Land ready for Japanese investors in Araihazar: Kamal

The development of 1,000 acres of land in Araihazar of Narayanganj has been completed for Japanese investors, Finance Minister AHM Mustafa Kamal said today.

The cabinet committee on economic affairs approved a proposal to sign an agreement for setting up a special economic zone for Japanese investors there, he told reporters after the meeting.

Bangladesh Economic Zones Authority (BEZA) and Bangladesh SEZ Ltd will sign the agreement.

Earlier on May 22, 2019, the cabinet committee approved a proposal to sign a joint venture agreement between the BEZA and Sumitomo Corporation of Japan to establish the zone.

Bangladesh SEZ Ltd is a special company formed under the joint venture of the BEZA and Sumitomo Corporation for the development and management of this economic zone.

In addition, the proposals to ink the development agreement and the land lease agreement were also approved in today's meeting.