Turkish entrepreneurs urged to invest in Mirsarai EZ

Turkish entrepreneurs can set up their industries in the green economic zone of Bangladesh as the government is developing the Mirsarai Economic Zone on 30,000 acres of land in Chittagong, in phases.

Chittagong Chamber of Commerce and Industries (CCCI) president Mahbubul Alam said this at a views exchange meeting with the visiting Turkey-Bangladesh Business Council (TBBC) and CCCI leaders at Bangabandhu Conference Hall of World Trade Center on Tuesday

In the first phase of the development, Bepza has completed 140 industrial plots, and allocated 134 industrial plots to entrepreneurs of China, Hong Kong, Taiwan, South Korea, India, USA, UK, Canada and Kuwait in the meantime.

The new economic zone is expected to create employment opportunities for 1.5 million people within the next 15 years and ensure export earnings of $15 billion.

Mirsarai Economic Zone is an industrial economic zone currently under development in Mirsarai upazila, Chittagong on the bank of Sandwip channel.

It is being developed on an area of 30,000 acres and is governed by Bangladesh Economic Zones Authority under the Bangladesh Economic Zone Act, 2010.

Mahbubul Alam said that the government is working relentlessly to ensure one stop service in the Mirsarai Economic Zone. “Various countries including Japan and India are constructing special zones for investment in this industrial zone,” he added.

He hoped that Turkish entrepreneurs can take the opportunity to meet the domestic demand of Bangladesh, a country of 170 million people, as well as export to different countries of the world by setting up an industrial factory in Bangabandhu Industrial City.

The CCCI president also requested the Turkish businessmen to launch the Istanbul-Dhaka-Chittagong flight to increase communication in the private sector and said that Turkey would participate in the next International Trade Fair in Chittagong as a partner country.

CCCI president Mahbubul Alam said that although Turkey-Bangladesh bilateral trade is $1.1 billion, there is a lot of opportunity to increase trade and commerce in this regard.

“The Bangladesh government is providing various benefits including tax holidays for foreign investment. Chittagong is emerging as an ideal place for investment through infrastructure development.

"Over 92% export and 75% import activities of the country are being conducted through Chittagong port,” he added.

Hulya Gedi, Chairperson of TBBC, led the 13-member Turkish trade delegation.

Hulya Gedi, Chairperson of the Turkey-Bangladesh Business Council, said that Chittagong city could play an important role not only for the economy of Bangladesh but also for the countries in the Asia-Pacific region.

Referring to the historical and similar relations between Turkey and Bangladesh, he hoped that the current $1.1 billion trade between the two countries would reach the target of $2 billion.

Gedi highlighted the immense potential of Bangladesh and said that Turkey could import products from Bangladesh which it does not produce on its own.

He said there was a great deal of interest from Turkish investors in Bangladesh's infrastructure, renewable energy, ICT, steel, engineering, education and other sectors.

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