Publish : 07 Dec 2021, 09:44 PMUpdate : 08 Dec 2021, 03:43 PM
The Bangladesh Export Processing Zones Authority (Bepza) is developing an exclusive economic zone, named Bepza Economic Zone (BEZ) on 1,138 acres of land in Mirsharai, Chattogram with an involvement of Tk6,000 crore in phases within a period of 10 years.
"We have started developing our ninth industrial zone to woo investment in diversified sectors. As our export basket is heavily dependent on readymade garments (80% of the total export), we like to promote investment in diversified sectors," said Nazma Binte Alamgir, general manager (public relations) at Bepza.
Some potential industries will be set up in BEZ that will produce goods like agro-products and agro-processing products, integrated textiles, leather and leather products, motorbikes, food & beverage, paint & chemicals, paper, plastics, light engineering (including auto-parts and bicycles), solar power and goods related to 4IR, she also said.
“We are expecting investment valued at $4-5 billion, with an employment generation of 500,000 workers after completion of the project," the Bepza official projected.
Dhaka Tribune
This will be one of Bepza's iconic projects, since the organization started back in 1983. Bepza is developing the largest ever economic zone on 1,138 acres of land inside the Bangabandhu Sheikh Mujib Shilpa Nagar in phases with an involvement of Tk6,000 crore in a period of 10 years.”
In the first phase of the development, Bepza has created 140 industrial plots, and has already allocated 134 industrial plots to 18 entrepreneurs of China, Hong Kong, Taiwan, South Korea, India, USA, UK, Canada, Kuwait, including host Bangladesh. Foreign companies have offered to invest $580 million as of now, she also said.
"Gradually, we are handing over the plots, depending on their development. We have a lot of applications from the investors seeking plots there."
The Bepza official further said that this is a special economic zone being developed by Bepza, who has utilized its 40 years of experience in operating EPZs to develop this zone as a smart and green zone balancing with nature and productivity. Water treatment plants (WTP), central effluent treatment plant (CETP), power hubs, incinerator, central warehouse, and container depot facilities will be available here. Civic facilities including educational institutions, dormitories, power stations, hospitals, parks, restaurants, hotels and motels will be constructed in and around BEZ.
The first phase is expected to be completed by June 2023 with an involvement of Tk1,300 crore, she added.
Background
According to Bepza, it would develop 539 plots in the BEZ where they are expecting to accommodate 300-350 industries.
Bepza, the pioneer investment promotion agency of the country run under the Prime Minister’s office, has in the meantime set up eight EPZs across the country.
They are Chattogram & Karnaphuli EPZs in Chattogram, Dhaka EPZ, Mongla EPZ, Uttara EPZ in Nilphamari, Comilla EPZ, Ishwardi in Pabna and Adamjee EPZ in Narayanganj.
Till October, 459 industries are in operation while 71 in under construction stages in the eight EPZs.
The cumulative investment stands at $5.75 billion. The enterprises exported goods worth $89.79 billion.
A total of 459,863 Bangladeshis are working in the EPZs.
During 1983-2008, the EPZs recorded investments worth $1,509 million and exported goods valued at $17,598 million during the same period.
After the Awami League government came to power in 2008, the EPZs attracted $4,236.78 million and exported goods worth $72.19 billion from 2009 till date.
During the 2009-2021 period, Bepza created a total of 256,416 jobs compared to 203,447 jobs created during 1983-2008.
The eight EPZs span over 2,307.27 acres of land. They contribute around one-fifth of the total foreign trade of the country.
EPZs are one of the prime success stories in Bangladesh as exports from the EPZs accounted for $6.64 billion of the country's export receipts in FY21, Bepza statistics show.
Asked about their future plans, Nazma said that they also have a plan to set up three other EPZs in Patuakhali, Gaibandha and Jessore.
"Feasibility studies for the proposed EPZs are going on. After the studies, we will go for development," she added.
