From catkin field to the model economic zone

The Meghna Industrial Economic Zone (MIEZ) located beside the Dhaka-Chattogram highway was just a catkin field five years ago but it has since turned into an industrial hub.

Situated on 110 acres of land at Tipordi under the Sonargaon upazila of Narayanganj, the MIEZ was established by Meghna Group of Industries (MGI) as the most modern economic zone of Bangladesh.

And yesterday, the local business giant flagged off nine new industrial units set up at a cost of Tk 4,000 crore at MIEZ in a bid to meet the country's growing demand for consumer products and industrial raw materials.

The units, which were inaugurated by Finance Minister AHM Mustafa Kamal, have created more than 10,000 employment opportunities.

"Meghna Group has set up these industrial units for the people of Bangladesh. The country will develop rapidly if everyone works for one another the way Mostafa Kamal [MGI's chairman and managing director] does," the finance minister said.

Praising Kamal's initiative, Commerce Minister Tipu Munshi said that the MGI chairman is an example of how corporate culture should be in Bangladesh.

"He is a successful entrepreneur due to his dedication and patriotism, which is a fruit of independence," he said, while thanking Kamal for selflessly helping the government mitigate the recent onion crisis.

The MIEZ is an example of how an economic zone should be developed, said Paban Chowdhury, executive chairman of the Bangladesh Economic Zones Authority (BEZA).

In 2015, the area was just a catkin field with banana trees strewn about but BEZA helped MGI build up the industrial hub with their cooperation and by providing land.

"We need more people like Mostafa Kamal, who builds up industries, helps create jobs and contributes to GDP growth," he added.

In the last five years, Bangladesh's GDP has increased by 105 per cent due to the rapid growth of private investment from companies like MGI, said Sheikh Fazle Fahim, president of the Federation of Bangladesh Chambers of Commerce and Industry.

"Kamal is an exceptional man who breaks the typical landlord stereotyping of big businessmen in the country," he added.

But it has not been smooth sailing for the MGI chief though.

In his speech, he said 13 of his industrial units located in the zone did not get gas supply for a long time even though he had deposited the Tk 220 crore as security to Titas Gas.

The largest natural gas distributor in Bangladesh continues to make different excuses for the delay in connecting the units to gas supply, he said.

After meeting local demands, MGI intends to export the various products manufactured at the zone.

MGI has 48 operational industrial units located in different areas. Of that total, 24 factories, which include six foreign companies, are found at economic zones.

"I have a dream that the MGI's Fresh brand products will be found at every household of Bangladesh. MGI is committed to ensuring product quality," he added. 

The units that were formally inaugurated are: Meghna Sugar Refinery, Sonargaon Seeds Crushing Mills, Meghna Ball Pen and Accessories MFG, Meghna Noodles and Biscuit Factory, Sonargaon Printing and Packaging Industries, Fresh Welding Electrodes and Wire, Meghna Fresh LPG, Sonargaon Ship Builders and Dockyard, and a second unit of Fresh Cement.

Khalid Mahmud Chowdhury, state minister of the shipping ministry, and Liakat Hossain Khoka, MP, spoke at the programme among others.