Governing body of the Korean Export Processing Zone (KEPZ) has announced plans to expedite land registration and simplify bond licensing to transform the industrial park into a hub for foreign direct investment.
A meeting of the KEPZ governing body, chaired by Chief Adviser Professor Muhammad Yunus, was held at his Tejgaon office in Dhaka, marking the first such session led by the head of state in nine years, according to a statement from the Chief Adviser’s Office.
Key topics discussed included land rights, port and customs operations, labor laws, and investor support mechanisms. The committee resolved to finalize the land transfer to KEPZ swiftly, implement the authorized economic operator model, streamline bond licensing procedures, and initiate discussions on labor law reforms.
A significant decision was made to decentralize KEPZ’s administration, transitioning oversight from the Chief Adviser’s Office to the Bangladesh Economic Zones Authority (BEZA), to accelerate services and empower local management. These reforms aim to signal to global investors that Bangladesh is committed to fostering a business-friendly environment.
KEPZ, operated by Youngone Corporation, employs over 34,000 workers across 48 advanced industrial units. Notably, 52% of its 2,500-acre area is preserved as green space. These steps are expected to bolster investor confidence and enhance Bangladesh’s appeal as a business destination.
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