Based on the availability of land, they would start development of the EPZs.
Bepza's Mirsharai EZ to attract $5bn investment
The Bangladesh Export Processing Zones Authority (Bepza) is developing an exclusive economic zone, named Bepza Economic Zone (BEZ) on 1,138 acres of land in Mirsharai, Chattogram with an involvement of Tk6,000 crore in phases within a period of 10 years.
"We have started developing our ninth industrial zone to woo investment in diversified sectors. As our export basket is heavily dependent on readymade garments (80% of the total export), we like to promote investment in diversified sectors," said Nazma Binte Alamgir, general manager (public relations) at Bepza.
Some potential industries will be set up in BEZ that will produce goods like agro-products and agro-processing products, integrated textiles, leather and leather products, motorbikes, food & beverage, paint & chemicals, paper, plastics, light engineering (including auto-parts and bicycles), solar power and goods related to 4IR, she also said.
“We are expecting investment valued at $4-5 billion, with an employment generation of 500,000 workers after completion of the project," the Bepza official projected.
This will be one of Bepza's iconic projects, since the organization started back in 1983. Bepza is developing the largest ever economic zone on 1,138 acres of land inside the Bangabandhu Sheikh Mujib Shilpa Nagar in phases with an involvement of Tk6,000 crore in a period of 10 years.”
In the first phase of the development, Bepza has created 140 industrial plots, and has already allocated 134 industrial plots to 18 entrepreneurs of China, Hong Kong, Taiwan, South Korea, India, USA, UK, Canada, Kuwait, including host Bangladesh. Foreign companies have offered to invest $580 million as of now, she also said.
"Gradually, we are handing over the plots, depending on their development. We have a lot of applications from the investors seeking plots there."
The Bepza official further said that this is a special economic zone being developed by Bepza, who has utilized its 40 years of experience in operating EPZs to develop this zone as a smart and green zone balancing with nature and productivity. Water treatment plants (WTP), central effluent treatment plant (CETP), power hubs, incinerator, central warehouse, and container depot facilities will be available here. Civic facilities including educational institutions, dormitories, power stations, hospitals, parks, restaurants, hotels and motels will be constructed in and around BEZ.
The first phase is expected to be completed by June 2023 with an involvement of Tk1,300 crore, she added.
Background
According to Bepza, it would develop 539 plots in the BEZ where they are expecting to accommodate 300-350 industries.
Bepza, the pioneer investment promotion agency of the country run under the Prime Minister’s office, has in the meantime set up eight EPZs across the country.
They are Chattogram & Karnaphuli EPZs in Chattogram, Dhaka EPZ, Mongla EPZ, Uttara EPZ in Nilphamari, Comilla EPZ, Ishwardi in Pabna and Adamjee EPZ in Narayanganj.
Till October, 459 industries are in operation while 71 in under construction stages in the eight EPZs.
The cumulative investment stands at $5.75 billion. The enterprises exported goods worth $89.79 billion.
A total of 459,863 Bangladeshis are working in the EPZs.
During 1983-2008, the EPZs recorded investments worth $1,509 million and exported goods valued at $17,598 million during the same period.
After the Awami League government came to power in 2008, the EPZs attracted $4,236.78 million and exported goods worth $72.19 billion from 2009 till date.
During the 2009-2021 period, Bepza created a total of 256,416 jobs compared to 203,447 jobs created during 1983-2008.
The eight EPZs span over 2,307.27 acres of land. They contribute around one-fifth of the total foreign trade of the country.
EPZs are one of the prime success stories in Bangladesh as exports from the EPZs accounted for $6.64 billion of the country's export receipts in FY21, Bepza statistics show.
Asked about their future plans, Nazma said that they also have a plan to set up three other EPZs in Patuakhali, Gaibandha and Jessore.
"Feasibility studies for the proposed EPZs are going on. After the studies, we will go for development," she added.
Based on the availability of land, they would start development of the EPZs.