Establish economic zones to attract local and foreign investment: HPM Sheikh Hasina

In a meeting of the Governing Board of the Bangladesh Economic Zone Authorities (BEZA) she said the prime and foremost goal of establishment of the economic zones is to create employment opportunities to expedite industrial development in the country.

BEZA is a high powered forum under Prime Minister's Office to establish about 100 economic zones in the country to encouraging rapid economic growth through increase and diversification of industry, employment, production and export.

Under the plan the government has eyed to establish 100 economic zones in all potential regions of the country including backward and underdeveloped regions by 2030 to create 10 million new jobs and fetch additional annual export to USD 40 billion.

Executive Chairman of BEZA Paban Chowdhury informed the meeting about the progress of the activities of the board.

Members of the council Finance Minister Abul Maal Abdul Muhith, Industries Minister Amir Hossain Amu, Commerce Minister Tofail Ahmed, Minister for Road Transport and Bridges Obaidul Kader, Minister for Environment and Forests Anwar Hossain Monju, Planning Minister AHM Mustafa Kamal, Executive Chairman of the Board of Investment Dr SA Samad, State Minister for Power Nasrul Hamid, PM's Principal Secretary Abul Kalam Azad, Bangladesh Bank Governor Fazley Kabir, president of the Federation of Bangladesh Chambers of Commerce and Industry Abdul Matlub Ahmad and concerned secretaries were present.

Briefing reporters after the meeting PM's press secretary Ihsanul Karim said the Prime Minister put emphasis on a self-reliant economy for country's fast economic progress and creating job opportunities through mobilizing more public and private investments.

"To ensure overall development of the country is the main goal of our government and for this we're continuing our efforts for industrial development and thus creating more employment opportunities," the prime minister said.

Sheikh Hasina, also the chairman of BEZA, underscored the need for ensuring overall development of the country and the region through attracting more public and private investments.

In this connection, she mentioned that her government wants to strengthen the regional cooperation with neighboring countries through linking Bangladesh with Bhutan, India and Nepal (BBIN) and establishing Bangladesh, China, India and Myanmar (BCIM) Economic Corridor.

Better connectivity is very crucial to boost up trade and commerce with neighbouring countries, she said.

The Prime Minister asked the officials to put emphasis on establishing agro-based industries in different regions based on better production of goods in the respective areas.

She also asked the authorities concerned to smoothly implement the policies and guidelines for setting up the countrywide 100 economic zones.

According to BEZA, the government of Bangladesh has so far identified and approved 59 sites for development of the economic zones. More 22 sites, selected primarily, are awaiting approval. Out of those earmarked sites, development works of ten economic zones were inaugurated by the Hon'ble Prime Minister.

In February last, the Prime Minister laid the foundation stones of 10 economic zones. Of the 10 economic zones, 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 initiative.

Six other economic zones, being developed under private initiatives, are located at Palash in Narshingdi, Boyddarbazar at Sonargaon in Narayanganj, Konabari in Gazipur; Meghnaghat in Narayanganj, Choto Shilmandi at Sonargaon in Narayanganj and Gazaria in Munshiganj.

Sources in BEZA said the Prime Minister is set to inaugurate development works of more 10 economic zones at the end of this year. In the meantime, SRO's and Circulars have been made available for investment incentives. An electronic platform is being developed to render online One Stop Service in BEZA, sources said.