70 foreign investors visit KEPZ in Chattogram

CHATTOGRAM,  Apr 7: The Korean Export Processing Zone (KEPZ), Bangladesh's first foreign export processing zone, is situated at Anowara in Chattogram district. It has already developed approximately 2,290 acres of land for industrial establishments, with 48 industries currently in operation, employing around 31,000 workers. Once fully operational, KEPZ is expected to create over 70,000 jobs. The industries within the zone include shoe manufacturing and ready-made garments, among others, with 18 large factory buildings currently under construction.

Youngone Corporation of Korea first proposed the establishment of KEPZ in 1996, selecting the left bank of the Karnaphuli River for its location. According to the proposal, the zone spans 2,492 acres and is expected to accommodate 150 small and medium-sized industries alongside 30 large-scale key industries. Initially, the gross production value of KEPZ was estimated at Taka 54 billion per annum, with a net value of Taka 18 billion per annum. The project profile outlines ambitious plans, including a container park, jetty, modern science park and research centre, five-star hotel, golf course, artificial lake, airport, banks, power generation facilities, an international hospital, residential areas, educational institutions, training centres, shopping complexes, post office, customs shed, and fire station. With full implementation, the zone anticipates housing around 200 industries, including 50 heavy industries, and creating direct employment opportunities for 100,000 workers, along with indirect employment for an additional 200,000, totalling approximately 300,000 jobs.

Development and plot preparation work began in October 1999, following the project's inauguration by the then Prime Minister. On Monday, about 70 investors from South Korea, China, Japan, Australia, India, and the Netherlands visited KEPZ to examine its facilities. Kihak Sung, President of Youngone Corporation, welcomed them at the site, highlighting KEPZ as a model for private industrial zones in Bangladesh, fostering export-driven industries and attracting foreign direct investment. The zone is committed to high-tech industrial development, featuring 48 green-certified factories spanning 7 million square feet, along with advanced logistics and warehousing facilities.

Strategically positioned along the left bank of the Karnaphuli River, KEPZ is just a 15-minute drive from Chattogram's Shah Amanat International Airport via the Karnaphuli Tunnel, making it Bangladesh's largest privately owned and eco-friendly export processing zone. Addressing visiting foreign investors, Youngone Corporation Chairman Kihak Sung, a pioneer in Bangladesh's ready-made garment and textile sectors, encouraged them to consider Bangladesh as a future investment destination. He invited them to invest in KEPZ and beyond, taking advantage of the opportunities available.