Staff Reporter :
Chief Adviser Professor Dr Muhammad Yunus on Tuesday emphasised the need to unify all investment promotion agencies to attract greater foreign investment into the country.
He also urged the resolution of the land rights issue concerning the Korean Export Processing Zone (KEPZ) by early next month. The directives were issued during a meeting at the State Guest House Jamuna with Kihak Sung, Chairman of Youngone Corporation, and other prominent foreign investors.
Kihak Sung, whose South Korean company is Bangladesh’s largest exporter, highlighted various challenges impeding foreign direct investment (FDI) and called on the chief adviser to improve the environment for large-scale investments.
In response, Dr Yunus assured Sung that the KEPZ land issue, a significant barrier to FDI in the industrial park, would be resolved by 6 February. “We envision the Korean EPZ as a model for Bangladesh, attracting substantial investments and generating significant employment opportunities,” Dr Yunus stated.
Kihak Sung commended the interim government’s swift action to address the longstanding issues surrounding KEPZ, noting that this would encourage more Korean investors to consider Bangladesh. “This step will pave the way for other investors, positioning KEPZ as a benchmark for investment,” he remarked.
The Youngone Chairman also stressed the importance of expediting shipments through Chittagong Port, citing delays as a critical factor limiting high-end and fashion clothing orders from global brands. “Fashion clothing requires rapid export, ideally within 10-15 days,” he explained, adding that prolonged shipping times often result in missed opportunities for premium orders.
