According to Bangladesh Export Processing Zones Authority (Bepza), the regulatory body of the EPZs, export earnings from industrial units based in the six EPZs stood at $1353.91 million in 2003-04, which was $1200.22 million in 2002-03.

Bepza Executive Chairman Md Zakir Hossain attributed the success to the low production cost in the EPZs.

"We provide utility and other services to the investors at the lowest cost in South Asia," said the executive chairman while talking to The Daily Star yesterday.

He said investors from India and Sri Lanka have moved to Bangladesh EPZs in recent years, as cost of production in their countries is comparatively higher than Bangladesh's.

"The low cost and other attractive incentives offered by the Bepza is also luring Japanese investors who have shown keen interest to set up plants in Bangladesh," Hossain added.

Encouraged by last year's performances, the Bepza had set a target of $1500 million for the current fiscal. Last year, the target was $1225 million.

Of the six EPZs, two EPZs -- Chittagong and Dhaka -- have contributed 99 percent of the total export earnings.

According to Bepza, enterprises in Chittagong EPZ earned $679.01 million and Dhaka EPZ fetched $667.60 million during 2003-04 fiscal.

During the last fiscal, Bepza approved 56 industrial units to launch their production of which 21 are owned by Bangladeshis, 18 are foreign-owned and rest are in joint venture with Japan, Pakistan, China, Taiwan, India, UK, Italy and the US entrepreneurs.

Among the 56 units, 12 were given permission to start operation in Chittagong, 14 in Dhaka, 13 in Mongla, eight in Comilla, seven in Ishwardi, and two in Uttara in Nilphamari. "Eight units have already gone into production," said a high official of Bepza.

Bepza official said the new ventures have created employment opportunity for 10,045 Bangladeshi nationals last year.

The companies in business are of agri-products, garment accessories, metal products, terry towel, textile, knitting, electronics, chemical and fertiliser.

At present, 203 industrial units are now in operation at the six EPZs. Of them, 126 are fully foreign-owned, 27 are joint venture and 50 are fully owned by Bangladeshis.