Bangladesh.