Korean EPZ in Anowara Chittagong

Bangladesh Government and Republic of Korea agreed to setting up the first ever EPZ of the country, developed by a foreign entrepreneur, named Korean Export Processing Zone (KEPZ). The Export Processing Zone was developed by a foreign ‘Yonugone Corporation’ in Chittagong district. Total land area for the EPZ is around 2,092 acres of land. Located in Anowara on the south bank of the river Karnaphuli and it has so far implemented 95 per cent of the development plan on an area of 2,492 acres.

The main aspects of this zone are to attract foreign investments. The famous Seoul based Korean Youngone Corporation, applied formally to the Government of Bangladesh to set up an EPZ in the Private sector in the name of Korean EPZ Corporation (BD) Ltd. KEPZ is the first private EPZ in the country, it provides an industrial friendly and congenial work environment within a secured zone for operation at a scenic location.

About YoungOne Corporation:

The name of the Chairman and CEO is Mr. Kihak Sung. The Youngone Corporation, incorporated in Korea in 1974 is a leading manufacturer of Sportswear, Sport Shoes, & shoe accessories, Outerwear, Woven fabric, Non-woven polyester products, Backpack, Dyeing and finishing synthetic fabrics, resin and poly bags retailer and exporter. This Corporation operates in 12 countries across the world in Bangladesh, China, Korea, Italy, El-Salvador, Hong Kong, USA, Mexico, Switzerland, Thailand and Vietnam.

In Bangladesh the YoungOne first established operation at Chittagong city 1980. In 1988 it has moved its operations into the Chittagong Export Processing Zone (CEPZ). Today the company employs more than 40000 local workforces in its 17 factories in the EPZs of Dhaka (DEPZ) and Chittagong (CEPZ).

Utilities Services:

• Utility services like gas, electricity and water for industrial and housing facilities
• ICT-networks and Telecom
• Garbage disposal, Central effluent treatment plant
• Specialized industries are required to provide its own effluent treatment plant/solid waste disposal system

Physical Infrastructure:

• Fully serviced industrial plots
• Ready-made Standard Factory Buildings and space for supporting / sub-contracting industries
• Ready-made warehouses
• Jetty with backup facilities
• R & D facilities

Civic amenities:

• 18 hole Golf course
• Convention center/ Conference Hall/ Exhibition Hall/ Trade center
• Day care center
• Dormitories for workers
• Educational facilities for children
• Health club
• Housing accommodation for Executives
• Medical center
• Recreational facilities
• Sports ground
• Training center for workers

Korean EPZ at a glance / Special Features:

• Fast and duty free access to first world markets
• Excellent Strategic location
• Air and Sea Connection
• Investor Friendly Policies for (foreign) investors
• Attractive incentive packages
• Comparatively cheap labor
• Low production cost with consequential high competitiveness
• Skilled Professionals and workforce's
• Efficient management
• Industrial friendly and congenial work environment
• Largest EPZ in Bangladesh
• Around 500 hector industrial land
• Environment Management Plan (EMP)
• Essential civic amenities
• Professional one-stop service by KEPZ-management team
• Easy licensing
• Issue of import/export permits
• Simplified labor law helpful for maintaining congenial industrial relations
• KEPZ’s full support in all operational matters

Fiscal Incentives:

• Exemption of income tax for 10 years
• Exemption from dividend tax
• Duty free import of construction Materials, Machineries, Office equipment and Spare parts
• Duty free import of raw materials and export of finished goods produced in the zone
• Relief from double taxation subject to bilateral agreement
• Expatriates exempted from income tax (conditions apply)
• GSP facilities available for export
• Duty and quota free access to EU, Canada, Norway, Australia etc.

Non-fiscal incentives:

• 100% foreign ownership permissible with no ceiling on foreign investment
• Full repatriation of capital and dividend
• Foreign currency loan from abroad under off-shore banking arrangement
• Accelerated depreciation on machinery or plant allowed
• Remittance of Royalty, Technical and Consultancy fees allowed
• Enjoy MFN status
• Non-resident Foreign Currency Deposit (NFCD) Account permitted
• Operation of FC (Foreign Currency) account by foreign investors including foreign joint venture partners allowed (conditions apply)

Permissible Industries at KEPZ:

• Agro construction materials
• Agro-based industries, organic fertilizer production, garden and farm equipment manufacturing
• Backward linkage industries for textile
• Ceramic industries
• Electrical and Electronics items
• Engineering products and equipment's
• Gas based industries, Petrochemical products
• Hi-Tech projects for electrical/electronic equipment and components, assembly plants for cars and its
• Jewelry industries and cutting
• Leather products and shoes, bags, jackets etc
• Pharmaceutical products
• Port related services and business, Ship chandler items
• Scientific instruments and precision tools
• Software development, IT and R&D types industries
• Sports goods and toy manufacturing, footwear
• Components, software development, large scale chemical/petrochemical industries would be encouraged

Contact Address details:

Dhaka:

36, Lake Drive Road

Sector# 7, Uttara Model Town, Dhaka, Bangladesh

Tel: +88-02-8955977-78

Fax: +88-02-8913942

Email: kepzdhk@youngone.co.kr, Jsaadat.kepz@gmail.com

Chittagong:

Anowara, Chittagong, Bangladesh

Tel: +0443-501142, +880-31-740431-6

Fax: +0443-4493886, +880-31-740617

Email: mdshahjahan@youngone.co.kr

Seoul, Korea:

Youngone Corporation

12 Geum Gwang-Dong, JingwonGu, Sungnam, Gyoungi, Seoul, Korea

Tel: +822-3906-202

Fax: +822-3906-604

Email: kihaksung@youngone.co.kr

Related:

Government Owned Economic Zones List from BEZA

Private Economic Zone list of Bangladesh

BEPZA |About Bangladesh Export Processing Zone Authority

About Adamjee Export Processing Zone | AEPZ

About Chattagram / Chittagong EPZ (CEPZ)

List of Investor in CEPZ

About Cumilla Export Processing Zone

About Dhaka Export Processing Zone | DEPZ

List of Investors in Dhaka EPZ

About Ishwardi Export Processing Zone | IEPZ

About Karnafuli EPZ, Chittagong

BEPZA Economic Zone in MirsaraiUttara EPZ in Nilphamari district
Economic Zone for Tannery Industry in Chattogram