Dhaka, 4 July 2007: The Industries Advisor underscored the need for a tripartite partnership among the Government, private sector and development partners to develop economic zones that will provide more and better jobs for lifting people out of poverty, while making the best use of scarce land and protecting the environment. She was addressing a high-level workshop and report launch co-hosted by the Board of Investment, the IFC Bangladesh Investment Climate Fund and the World Bank.
“The Government is fully supportive of the idea to provide efficient land, infrastructure, and services to industries and should seek to build public-private partnerships in special economic zones development and management”, Geeteara Choudhury, Advisor to Industries said during a launch of a World Bank Group report: Bangladesh: Piloting Reform through the Development and Management of Economic Zones at a hotel.
Xian Zhu, World Bank Country Director, James Crittle, Head of IFC Bangladesh Investment Climate Fund, and Md. Nazrul Islam, Executive Chairman of Board of Investment also spoke.
“Land is Bangladesh’s scarcest resource. Zones are one good way to ensure land is used productively and efficiently,” said Xian Zhu. He assured that the World Bank Group will continue to support the Government and private sector, “The World Bank and the IFC will collaborate to provide both infrastructure assistance around zones and advice on the right policies to capitalize on those investments.”
James Crittle of the IFC Bangladesh Investment Climate Fund noted that special economic zones can play an important role in ensuring a more geographically balanced industrial growth in the country. “EPZs in Bangladesh have been successful, attracting nearly $1.1 billion in total investment from 1983-2005, accounting for nearly 20% of annual exports and bringing in 25% of total FDI”, he said. “But there is even greater potential for impact on the economy.”
Md. Nazrul Islam said: “A good zones policy will guide and regulate balanced industrialization to attract more investment and at the same time help stop setting up of industries haphazardly.”
The report reviewed the status of the existing EPZs and industrial estates and recommend for policy reforms to leverage the benefits of public-private partnerships. Under such partnership, the public sector can allocate sufficient land for development of economic zones and provide necessary regulatory oversight, while the private sector may offer expertise in zone development and management. According to the report special economic zones account for 80% of exports in the Dominican Republic, while it brought 61% of total FDI in Malaysia.
Two panel discussions on the Potential Impact of Zones on the Economy and the Environment and Modalities of Zone Operation, included government officials, civil society and private sector representatives, including the head of Youngone’s Korean EPZ, the first private EPZ in the country.
Contacts: S.M.Rezwan-ul-Alam (880-2) 8159001 Ext. 4242 salam3@worldbank.org Jennifer Collier Wilson (880-2) 8833752-66 Ext. 221 jwilson1@ifc.org
|
RSS