Bangladesh Economic Zones Authority (BEZA) has received an accolade for its outstanding contributions to the country’s economy through developing economic zones.
The World Free and Special Economic Zones Federation (FEMOZA), a Geneva-based non-profit organization, has awarded BEZA for its best practices in its activities.
President of the Federation Juan Torrents handed over the award to BEZA Executive Chairman Paban Chowdhury at a ceremony on Thursday, the second day of three-day ‘World Free and Special Economic Zones Summit’.
The summit, organized by the FEMOZA, was held in Monaco, a European country.
Representatives of the economic zone authorities from different countries, including Bangladesh, Russia, Thailand, Belarus, Honduras, South Africa, Egypt and Ethiopia, joined the summit.
Taking part in the summit, Paban Chowdhury highlighted various aspects of BEZA before the international delegations.
“BEZA has been transforming the economic zones (EZs) with cordial efforts of allied government agencies,” he said.
Contacted, Mr Chowdhury told the FE that the award is an appreciation for what the government agency has done so far.
“BEZA has done a commendable progress in framing laws, rules, policies and guidelines for establishing sustainable economic zones,” he said.
The BEZA is establishing the largest EZ in the region as well as developing a Land Bank for the entrepreneurs, he added.
Bangladesh Economic Zones Authority (BEZA) announces the official inauguration of One Stop Service Centre (OSSC) on October 21, 2019 at Pan Pacific Sonargaon Hotel in Dhaka with the presence of Mr. Salman Fazlur Rahman MP, Private Industry and Investment Advisor to the Honorable Prime Minister as the Chief Guest.
In partnership with 14 different ministries and departments, BEZA OSSC offers a total number of 125 government services , where unit investors of Economic Zones(EZs) can accomplish all the processes for investing in any EZ, from application up to receipt of the necessary licenses and approvals at a single place. It also provides online services, and the number of online services will gradually increase within a short time.
By establishing BEZA OSSC, located on the 11th floor of the Monem Business District at Karwan Bazar, investors have got relieved of visiting different ministries and departments to obtain required licenses and approvals. The officers from BEZA and concerned ministries/ departments provide detailed consultation and information services to the investors from BEZA OSSC and can organize required inspections for the investors before starting their business operation.
“In Bangladesh, we have a global standard legal framework, investment friendly policy support from the government, very competitive incentive package, and now we have established a global standard OSSC at BEZA. We invite foreign investors to take the benefits of OSSC, the land bank of about twenty thousand hectors and the services from our dedicated team to help grow their business in Bangladesh.” says, the Executive Chairman of BEZA, Mr. Paban Chowdhury.
Japan International Cooperation Agency (JICA) supports the establishment of BEZA OSSC under a technical cooperation project called the “Project for Promoting Investment and Enhancing Industrial Competitiveness in the People’s Republic of Bangladesh”. The project aims to establish the linkage between foreign and domestic manufacturing industries through the activities aiming at improving business environment and enhancing investment promotion activities, for strengthening economic zones operation and technical capacity building of Bangladeshi manufacturing industries.
All the services at BEZA OSSC are provided according to the Standard Operating Procedures (SOPs) which describe the detailed procedures for issuing each license/approval. BEZA wishes to secure transparency and accountability for both domestic and foreign investors through the operation of BEZA OSSC. With the assistance from Prime Minister’s Office, BEZA OSSC is committed to promote foreign direct investment and establish reliable business linkages between local and foreign companies, thereby contributing to further economic development of Bangladesh.