Dhaka: The governing body of the Korean Export Processing Zone (KEPZ), led by Chief Adviser Professor Muhammad Yunus, has decided to expedite the land registration process and simplify the bond licensing procedure to transform the industrial park into a hub for foreign direct investment. This decision was made during a meeting at Yunus's office in Tejgaon, marking the first such gathering presided over by the head of the government in nearly a decade. According to Bangladesh Sangbad Sangstha, the KEPZ meeting addressed a range of significant issues, including land rights, port and customs operations, labor laws, and investor support mechanisms. The committee resolved to accelerate the completion of the remaining land handovers to KEPZ, implement the authorized economic operator model, streamline bond licensing, and initiate discussions on labor law reforms. A notable decision from the meeting was the unanimous agreement to decentralize authority and expedite services by transferring KEPZ from the Chief Advi ser's Office to the Bangladesh Economic Zones Authority (BEZA). This move is anticipated to signal to the global investment community that Bangladesh is ready for business. Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of BIDA and BEZA, emphasized the importance of supporting existing investors to turn them into ambassadors for the country. He highlighted the formation of a special SWAT team within BIDA to identify and resolve key challenges faced by KEPZ, stating, "We wanted to set an example. And today's successful meeting demonstrates government can also execute in pace." Lutfey Siddiqi, the Chief Adviser's Special Envoy for International Affairs, remarked on the meeting's outcomes, saying, "Today's result illustrates a new style of government that operates with clear intent and focused execution. We hope that a virtuous cycle of feedback and responsive reforms will make many of the grievances about our investment climate out of date very soon." KEPZ, which is primarily managed by Youngone Corpor ation, currently provides employment to over 34,000 Bangladeshis across 48 advanced industrial units. Additionally, 52% of the 2,500-acre area is reserved for green spaces.
