The Bangladesh Economic Zones Authority (BEZA) on Wednesday issued a private economic zone licence to City Group, one of the local industrial conglomerates.
The zone, called ‘Hossendi Economic Zone,’ will be built on 108 acres of land in Munshiganj’s Gajaria upazila.
BEZA Executive Chairman Paban Chowdhury handed over the licence to Hossendi Economic Zone Limited Chairman and City Group director Shampa Rahman at a programme held at the BEZA office in Dhaka on the day.
The economic zone, the second for City Group, was expected to be completed by 2021, with an estimated investment of $2 billion that would create employment opportunities for 15,000 people, City officials said.
The business group already has a City Economic Zone in Narayanganj’s Rupganj upazila. It got the licence in January 2018.
Speaking at the ceremony, Paban Chowdhury said that they hoped that the proposed zone would receive huge response from local and foreign entrepreneurs since it was close to the capital.
The government plans to set up 100 economic zones by 2030 with a view to generating one crore new jobs, earn $40 billion in additional exports and attract $20 billion in foreign direct investment.
