An Export Processing Zone (EPZ) of Bangladesh ranked fourth as best economic potential in the global ranking and third in the best cost-competitiveness category.
The reputed UK-based "Foreign Direct Investment" (FDI) magazine carried out a survey among the world's 700 economic zones this year and ranked Bangladesh's Chittagong Export Processing Zone (CEPZ).
"FDI has recognized our efforts in only one-and-a-half years of the present government," said Executive Chairman of Bangladesh Export Processing Zone Authority (BEPZA) Jamil Ahmed Khan to the news agency.
Commenting on the success, Jamil Ahmed described BEPZA's recognition as one of the major achievements and said right directives of Prime Minister Sheikh Hasina and the government's cooperation contributed a lot to attain the success.
This success clearly manifests that an investment-friendly atmosphere is now prevailing in the country, he said, and hoped that this would help encourage more FDI in Bangladesh.
Jamil Ahmed said BEPZA has come a long way since its inception 27 years ago by increasing the volume of investment, diversification of exports, creation of employment opportunities and strengthening the economic base of Bangladesh.
About workers' welfare, BEPZA executive chairman said the existing industrial relations act was revised for EPZ workers welfare. EPZ workers can go directly to the Workers Association (WA), which was not possible in the past.
The country has eight EPZs and the actual investment of the EPZs stood at US $221.99 million in 2009-10 financial year, which is a 49.96 percent higher growth rate than the same period of the 2008-09 fiscal. The actual investment was US $148.03 million during the 2008-09 financial year.
Besides, exports from EPZ registered at US $2822.54 million, which registered a rise by 9.33 percent higher than previous year.
As many as 2.69 lakh people are directly and over five lakh people are indirectly engaged in 352 industrial units in all the EPZs, which contributes 18 percent to the national export, BEPZA sources said.