Comilla Export Processing Zone (, abbreviated as ''CEPZ'') is a

Special Economic Zone A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increas ...

of Bangladesh, located in the eastern city of

Bangladesh Bangladesh, officially the People's Republic of Bangladesh, is a country in South Asia. It is the List of countries and dependencies by population, eighth-most populous country in the world and among the List of countries and dependencies by ...

Cumilla Comilla (), officially spelled Cumilla, is a metropolis on the banks of the Gomti River in eastern Bangladesh. Comilla was one of the cities of ancient Bengal. It was once the capital of Tripura kingdom. Comilla Airport is located in the Duli ...

History

Establishment

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

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

The CEPZ hosts a variety of industries, including: * Textile and garments manufacturing. * Leather goods production. * Food processing units. * Electronics and other manufacturing sectors.

Objectives

* 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

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

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

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

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

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

{{coord, 23.4497, 91.1845, region:BD_type:landmark, display=title Special economic zones of Bangladesh