Economic zones to create 1cr jobs, boost export by $40 billion

[Black_cats]

Economic zones to create 1cr jobs, boost export by $40 billion
174

DHAKA, Dec 19, 2018 (BSS) – The government is eyeing to generate some one crore employment opportunities and boost export earnings by around $40 billion through the establishment of countrywide 100 economic zones by 2030.

“The government is working to create some one crore employments and boost export earnings by another $40 billion through establishing these 100 economic zones across the country by 2030 under the dynamic leadership of Prime Minister Sheikh Hasina,” an official of the Planning Ministry told BSS here today.

He said the government approved some 79 economic zones including 56 public and 23 private economic zones till June 2018.

According to the ministry information, the government has undertaken various realistic steps to ensure fast industrialization, generate employments and boost production and export earnings.

In order to increase industrialization and create employment, the government approved 600 industrial enterprises for setting up their industries in eight export processing zones till June 2018.

These industries are being set up at these export processing zones (EPZs) — Chattogram, Dhaka, Cumilla, Mongla, Ishwardi, Uttara-Nilphamari, Adamjee and Karnaphuli.

In the fiscal year 2017-18, export earnings by the EPZs totaled $7,208.27million through exporting various goods.

The Bangladesh Export Processing Zones Authority (BEPZA) gained a staggering 200.93 percent growth from the 2009-2018 period through investing $3,000.83 million.

Besides, the government increased the minimum wages of the EPZ workers twice up to 60 percent over the last 10 years.

The government also enacted The EPZ Workers Welfare Association and Industrial Relations Act, 2010 aimed at protecting the rights of the workers in the EPZ.

Besides, process is also underway to develop the main export earning sector RMG, develop the light and medium industries, improve the quality of local produced items as well as steps are also underway to diversify the exportable items through ensuring excellence and control, and improving the quality of products into international standards.

http://www.bssnews.net/?p=137876

 

[HariPrasad]

Bangladesh is a beautiful country and often in news for good reason. My thumbs up for Bangladesh.

 

[SunilM]

Yeah.What they are doing is just fantastic.

 

[Mage]

Is this Awami League's reply to BNP's manifesto of increasing GDP growth to 11%?

They haven't even developed the zones yet and dreaming of $40bn export boost????
No point creating 1crore jobs if the pay of those jobs are 8,000-12,000 taka like they pay fresh graduates nowadays.

 

[bluesky]

Is this Awami League's reply to BNP's manifesto of increasing GDP growth to 11%?

They haven't even developed the zones yet and dreaming of $40bn export boost????
No point creating 1crore jobs if the pay of those jobs are 8,000-12,000 taka like they pay fresh graduates nowadays.

স্যার, ভয়ও কইরেন না, আর ভরসাও কইরেন না। উভয় পক্ষই এখন ভোটের আশায় আবোলতাবোল বকতাছে। ক্ষমতায় আসার পর তারা তাদের মেনিফেস্টো ভুইল্লা যাইবো। তবে, মনে হইতাছে বড় বড় শিল্পপতিরা আওয়ামী লীগের পক্ষে আছে। মালিক পক্ষে থাকলে তাদের কর্মচারীরাও পক্ষে থাকে সাধারণত।

However, the important point is the creation of jobs. Govt has also a function here but more has to be done by the industrialists. So, it is possible to create many jobs, not 1 crore, if many industries are set up in the country and many civil engineering projects are undertaken by the govt. So far, I have not seen any eagerness by the govt or private owners to do this.

About salary. It always depends upon demand and supply of manpower just like a commodity. However, important thing is to create jobs where people can work and earn money. A day will come when their salary will increase when less number of labor is available to fill the vacancies and productivity per labor goes up.

 

[Bilal9]

Is this Awami League's reply to BNP's manifesto of increasing GDP growth to 11%?

They haven't even developed the zones yet and dreaming of $40bn export boost????
No point creating 1crore jobs if the pay of those jobs are 8,000-12,000 taka like they pay fresh graduates nowadays.

https://defence.pk/pdf/threads/40-billion-export-target-ambitious-or-lackluster.564378/

Interesting video on BEZA facilities (Bengali only)

 

[Mage]

https://defence.pk/pdf/threads/40-billion-export-target-ambitious-or-lackluster.564378/

Interesting video on BEZA facilities (Bengali only)

Nice video, Bilal bhai....Our inability to find other export sector barring RMG, worries me. The country is not gonna be developed on Garments. Garments can only take it from beggar to poor. Other sectors not emerging even when our exports increase it is fueled by growth in garments sector.

 

[fiza200]

When Pakistan will start creating 1 cror Jobs ?

 

[Tigers]

Nice video, Bilal bhai....Our inability to find other export sector barring RMG, worries me. The country is not gonna be developed on Garments. Garments can only take it from beggar to poor. Other sectors not emerging even when our exports increase it is fueled by growth in garments sector.

This is how everyone starts. China started with garments so did Vietnam. What matters is that there is interaction between local and foreign businesses. More opportunities will come in time.

 

[Mage]

This is how everyone starts. China started with garments so did Vietnam. What matters is that there is interaction between local and foreign businesses. More opportunities will come in time.

Vietnam's total exports are 200 billion and garments are like less than 20% of their total exports. It is pointless to compare with them at our current state.

 

[Tigers]

Vietnam's total exports are 200 billion and garments are like less than 20% of their total exports. It isnl pointless to compare with them at our current state.

