BEZA gets $17b investment commitment in 7 months

The Bangladesh Economic Zones Authority (BEZA) received investment commitment of $17 billion, including $8 billion as FDI, in last seven months.

Executive Chairman of(BEZA) Paban Chowdhury came up with the statement on Monday during a meeting with Board of Directors of the Dhaka Chamber of Commerce & Industry (DCCI).

Paban Chowdhury said BEZA needs 100,000 acres of land for setting up 100 economic zones across the country.

BEZA has already acquired 75,000 acres of land in their custody, he said.

It has already given licenses to the private sector out of 11 for six economic zones.

The economic zone authority also plans to establish a global standard 'One Stop Service Desk' by December this year with the technical support of Japan International Cooperation Agency (JICA).

The BEZA chief said they have already reformed some of the legal framework to boost investment in EZs.

Talking about some economic zones, Paban Chowdhury mentioned Chittagong's Mirsarai and Cox's Bazar economic zones.

He said Mirsarai Economic Zone has the capability of getting investment worth about US$25billion.

BEZA will establish an economic zone in an area of 24,000 acres in Cox's Bazar.

In this zone, 4,000 acres will be allocated for industrial establishments and 20,000 acres for tourism park for the development of the country's tourism sector.

DCCI President Abul Kasem Khan urged to settle some of the challenges; like land development, inadequate utility service, communication and infrastructure; for proper implementation of EZs.

According to BSS, Kasem Khan said EZs need to be ensured about guaranteed energy and power at a lowered tariff.

He said the entire power and gas connection and supply process needs to be expedited within maximum 60 days, especially for EZs.

BEZA executive members Mohammed Ayub and Md Harunur Rashid were present, DCCI Senior Vice President Kamrul Islam, Vice President Riyadh Hossain, former President Hossain Khaled were present, among others, at the meeting.