Italian investors keen to invest in Bangladesh: BEZA

A group of Italian investors have expressed interest to invest in power, IT and leather sectors in the special economic zones in Bangladesh as they see the country as a lucrative destination.

A business delegation from the European country met with Paban Chowdhury, executive chairman of Bangladesh Economic Zones Authority (BEZA), in the latter's office in Dhaka on Sunday and expressed their willingness to invest in the country.

“It's a very positive sign that the Italian investors are coming to Bangladesh one year after the Holey Artisan attack, in which nine Italians, mostly garment traders, were killed,” Chowdhury said.

Already, there is a lot of Italian investment in Bangladesh either in joint ventures or as separate companies, he said.

The Italian investors however did not give any specific proposal or express interest about any special economic zone.

“However, the BEZA will give a separate zone to the Italian investors if they want one. The BEZA will also facilitate the Italian investors if they seek any cooperation from the investment promotion body to invest in any zones,” said Chowdhury.

So far, the BEZA has awarded four special economic zones to foreign investors, including two zones to Indian investors – one on 1,000 acres of land at Mirsarai in Chittagong and the other in Kushtia.

A feasibility study is being carried out to establish the zones for Indian investors, said Sohelur Rahman Chowdhury, manager of the BEZA.  A memorandum of understanding was signed for setting up a separate zone for Japanese investors at Araihazar in Narayanganj.

The BEZA signed an agreement with China Harbour Engineering Company last month to develop a zone on 783 acres of land at Anwara in Chittagong. “We hope the formal operation of the zone will commence within the next two years,” Chowdhury said.