Licences issued to 14 private economic zones
The Bangladesh Economic Zone Authority (BEZA) has issued licences for 14 private economic zones till date so that they can carry out economic activities, generate employment, and create investment facilities.
“Of the 14 economic zones, final licences have been issued for only four private operators, while the rest of the 11 licenses are preliminary ones,” said BEZA executive chairman Paban Chowdhury.
The BEZA chief said the recipients of final licences are: Meghna Economic Zone (Sonargaon-Nayaranganj), Abdul Momen Economic Zone (Char Baushia-Gajaria, Munshiganj), Aman Economic Zone (Sonargaon-Narayaganj), and Bay Private Economic Zone (Konabari-Gazipur).
The recipients of preliminary licences are AK Khan Private Economic Zone; Meghna Industrial Economic Zone; Aricha Private Economic Zone; United City IT Park Limited; East West Special Economic Zone; Bashundara Economic Zone; Sonargaon Economic Zone; Akiz Economic Zone; Comilla Economic Zone; and City Economic Zone.
About the recipients of preliminary licences, the BEZA chairman said they would receive final licences if they were able to fulfil terms and conditions. He further said at least 12 applications are under process for providing preliminary licences.
“We will provide special economic zones to foreign investors. We have already provided land for India, Japan and China to establish economic zones,” he said. Feasibility studies on India’s economic zones have been completed. “It is only a matter of time now to develop the zone,” he added.
The BEZA chief said they would provide multiple incentives to the developers of the economic zones as well as the investors in manufacturing units, including income tax exemption for 12 years, VAT exemption on electricity, VAT exemption on local purchases excluding petroleum products, exemption from Customs duties, and exemption from dividend tax.
Regarding land acquisition, he said the BEZA has registered a total of 27,000 acres of land in its name. Mutation, too, has been completed. Besides, some 11,000 acres of land are being processed for registration, he said.
The BEZA chairman said it would set up more economic zones across the country, focusing on food, beverage and export sectors.
A total of 3,000 and 18,000 skilled and non-skilled people would get jobs in the economic zones in one year and five years respectively.
Since the government has set a target to establish 100 economic zones that would create employment for 10 million people and generate additional $40 billion exports, BEZA has so far given pre-qualification license to 11 organisations for this purpose.
Bangladesh is proceeding rapidly in developing economic zones across the country. This would bolster the country’s economic growth by boosting exports and creating employment opportunities, according to stakeholders and analysts.
Source: http://www.theindependentbd.com