5 EZs to draw $5.5b investment by 2026: BEZA
The Bangladesh Economic Zones Authority, BEZA, expected that five economic zones would draw $5.5 billion worth investment by 2026.
The economic zones are National Special Economic Zone (NSEZ), Srihatta Economic Zone (SEZ), Jamalpur Economic Zone, Moheshkhali Economic Zone, and Bangladesh Special Economic Zone.
Beza also hopes that the economic zones will create at least 2.38 lakh employment opportunities.
“In the first phase, five zones will be completed with adequate utility connections (gas, electricity and water) and road infrastructure,” BEZA Executive Chairman Chowdhury Ashik Mahmud Bin Harun said at a press conference at Bangladesh Investment Development Authority, BIDA, headquarters in Dhaka on Tuesday, January 7.
He said Beza is making a realistic commitment to earn the confidence of investors to transform BEZA into a true investment friendly authority so that investors can implement its investment plan in time.
“I think, if BEZA can implement the plan of five economic zones properly in the next two years, then it will be able to use this experience to take better initiatives in the future. However, this will require a concerted effort from all departments of the government,” he added.
After taking charge as the Executive Chairman of BEZA, Chowdhury Ashik said, “I have discussed with all categories of stakeholders to identify the main issues in the establishment of economic zones, including business officials, domestic and foreign investors, developers, business organizations, development aid organizations and journalists.
“Later, I am trying to solve the problems by sitting with the relevant departments of the government. Decision-making has already been expedited in several cases,” he added He informed that Beza has kept five more EZs under assessment which will be developed in phases after various surveys.
The zones are Sabrang Tourism Park, Chinese Economic Zone, Chadpur Economic Zone, Kurigram Economic Zone and Kushtia Economic Zone.
Chowdhury Ashik said investors who have taken land but could not start operations for any reasons, are encouraged to set up industries and are requested to inform BEZA of their investment plans.
“If these investors are unable to start the development work for construction of industrial establishments in accordance with our plan, then they are requested to return the land to BEZA,” he added.
He said initiatives are also being taken to set up economic zones on unused government land (jute mills and sugar mills) at various places.
He informed that the Korean Export Processing Zone (KEPZ) is being brought under the jurisdiction of the BEZA. "Some official formalities remain to be completed to this end," he said.
Source: BSS
