DHAKA: Two state-controlled zones regulators have tied up to develop an economic zone near Dhaka as both seek to catalyze new investments needed to create jobs and spur economic growth.
The Bangladesh Economic Zones Authority (BEZA) and the Bangladesh Export Processing Zones Authority (BEPZA) are interested to build the Dhaka Economic Zone at Dohar upazila on a land of 316.35 acres.
BEZA executive chairman Paban Chowdhury said the two government agencies sat together on Sunday and express their willingness to develop the zone.
The move comes at a time when several private sector investors have shown interest to make investment in economic zones cross the country.
Six have sought licences from the BEZA for establishing economic zones in unspecified locations.
Mr Chowdhury said the authority’s board of governors gave its green light to a dozen proposals for developing such zones in a meeting held on October 21.
The BEZA said a quarter of 24 proposals it received are from the private investors interested in zones development.
The board okayed proposals of Meghna Industrial Economic Zone at Sonargoan in Narayanganj, Meghna Economic Zone, Comilla Economic Zone, FomCom Economic Zone, Aman Private Economic Zone and Bay Private Economic Zone.
Mr Chowdhury said so far 46 approved EZ are on the list, which will be developed gradually.
“We have set deadlines for 20 economic zones to be completed on time,” he added.
Moheshkhali economic zone on 1,438 acres, Cox’s Bazar Special Economic Zone on 8,784.77 acres, Narayanganj Economic Zone on 1,000 acres, Natore Economic Zone on 3220 acres, Araihajar Economic Zone (Japanese economic zone) in Narayanganj on 1,010.90 acres, Feni Economic Zone on 2,255.63 acres are approved zones.
The BEZA executive head said private investors have been showing their interest to invest in EZ, which will bring a positive impact on the country’s investment.
Meghna Group has sought licence for two zones, he said, adding other interested business groups are Alliance, Bay, Aman and Maisha.
Although majority of the zones are under the initiative of public sector, increased response from private investors had made the BEZA ‘optimistic’ about a big takeoff in zones development, he said.
He said the BEZA team has intensified its effort to raise the country’s investment-GDP ratio, which has near flattened at 30 per cent. A fresh wave of investments is seen crucial for generating employment, while injecting new momentum into the economy.
