BANGLADESH: Improve infrastructure

 World Bank President Robert B Zoellick yesterday said Bangladesh holds the potential to become an effective partner in the international market by utilising its human resources properly and developing its infrastructures in the apparel industry.

The World Bank president Robert Zoellick, arrived in Dhaka on Saturday for a two-day visit. After a meeting with Mirza Azizul Islam, finance adviser to Bangladesh? army-backed interim government, on Saturday, Zoellick visited the Dhaka export processing zone (EPZ) at Savar, near the capital, on Sunday.

?his country can be an effective partner in the global market ensuring proper utilisation of human resources and developing its infrastructure facilities,?he said.

About half of Bangladesh? more than 140 million people still live below the poverty line, or less than a US dollar a day. The country? eight EPZs were contributing 18% to the national export earnings and offering employing more than 200,000 people. Presently, about 270 enterprises are operating in the zones making an investment of $1.8 billion.

The World Bank president went around the South Korea-based Youngone at the Dhaka EPZ, the biggest textile firm in Bangladesh.  So far Youngone has invested more than $300 million in Bangladesh? Dhaka and Chittagong export zones, and created 34,000 jobs. Robert Zoellick had a discussion with Youngone's chairman, Kihak Sung, and a firsthand view of various aspects of operation of the factory, including the effluent treatment plant (ETP).

They discussed important matters pertaining to investment climate, trade and labour issues facing the foreign investors in the country's main export-earning industry, which has long been striving for duty-and quota-free access to the coveted market in Zoellick's native country, the United States.

Expressing satisfaction over the infrastructure facilities of the Youngone Corporation, the WB boss said now the real challenge is to continue such facilities also in other enterprises of this sector.

He also emphasised industrialisation and its proper management for Bangladesh's deserved economic uplift, saying that it will increase production in the country and thereby enrich its export basket.

Asraf Abdullah said country's EPZs need to be expanded as many foreign investors, being pleased with the friendly policy and efficient performances of EPZs, have shown their keen interest in investing in the EPZs.

The WB president was accompanied by Praful Patel, vice-president of the WB South Asian region, and Xian Zhu, WB country director, among others.