Expedite construction work on 100 economic zones

Prime Minister Sheikh Hasina yesterday asked the Bangladesh Economic Zone Authority (BEZA) to accelerate the work of establishing 100 economic zones across the country as those are aimed at attracting more local and foreign investment.

“Ensuring overall development of the country is the main goal of our government and that’s why we’re continuing our efforts to gear up industrial development and thus create more employment opportunities,” she said.

Sheikh Hasina, also the head of the BEZA Governing Board, said this while presiding over the 4th meeting of the governing board of Bangladesh Economic Zone Authority (BEZA) held at her office.

PM’s Press Secretary Ihsanul Karim briefed reporters after the meeting.

She also asked the authorities concerned to smoothly implement the policies and guidelines for setting up the countrywide economic zones.

Hasina also underscored the need for ensuring the overall development of the country and the region through attracting more public and private investment.

She mentioned that her government wants to strengthen regional cooperation with neighbouring countries through linking with the Bangladesh, Bhutan, India and Nepal (BBIN) and Bangladesh, China, India and Myanmar (BCIM) Economic Corridor initiatives.

“If the connectivity is increased, then trade and commerce among the neighboring countries will get a boost,” she said.

The meeting also reviewed the progress of the activities of BEZA presented by BEZA Executive Chairman Paban Chowdhury as well as its working paper of the 3rd governing body meeting.

Finance Minister AMA Muhith, Industries Minister Amir Hossain Amu, Commerce Minister Tofail Ahmed, Planning Minister AHM Mustafa Kamal, Road Transport and Bridges Minister Obaidul Quader, Forests and Environment Minister Anwar Hossain Monju, Board of Investment (BoI) Executive Chairman SA Samad, State Minister for Power, Energy and Mineral Resources Nasrul Hamid, PM’s Principal Secretary Md Abul Kalam Azad, Bangladesh Bank Governor M Fazle Kabir, secretaries concerned and FBCCI president Abdul Matlub Ahmed were present at the meeting.

Earlier, the government revealed plans to create jobs for 10 million people by setting up 100 economic zones within the next 15 years.

Establishing the economic zones will boost export earnings by $40 billion and generate about 10 million jobs, encourage industrialisation, generate employment opportunities, increase production and ensure export promotion and diversification.

According to BEZA, the government of Bangladesh has so far identified and approved 59 sites for development of Economic Zones. Twenty-two more sites have been selected primarily, which are awaiting approval.  Out of this earmarked areas, the development of 10 economic zones was inaugurated by the Prime Minister.

Development works on 10 more economic zones at different parts of the country will be inaugurated at the end of 2016.

In February last, Prime Minister Sheikh Hasina laid the foundation stones of 10 economic zones, the first of their kind in the country.

The 10 economic zones, including Mirsarai Economic Zone in Chittagong, Srihattya Economic Zone in Moulvibazar, Mongla Economic Zone in Bagerhat and Subrang Tourist Park in Cox’s Bazar, are being developed under public-private sector initiative.

The remaining six economic zones being developed under private initiatives are located at Polash in Narshingdi; Boddarbazar at Sonargaon in Narayanganj, Konabari in Gazipur; Meghnaghat in Narayanganj, Choto Shilmandi at Sonargaon in Narayanganj and Gazaria in Munshiganj.