Cumilla Export Processing Zone
 | This article relies largely or entirely on a single source. (November 2024) |
_in_2021.03.jpg) Gateway to the zone | |
Native name | কুমিল্লা রপ্তানি প্রক্রিয়াকরণ অঞ্চল |
|---|---|
| Company type | Export Processing Zone |
| Industry | Industrial / Export Manufacturing |
| Founded | 2000 (24 years ago) |
| Founder |  Government of Bangladesh |
Number of locations | Cumilla |
| Products | Textiles, Leather Goods, Food Products, Electronics |
| Services | Export-oriented manufacturing services |
Number of employees | 50,086[1] |
| Parent | Bangladesh Export Processing Zone Authority (BEPZA) |
| Website | Cumilla EPZ Official Website |
Comilla Export Processing Zone (abbreviated as CEPZ) is a Special Economic Zone of Bangladesh, located in the eastern city of Bangladesh, Cumilla.[2]
History
[edit]Establishment
[edit]The Cumilla Export Processing Zone (CEPZ) was established in 2002 as part of a government initiative to promote export-led economic growth in Bangladesh. It was created to attract foreign direct investment (FDI) and facilitate industrialization in the region.
Development
[edit]Since its inception, the CEPZ has experienced significant growth, attracting numerous local and foreign companies. Infrastructure improvements have also played a crucial role in its development, contributing to its status as a key industrial hub in the region.
Industries
[edit]The CEPZ hosts a variety of industries, including:
- Textile and garments manufacturing.
- Leather goods production.
- Food processing units.
- Electronics and other manufacturing sectors.
Objectives
[edit]- To attract foreign direct investment (FDI).
- To promote export-oriented manufacturing.
- To create employment opportunities in the region.
- To enhance Bangladesh's overall industrial capacity.
Operations
[edit]The CEPZ operates primarily in the export manufacturing sector, hosting a variety of industries including textiles, leather goods, food processing, and electronics. It provides a conducive environment for businesses to operate and export their products.
Economic impact
[edit]The CEPZ has made significant contributions to the local and national economy by:
- Generating substantial export revenue.
- Creating thousands of jobs for local workers.
- Contributing positively to the country's GDP through industrial output.
Governance
[edit]The Cumilla Export Processing Zone is managed by the Bangladesh Export Processing Zones Authority (BEPZA), which oversees the administration and operations of all export processing zones in the country. BEPZA implements policies to support and regulate the zone's activities.
Challenges
[edit]Despite its successes, the CEPZ faces several challenges:
- Infrastructure issues, including traffic congestion and the need for ongoing maintenance.
- Competition from other export processing zones in Bangladesh and the region.
- Regulatory challenges regarding compliance with international standards.
Future prospects
[edit]The CEPZ aims to expand its facilities and attract new investments in the coming years. It focuses on sustainable industrial practices and the diversification of industries to remain competitive in the global market.
References
[edit]- ^ "Year Wise Employment". Bepza. Retrieved 5 November 2024.
- ^ "Cumilla EPZ". Archived from the original on 2015-06-19.