BEZA: More economic zones on the cards

Bangladesh Economic Zones Authority (BEZA) 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 in one year and five years respectively would find jobs in the economic zones. BEZA Executive Chairman Paban Chowdhury on Monday disclosed the matters while addressing a pre-qualification licence awarding ceremony as the chief guest. The City Group has got primary permission to set up private economic zones at Matuail and Rupganj in Narayanganj. Although the organisation applied for the permission of three zones, BEZA approved one. BEZA Executive Chairman Paban said: “The City Group will be able to implement economic zones and play an important role in the development of the country.” The company has to assess an environmental impact, do feasibility study and make a master plan within a year before it obtains final licence. Since the government has set a target to establish 100 economic zones that would create employment of 10 million people and generate additional 40 billion exports, BEZA has so far given pre-qualification licence to 13 organisations for this purpose. Meghna, Abdul Momen, Aman and Bay economical zones have already got final licence, said Paban. City Group Chairman and Managing Director Fazlul Rahman said: “If we can set up economic zones in the country properly, local and foreign investors will invest here.” BEZA Executive Board Secretary Md Aiub, Executive Member M Emdadul Haque and City Group Director Md Hasan and other officials were present on the occasion. Bangladesh is going fast in developing economic zones across the country that will bolster the country’s economic growth through boosting exports and creating employment opportunities, according to stakeholders and analysts. National Board of Revenue Chairman Md Nojibur Rahman recently said the NBR is providing all sorts of support to BEZA in formulating an investment-friendly tax pattern for the investors to develop economic zones. According to the NBR chief, under the system the unit investors will import raw materials without paying import duty and VAT.