Yunus calls for faster infrastructure development of Matarbari

Chief Adviser Prof Muhammad Yunus has called for the rapid development of key infrastructure in the Matarbari region to transform the coastal zone into Bangladesh's premier manufacturing and export-oriented free trade hub.

At a high-level meeting at State Guest House Jamuna in Dhaka on Monday, he reviewed the progress of the Moheshkhali-Matarbari Integrated Infrastructure Development Initiative (MIDI), according to a statement.

Envisioned in 2014, the MIDI has been jointly undertaken by Bangladesh and Japan to transform around 20,400 acres of land in the Moheshkhali-Matarbari region into a strategic economic corridor, integrating logistics, energy, and industrial development.

Sarwar Alam, director general of the MIDI Cell, which is driving the initiative some 350 kilometres southeast of the capital Dhaka, presented an overview of ongoing projects.

"Matarbari is envisioned as the country's largest hub for ports, logistics, manufacturing, and energy. To realise this vision, we must attract substantial foreign investment," said Prof Yunus.

"Matarbari is envisioned as the country's largest hub for ports, logistics, manufacturing, and energy. To realise this vision, we must attract substantial foreign investment," said Prof Muhammad Yunus

He stressed the importance of a coordinated master plan to facilitate such investments and noted growing international interest in the region's strategic sectors.

The chief adviser directed the road transport and shipping secretaries to expedite the construction of road networks linking the MIDI region to other parts of the country.

He also emphasised the need to build terminals capable of accommodating large ocean-going container vessels.

In addition, the chief adviser underlined the necessity of urban development in the area, calling for a planned city to support the anticipated workforce for industries expected to emerge in the free trade zone.

Prof Yunus is scheduled to highlight the development of the MIDI region during an official visit to Japan starting May 28.

He is set to attend the 30th Nikkei Forum on the Future of Asia in Tokyo and hold bilateral talks with Japanese Prime Minister Shigeru Ishiba on May 30 to secure funding for key projects.

The meeting also disclosed that Japan plans to set up its second exclusive Japanese economic zone in the MIDI region. The first, in Araihazar of Narayanganj, has already attracted significant foreign investment.

Several global companies, including Saudi petrochemical giant Aramco, Abu Dhabi Ports, Saudi port operator Red Sea Gateway, Japanese power producer JERA, and Malaysian petrochemical firm Petronas, have expressed interest in investing in the region.

In a major development, Dhaka recently signed a deal with Japan's Penta-Ocean Construction Co Ltd and TOA Corporation to build Bangladesh's first deep-sea port at Matarbari.

The project, supported by the Japan International Cooperation Agency (JICA), is a flagship component of the MIDI.

The meeting was chaired by Principal Secretary Md Siraj Uddin Miah and attended by SDG Principal Coordinator Lamiya Morshed, alongside secretaries from the ministries of road transport, shipping, energy, power, and local government.