Investment promotion roadshow in Ctg

Industrial units can be set up within two years in the first economic zone developed on 550 acres in Mirsarai upazila.

The construction of an access road to the zone has already started, Paban Chowdhury, executive chairman of Bangladesh Economic Zones Authority, said at a discussion in Chittagong yesterday.

The BEZA has also signed contracts to build embankments and sluice gates and they would develop the infrastructure required at the zone for utility services such as electricity and water, he added.

Thirty economic zones -- big or small -- will be developed on 27,000 acres of land in Mirsarai in 15 years, according to Chowdhury.

It will be a full-fledged modern industrial city, having schools, colleges and training institutes, which would create jobs for 10 lakh people, he added.

A garment park will also be built at the site in two years to bring back the city's lost glory in the apparel sector, Chowdhury said.

Bangladesh Export Processing Zones Authority (BEPZA) developed only 2,290 acres of land in the last 35 years and BEZA aims to develop 30,000 hectares to establish 100 EZs in 15 years. It has already selected 37 sites in parts of the country.

BEZA and the Prime Minister's Office organised an investment promotion roadshow -- Development of Economic Zones in Bangladesh -- to share its plans with the business community in Chittagong.

In his speech as the chief guest at the inaugural session, Cabinet Secretary Mohammad Shafiul Alam said the EZs could be the key driver of economic growth and employment generation, and could be the major factor in transforming Bangladesh into a middle-income country by 2021.

The availability of large hassle-free lands is important to set up EZs, he said.

Despite being a relatively new government authority, the BEZA was able to develop 1,000 acres of land in Bangladesh in the last one year, said Alam.

Md Shahidul Haque, secretary of Legislative and Parliamentary Affairs Division, and Mahbubul Alam, president of Chittagong Chamber of Commerce and Industry, were present as special guests.

Eight keynote papers on different issues, including business landscape of Bangladesh, transition from EPZs to EZs and roles of private EZs, were presented at the discussion.