New economic zones

It is not without reason that countries like Vietnam, Myanmar and China have opted to set up special economic zones (SEZs) replete with physical infrastructure including power, road and rail connectivities to woo foreign investment. It is rather sad that our policy makers have been dithering on the planned formation of SEZs despite having numerous examples of such zones in the region. There are not even a dozen in existence in the country while Vietnam has 400.
From the perspective of investors, it makes sense to set up factories in SEZs. Not only do such centers provide the physical infrastructure needed for smooth operation, there is also the issue of protecting the investment made. We should not be under any illusion that because our incentives package is attractive foreign investors would be automatically drawn to us. Of fundamental importance are infrastructure and political stability.
The laid back attitude is inexplicable.  Having enacted the Bangladesh Economic Zones Act in 2010, hardly any work has been done to facilitate establishment of SEZs in the past three years. With such slow progress, apprehensions are already being voiced that the first zone may not be completed by 2016. With Myanmar already in the race to provide better road and rail links and its deep sea port also coming up, chances of the much talked about billions of dollars in foreign investment, particularly in the RMG sector might elude Bangladesh if our decision-makers do not pull up their socks and give SEZ the priority deserves not on paper but in action.