Karnaphuli EPZ in Ctg attracts foreign investment

 
The EPZ was inaugurated by then-Prime Minister Begum Khaleda Zia on September 12, 2006.
 
Covering an area of 209 acres in North Patenga, it stands as the second EPZ in the city. At present, 39 out of its 46 factories are operating at full capacity, providing jobs for over 80,000 individuals.
 
A significant portion of the workforce -- at least 60 percent – consists of women.
 
Karnaphuli EPZ is equipped with state-of-the-art infrastructure and is strategically located near the country’s primary seaport, various off-docks, and Shah Amanat International Airport.
 
As a result, it offers benefits such as efficient global shipping, reduced lead times, and a competitive business environment. Products labeled 'Made in Bangladesh' that are produced here are receiving international recognition.

A diverse array of goods -- including garments, tents, jackets, leather products, bicycles and accessories, furniture, and footwear -- are manufactured and exported by both local and foreign-owned enterprises.
 
The EPZ contains 258 industrial plots, with investments surpassing $786 million and export revenues estimated at around $14 billion. Countries investing in this venture include China (including Hong Kong and Taiwan), the UK, the Netherlands, Malaysia, South Korea, Japan, the USA, Sri Lanka, India, Canada, and Bangladesh.
 
Historically, the Chattogram Steel Mills in Patenga was a significant industrial powerhouse during the 1960s, contributing substantially to the nation’s early infrastructure and development. However, production halted in the late 1990s; the coastal facility sustained extensive damage during the catastrophic cyclone of 1991 and was permanently shut down in 1999. Following this, the government launched a new industrialization initiative at the site under BEPZA.
 
After successfully navigating numerous challenges, the land of the steel mill was officially transferred to BEPZA in 2004. Since its opening, this Export Processing Zone (EPZ) has significantly changed the entire area. Individuals from all over the nation have come here in search of job opportunities. Thanks to the diligent efforts of the workforce utilizing modern machinery and technology, the zone has become a substantial source of foreign currency revenue. So, the living standards of the workers are on the rise.
 
Compliance with regulatory standards and various international protocols guarantees that these EPZs are both worker-friendly and environmentally sustainable.

Initially, a medical center was established for the benefit of Karnaphuli EPZ workers, which has now been upgraded to a comprehensive hospital; currently, eighteen doctors are providing medical services, and medications are also available. Additionally, arrangements have been made for the education of the children of the workers.
 
Mahbub Ahmed Siddique, the Executive Director of Karnaphuli EPZ, informed BSS that the zone occupies a significant position in the history of the country's export-oriented industrialization. Moving beyond a sole dependence on the garment industry, it has encouraged a variety of industrial ventures, thereby contributing a new aspect to the nation's sustainable economy and generating diverse employment opportunities, reports BSS.

"We expect the workforce to grow to one hundred thousand as new industrial units commence operations," he stated, adding that foreign investment and export revenues are also projected to rise.