The government is undertaking various schemes around the country's Export Processing Zones (EPZs) to ensure new foreign investment. Therefore, in the new three EPZs of Patuakhali, Gaibandha and Jessore, a decision has been taken to be flexible in terms of import-export rules.
It has been decided to resolve various complications related to customs of investors, to keep all activities including import-export of industrial establishments from the scope of Licensing Rules 2008, cancellation of standing orders issued by customs and finalization of proposed Customs (EPZ) Rules, 2021. Even industrial establishments here do not have to file utilization permits.
A notification issued by the Bangladesh Export Processing Zone Authority (BEPZA) on October 17 has also informed about some important decisions in this regard, said a media release on Wednesday.
To exempt the industrial establishments of these EPZs from the purview of the “Bonded Warehouse Licensing Rules, 2008” and to issue notifications cancelling the standing orders issued by the Customs Bond Commissionerates in 2014 and thereafter providing various instructions regarding the acceptance and renewal of bond licences, import availability, determination of coefficients etc. has been Industrial establishments here will not need to submit Utilization Permit (UP) or Utilization Declaration (UD). Necessary instructions have been given to all concerned customs houses or bond commissariat to carry out all related activities including import and export.
BEPZAs notification states that the National Board of Revenue (NBR) issues bond registration and subsequent permanent bond registration or license for industrial establishments in EPZs. Besides, various activities related to customs of EPZ are facilitated through meetings held between the Prime Minister's Office, NBR, Ministry of Commerce, Customs, BEPZA and investors at various times, taking into account the attraction of foreign and domestic investment, the multi-faceted positive aspects of investment and the greater interest of national exports. Accordingly, they have been conducting their business activities in industrial establishments in EPZs.
BEPZA said that the authorities have been contributing about 17 per cent to national exports by creating employment opportunities for more than 5 lakh people by attracting domestic and foreign investment through the establishment of EPZs in different parts of the country. In this case, to continue this ongoing flow of investment, employment and export in EPZs, it is necessary to ensure uninterrupted import-export activities in the industrial establishments of EPZs, added the release.
Bd-pratidin English/Golam Rosul
