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The proposed 'Bhola Eco-Development Economic Zone' recently received a pre-qualification licence from the Bangladesh Economic Zones Authority (BEZA), paving the way for new prospects for industrial growth in the country's southern region.
The economic zone (EZ), designed to be an eco-friendly, labour-intensive, and agro-based industrial area, is expected to attract investments worth $1.0 billion and create direct and indirect employment for nearly 100,000 people.
To be developed on 102.46 acres of land in Bhola Sadar upazila, the EZ will accommodate fish processing, meat processing, dairy production, and agro-based manufacturing plants in 40 plots, according to a statement issued by BEZA on Tuesday.
The EZ will gradually expand to 158 acres in the future.
BEZA Executive Member (Planning & Development) Major General (Retd.) Md. Nazrul Islam said the EZ in Bhola is set to become the first economic zone in the Barishal division, with China's Liz Fashion Industries Limited as its developer.
"The zone will play a vital role in fostering industries based on fisheries and agricultural resources," he was quoted as saying by the statement. "Alongside revitalising the economy of the southern region, it will also emerge as an attractive destination for both local and foreign investors," he added.
Managing Director of the EZ, Zhuang Lifeng, said that they were working to develop an eco-friendly and circular economic zone.
He noted that Chinese investors had already shown strong interest in investing there. The company expects to leverage Bhola's gas and agricultural resources to attract significant foreign investment.
Liz Fashion Industry Limited, a China-based company, has already made substantial investments in Bangladesh in garments, textiles, and other sectors.
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