Investors can use skilled, cheap labour in Special Economic Zones: Commerce minister

Commerce Minister Tipu Munshi has said physical works of many out of 100 under-construction Special Economic Zones in the country are almost at their final stages.

He said a good number of factories have already been inaugurated.

The minister’s statement came on Monday during an exchange of views with Enrico Nunziata, the ambassador of Italy to Bangladesh.

Munshi said the government is providing various facilities to the entrepreneurs of the Foreign Direct Investment (FDI).

“There is an opportunity to use skilled manpower at low expenses in Bangladesh. Here it is possible to produce world class products at low cost. Italian entrepreneurs will be benefited if they invest in Bangladesh,” he told the envoy, said a commerce ministry press release. 

He said the businessmen of both the countries can visit each other and select potential areas for investment.

Citing the long-standing commercial and economic relations of Bangladesh with Italy, he said Italy has created a big market for apparels made by Bangladesh.

“Many Bangladeshis are working with a reputation in Italy and industrial machinery and medical machinery made in Italy are widely used in Bangladesh. There are many opportunities to increase trade and investment between these two countries,” he said.

The Italian envoy said Bangladesh has been quite successful in the production of ready-made garments. “Made in Bangladesh” is a good brand in the global market now.

He said Bangladesh-made clothes are very popular in Italy. Bangladesh imports many Italian products. Both countries have opportunities to further increase trade and investment.

“Businessmen of both the countries can play an important role in this regard. Both countries can exchange tourists. The Italian government gives importance to tourism in all areas.”