Bepza, StanChart team up to attract investment to EPZs

Bangladesh Export Processing Zones Authority (Bepza) and Standard Chartered yesterday signed a memorandum of understanding (MoU) to enhance mutual cooperation to attract more investment for the export processing zones.

Standard Chartered will support Bepza to organise various trade and investment-related conferences, seminars, roundtable meetings and exhibitions at home and abroad, according to a statement released by the bank.

Ali Reza Mazid, member of Bepza, and Enamul Huque, managing director and head of client coverage, corporate commercial and institutional banking at Standard Chartered, signed the MoU at Bepza Complex in Dhaka.

Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman and Standard Chartered CEO Naser Ezaz Bijoy witnessed the signing ceremony.

"If we work jointly definitely the efforts will be much more effective for both of us in exploring new investment," said Bepza executive chairman.

"Our strength is our 40 years of experience. We have the expertise to facilitate new investment compared to other organisations," he said.

Rahman also hoped that this partnership will be helpful for Bepza in organising an investment promotion programme by using Standard Chartered's unique global network.

The StanChart Bangladesh's CEO said Bepza has been a transformational driver in accelerating export growth for Bangladesh since its founding.

"Under its foresightful patronage, the EPZs have been creating new employment opportunities despite the pressure exerted by the advent of the Fourth Industrial Revolution, while enabling much needed foreign currency inflows, helping meet growing external obligations."