Sky Bees to Build Tk 550 Crore Drone Factory in Bangladesh

Bangladesh Export Processing Zones Authority (BEPZA) has signed a lease agreement with Bangladesh Prothoma Power Supply Ltd., a Chinese firm, to set up a battery plates manufacturing plant in the BEPZA Economic Zone (EZ).

The Bangladesh Bank (BB) recently revised its net foreign direct investment (FDI) data for the period from fiscal 2019-20 to 2022-23, revealing an overstatement of $5.7 billion. This correction followed observations by the International Monetary Fund (IMF) and was conducted to align with the IMF's BPM6 guidelines.

The governing body of the Korean Export Processing Zone (KEPZ), led by Chief Adviser Prof Muhammad Yunus, held its first meeting in nine years to enhance the park’s appeal as a foreign direct investment hub.

Bangladesh BaoRui Textile Co Ltd, a Chinese company, will invest $19.53 million in the Mongla Export Processing Zone to establish a composite textile manufacturing industry. An agreement was signed between Bangladesh Export Processing Zones Authority (BEPZA) and the company, with BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman present at the ceremony.

At a seminar on November 26, 2024, experts highlighted major concerns of Japanese businesses investing in Bangladesh, with over 70% citing risks like underdeveloped legal systems, time-consuming tax procedures, political instability, and unclear government policies. According to the Japan External Trade Organisation (Jetro), 77.1% of businesses identified legal inefficiencies, while 74.7% highlighted administrative challenges.

The Executive Chairman of the Bangladesh Investment Development Authority (BIDA) has extended an open invitation to China-based manufacturers to invest in Bangladesh, highlighting the country's readiness to become a key destination for relocating or diversifying manufacturing operations.