In order for foreign investors to invest in industries the export processing zones (EPZ) have been set up by the government to facilitate foreign investment and development of the industrial sector.
Foreign investors, entrepreneurs, want to feel safe for their investment in any environment. They want assurance of their goals, projects, safety and security to match with their investments. Due to this the ‘Export Processing Zones’ have been set up all across the country to provide the necessary facility and assurance to improve the industrial sector of the country.
EPZ not only provide the necessary infrastructure and plots but also provide host of other facilities which are essential for any international businesses. Ensuring compliance of enterprises, social and environmental goals, safety and security, and the efficiency of running an industrial ecosystem.
Investors can setup their factory in those zones whether they are 100% foreign owned, or in a joint venture, or local venture. They will have access to all the tools necessary to run an export oriented enterprise. Having both customs, c&f agents, as well as access to banking for both locals and foreigners it is specially geared to cater to such industry.
Another important benefit that industries can have is ‘tax holiday’, each zone will have different tax schemes to attract the best investors. In addition to such tax holiday, there will be duty free access to raw materials, machinery, and warehouse storage facility.
For staff working in such areas will be extremely beneficial as there are living quarters arranged within that zone that will save them in transport cost and time. All other amenities are provided for staff such as medical center, schools, canteen, professional training. Following safety and security procedures staff are in a safe working conditions.
Ensuring that factories follow sustainable goals, all factories have access to waste treatment. EPZ is also utilizing clean energy by implementing renewable energy such as solar. Utilizing such technology and ensuring world class compliance and having tax breaks will ensure that investment continues to grow in the country.
If you would like more information about ‘export processing zones’ then please check the site bepza.gov.bd