The Bangladesh Economic Zones (Amendment) Bill, 2015 was placed in the Jatiya Sangsad today to facilitate establishment of economic zone in the country in partnership with other counties on government-to-government basis.
Finance Minister Abul Mal Abdul Muhith placed the bill and proposed to send it to the parliamentary standing committee on the law, justice and parliamentary affairs ministry for scrutiny.
Later, the House sent the bill to the standing committee for reporting back within one month.
Under the new law, establishment of economic zones for information and communication technology (ICT) industries would be allowed within the City Corporation, municipality and cantonment board areas.
The provision of the existing law will be relaxed. The existing law restricts establishment of economic zone within the City Corporation, municipality and cantonment board areas.
The necessity of incorporating the provision was found while several developed countries offered Bangladesh to invest in specialised economic zones that would be established on G2G basis. The new law will facilitate establishment of such economic zone in the country.
