Special policy needed to draw investment in Uttara EPZ
Only 8 out of 154 plots allotted in five years despite its strategic location, business leaders say
The lone export processing zone in the northern region, Uttara EPZ, is free from hustle and bustle as it has failed to attract investors despite having all infrastructural facilities. Photo: STAR
Business leaders in greater Rangpur have demanded a 'special industrial policy' for the monga-prone area to attract investment in Uttara Export Processing Zone (Uttara EPZ) and create jobs. Uninterrupted power supply at subsidised rate, reopening of Syedpur airport for cargo flights and Chilahati-Holdibari rail link can boost local and foreign investments in Uttara EPZ and other sitable spots in the country. The products can find good markers in eastern Indian states, Nepal, Bhutan and even China, they said. President of greater Rangpur Chamber of Commerce and Industry Mostofa Azad Chowdhury also suggested soft bank loan for investors Uttara EPZ. The 13-15 per cent interest now charged by commecial banks is too high, whuch should be 8-10 per cent, he suggested. "A special industrial policy can bring momentum in Uttara EPZ which can play a very important role in development of the monga prone region," he said. The Uttara EPZ with an area of 230 acres was commissioned at Sangolsi village in Nilphamari district in 2002 with an initial target to ceatre employment for 50,000 people. But the EPZ could not draw the expected investment. Out of a total of 154, only eight plots have so far been allocated to eight investors, EPZ sources said. One of these, Uttara Sweater Mmanufacturing, a Chinese owned comoany, produces good quality sweaters for export. It employs to 1400 people. Kapric Electronics Ltd' a joint Indo-Bangla venture producing electrical capacitor provides employment to 200 people. Quest Accessories produce garments accessories and Northern Poly Industries produces polythene and Sunflower produces agricultural tools. Another garments factort--KP Internationalis coming up. Messers Diaz Spinning and Knitting Mill Ltd got a plat last month to set up a sweater factory and may go into production soon to provide jobs to 525 people. Talking to this correspondent, many investors said they lost interest to invest in Uttara EPZ due to lack of pipeline gas supply, which increases production cost. US expatiate Parvez Khan, owner of KP International, said there are lots of investors but they should be attracted. Parvez, a man from Nilphamari, said there are many prospective Bangladeshis in US who want to invest in the country. He said his knitting and agrobased industry would run without gas. EPZ officials said the Uttara EPZ is suitable for investment in over 20 types of industries like electrical and electronical goods, software, engineering goods, leather products, pharmaceutical products, medical instrument, plastic moulded products, jewellery and musical instruments. Project Director (PD) of Uttara EPZ Abdul Alim however said industries can be run run by furnace oil and electricity. Alim said rent for factory space is is only 1.25 dollars per square metre, which is almost half the amopunt in other EPZs in the country. He also cklaimed that good communication network and peaceful atmosphere are added attractions for Uttara EPZ. He firmly said that labour cost here is 25-30 per cent less than in the other EPZ's. The government is considering a proposal to exempt Jamuna bridge toll charge in transporting goods from the EPZ. Nilphamari Chamber vice-president Abdul Wahed suggested immediate cargo se vice from Syedpur airport to attract more foreign investment. He said the distance between Chilahati in Bangladesh and Holdibari in India is only 11.34 kilometres, of which, 8.10 kilometres are in Bangladesh territory. This rail link can be reopenerd with little cost.
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