Bangladesh Hi-Tech Park Authority yesterday signed an agreement with Bangladesh TechnoSity Limited to develop 3rd block of the hi-tech park in Kaliakoir on the outskirts of the capital.
The signing ceremony took place in a city hotel with the presence of Prime Minister’s Office Principal Secretary Abul Kalam Azad and Malaysian High Commissioner in Dhaka Norlin Othman.
Bangladesh TechnoSity Limited is a newly established Malaysia-Bangladesh joint venture partnering MSCTC, IRIS corporation and Alfa Technologies to develop the project.
Initially, TechnoSity will initially invest $25.80m for infrastructure development, and if necessary, the investment might also be increased by 10-12 times.
Moynul Haque Siddiqui, chairman of Bangladesh TechnoSity Limited, said the project will provide ‘Private One Stop’ exclusive service to the investors.
“Our main objective is to develop a world class innovation and production facilities for different hardware and software industry,” he added.
Hosne Ara Begum, managing director of Bangladesh Hi-Tech Park Authority, and Moynul Haque Siddiqui signed the agreement on behalf of their respective companies.
Hosne Ara Begum said said: “The investors from home and abroad will enjoy 10 years tax holiday, exemption of income tax for expatriate professionals, 10 years accelerated depreciation permissible, exemption from import duties, 100% exemption of taxes on all exports and 100% equity allowed for FDI companies.”
Anisul Haq, minister for law, Zunaid Ahmed Palak, state minister for ICT Division, Imran Ahmed, president, standing committee for Telecommunication and ICT, Shyam Sunder Sikder, secretary to ICT Division were present at the signing ceremony.
Summit Technopolis will develop 2nd and 5th block of the project under Public Private Partnership (PPP) within next 40 years.
The proposed park, which is only 40km away from the capital, is now set to be accomplished on a 232-acre land at a cost of over $207m.
The main of objective of the hi-tech park, which is still under construction, is to introduce Bangladeshi hardware manufacturers to the global market.
Kaliakoir hi-tech park, first of its kind, is located at Kaliakoir upazila in Gazipur district.
The park aims at attracting investment especially from the foreign investors in the country’s emerging IT sector as Bangladesh has vast potential of young educated and technically skilled work force.
The hi-tech park will be equipped with available gas, electricity connection, high-speed internet, separate customs-bonded offices, single window agency to fasten business process and a separate power plant with a capacity of 150 megawatt.
