Patuakhali EPZ Project Aims for $1.53 Billion Foreign Investments and Economic Growth. Bangladesh is gearing up for the establishment of its ninth Export Processing Zone (EPZ) in Patuakhali, with the primary objective of attracting foreign investments amounting to $1.53 billion and boosting exports by an additional $1.84 billion. The Bangladesh Export Processing Area Authority (BEPZA) is set to implement the project, with a proposed budget of Tk1,475 crore, and has already submitted the development project proposal to the Planning Commission for approval.
BEPZA officials are keen on commencing the implementation work as soon as possible, following the approval process. The opening of the Padma Bridge has expanded investment opportunities in the southern region of the country, with two nearby seaports, Payra and Mongla, making Patuakhali an attractive investment destination. Discussions with potential investors regarding an EPZ in the Barishal zone have already begun, and there is a positive verbal interest expressed by investors in that area, according to Nazma Binte Alamgir, the executive director (Public Relations) at BEPZA.
A comprehensive feasibility study has identified 418 acres of land in Patuakhali’s Pocha Koralia and Kuakata, suitable for developing 306 industrial plots within the proposed EPZ. The project is projected to generate employment opportunities directly for 100,000 Bangladeshis, while an additional 200,000 people will find indirect employment.
Once the project progresses further, foreign investors will be officially invited to invest in the Patuakhali EPZ. The proposal is currently under review by the Planning Commission, with the project evaluation committee meeting scheduled for July 5, following the Eid holidays. Subsequently, the proposal will be presented to the Executive Committee of the National Economic Council (Ecnec) for final approval.
Upon receiving Ecnec approval, the land acquisition process will commence, paving the way for the main construction work. The target completion date for the project is set for June 2026. The project expenses will be funded through a government loan at a favorable interest rate of 2%.
The EPZ project in Patuakhali aims to develop environmentally friendly industrial plots, along with providing necessary facilities and amenities for investors. BEPZA, established in 1980, manages all the EPZs in Bangladesh under the Prime Minister’s Office. Currently, there are eight EPZs in the country, contributing significantly to its economic growth. These EPZs collectively host 456 industries, attracting investments exceeding $6.04 billion and producing export goods valued at $95.87 billion annually.
The EPZs have played a pivotal role in the country’s development, facilitating the establishment of satellite towns and the growth of supporting industries such as transportation, food supply, markets, educational institutions, and hospitals. The EPZs have also provided employment opportunities to over 500,000 skilled workers engaged in the manufacturing of diverse products for renowned global brands.