Doesn't change the fact that Vietnam started out with garments sector and then branched out to footwear which is one of their major exports now. The most important step in this process is the interaction between local and foreign businessmen which could lead to other avenues for collaborations.

 

[Mage]

Doesn't change the fact that Vietnam started out with garments sector and then branched out to footwear which is one of their major exports now. The most important step in this process is the interaction between local and foreign businessmen which could lead to other avenues for collaborations.

Some of you think exports will increase magically because it happened to Vietnam and China. While you guys overlook the measures taken by them. How interaction will increase business if there is no skill or business environment in the country? We are a country of 160 million without any car manufacturer. Says a lot about our industrial ability. Look at the education and skill/expertise level/productivity of average Vietnamese or Chinese workers. Not comparable with ours whose only notable skill is to stitch clothes. You can interact with foreigners as much as you want. And build as many things as possible with foreign loans and expertise. But without developing skill of local population the country is never going to prosper.

 

[bluesky]

Nice video, Bilal bhai....Our inability to find other export sector barring RMG, worries me. The country is not gonna be developed on Garments. Garments can only take it from beggar to poor. Other sectors not emerging even when our exports increase it is fueled by growth in garments sector.

Garments grew bigger step by step with not so high investment, technology, and govt support. It came out with the efforts of the private people with little money to invest initially. They invested mostly their effort and labor and now it has become a very large tree.

But, many other sectors are technology-intensive that require heavy investment in high technology, and govt support/initiative. You have to add many other things together as if it is a machine that will not function if a little bolt is missing. But, knowing the quality of political people at the top, I am not sure when they will make it happen.

I think FDI is a way to fill in the gap in money and technology. But, it is not coming to BD shore in large scale. However, when our export volume reaches to, say, $50/60 billion someday, there is a strong possibility that the foreigners will trust the economic future of BD and will invest in a large scale. I believe they are watching now.

সবাই তেলে মাথায় তেল দিতে চায়। গরিব আত্মীয়কে কেউ ব্যবসার জন্য পয়সা দিয়ে সাহায্য করেনা, তবে খয়রাত দেয়। বাংলাদেশের অবস্থাও এ রকম।

 

[Mage]

Garments grew bigger step by step with not so high investment, technology, and govt support. It came out with the efforts of the private people with little money to invest initially. They invested mostly their effort and labor and now it has become a very large tree.

But, many other sectors are technology-intensive that require heavy investment in high technology, and govt support/initiative. You have to add many other things together as if it is a machine that will not function if a little bolt is missing. But, knowing the quality of political people at the top, I am not sure when they will make it happen.

I think FDI is a way to fill in the gap in money and technology. But, it is not coming to BD shore in large scale. However, when our export volume reaches to, say, $50/60 billion someday, there is a strong possibility that the foreigners will trust the economic future of BD and will invest in a large scale. I believe they are watching now.

সবাই তেলে মাথায় তেল দিতে চায়। গরিব আত্মীয়কে কেউ ব্যবসার জন্য পয়সা দিয়ে সাহায্য করেনা, তবে খয়রাত দেয়। বাংলাদেশের অবস্থাও এ রকম।

Export will probably reach like $45 billion this year. Fuelled by Garments. $50 billion is not far fetched in a couple of years. But I don't see mass investments pouring in to Bangladesh.

I remember Tofail said total exports will reach $60 billion and IT exports will be $5 billion by 2021..but what is happening? 60 billion expectation will fall short by 10 billion. And even if it somehow reach the target of 60 billion it will be because of RMG. IT exports will not even reach $2 billion.

 

[Tigers]

Some of you think exports will increase magically because it happened to Vietnam and China. While you guys overlook the measures taken by them. How interaction will increase business if there is no skill or business environment in the country? We are a country of 160 million without any car manufacturer. Says a lot about our industrial ability. Look at the education and skill/expertise level/productivity of average Vietnamese or Chinese workers. Not comparable with ours whose only notable skill is to stitch clothes. You can interact with foreigners as much as you want. And build as many things as possible with foreign loans and expertise. But without developing skill of local population the country is never going to prosper.

Automotive is one of the most competitive sectors with supply chains spanning the globe. You don't start a car manufacturing business unless you have everything from tire to headlight locally available at the most competitive rate. Otherwise, you are just slapping Made in Bangladesh on a car with Chinese, Thai or Vietnamese manufactured parts.

Garments grew bigger step by step with not so high investment, technology, and govt support. It came out with the efforts of the private people with little money to invest initially. They invested mostly their effort and labor and now it has become a very large tree.

But, many other sectors are technology-intensive that require heavy investment in high technology, and govt support/initiative. You have to add many other things together as if it is a machine that will not function if a little bolt is missing. But, knowing the quality of political people at the top, I am not sure when they will make it happen.

I think FDI is a way to fill in the gap in money and technology. But, it is not coming to BD shore in large scale. However, when our export volume reaches to, say, $50/60 billion someday, there is a strong possibility that the foreigners will trust the economic future of BD and will invest in a large scale. I believe they are watching now.

সবাই তেলে মাথায় তেল দিতে চায়। গরিব আত্মীয়কে কেউ ব্যবসার জন্য পয়সা দিয়ে সাহায্য করেনা, তবে খয়রাত দেয়। বাংলাদেশের অবস্থাও এ রকম।

Exactly right. Big investors won't drop $20 billion on a country based on a government or industry presentation. It takes years to build trust and test the fundamentals of an economy. Vietnam was on the radar for so long but only took off in the last 10 years after it secured several multilateral and bilateral FTA.