17 economic zones getting ready for south-west

The government is setting up 17 economic zones in southwestern districts to bring about an industrial revolution in the largely non-industrialised region as it looks to accelerate economic growth of Bangladesh.  

And the Bangladesh Economic Zones Authority (Beza) is upbeat that the road connectivity established between Dhaka and the region on Saturday following the inauguration of the Padma Bridge will attract investment in the industrial sector and create jobs for thousands of people.

The 6.15km bridge will also connect Bangladesh with the Asian Highway, paving the way for an industrial revolution to take place in 21 southwestern districts in particular and in the country in general, said the investment promotion agency in a statement.

The zones are part of the governmental goal of setting up 100 economic zones across the country, with a view to creating one crore jobs and exporting $40 billion worth of goods and services from the enclaves.

The Mongla Economic Zone (MEZ) is being developed on 205 acres of land near the Mongla Port and it has already constructed the administrative building, boundary walls, connecting bridge and roads, power sub-stations, and water lines.

Powerpack Economic Zone Ltd is developing the MEZ under the public-private partnership (PPP) model. A land-lease deal has been inked to set up three industrial units there.

"The establishment of industries at the MEZ will create jobs for a few thousand people and contribute to the overall development of the region," said Shaikh Yusuf Harun, executive chairman of the Beza, in a statement.

Development of another economic zone on 105 acres of land near the MEZ is underway as well. A developer, appointed by the Indian government, is preparing the economic enclave.

It is expected that the setting up of industries in the two economic zones in Mongla will begin soon.

The Beza plans to set up an ecotourism park on 1,546 acres of land near the Sundarbans in Bagerhat.

It has approved the proposal of setting up two economic zones in Shariatpur: one on 525 acres of land in Jajira upazila and another on 686 acres of land in Goshairhat upazila.

The agency has agreed in principle to build an economic zone on 1,125 acres of land in the Rajoir upazila in Madaripur.

The government has decided to set up an economic zone on 888 acres of land in the sadar upazila under Faridpur. Moreover, a feasibility study has already been carried out for another zone on 200 acres of land in Kotalipara of Gopalganj.

It has taken up a project to conduct the feasibility study for an economic zone in Khulna's Botiaghata. The governing body of the Beza has also chosen Terokhada upazila to set up a zone.

The work to perform the feasibility study to construct an economic zone in Sreepur upazila under Magura and another in Satkhira sadar upazila has been initiated.

The feasibility study for setting up an economic zone at Agailjhara in Barishal has been completed and the Beza has approved the proposal of developing an economic zone in Hizla of the district.

The Beza plans to develop an economic zone in Bhola sadar upazila. It has acquired 382 acres of land to set up a similar zone at Bheramara of Kushtia. The feasibility study is underway.

Moreover, another economic zone, located over 800 acres of land, would be set up in Dhaka's Nawabganj.

However, only setting up economic zones and establishing a globally standard connectivity thanks to the Padma Bridge will not be sufficient, said M Masrur Reaz, chairman of the Policy Exchange of Bangladesh, a private think-tank.

"The government and the private sector need to do homework to attract investments from home and abroad."

He pointed out that investors can immediately make investments in three sectors -- agriculture, IT and logistics -- in the southwestern region.

This is because the region is an agricultural hub and Bangladesh can easily export IT products from Jashore to India thanks to the geographical proximity, he said, adding that the business process outsourcing sector can grow in the region.