PM to open special economic zone in N'gnaj tomorrow

| Updated: December 25, 2022 18:02:51

PM to open special economic zone in N'gnaj tomorrow

Prime Minister Sheikh Hasina is scheduled to inaugurate Bangladesh Special Economic Zone (BSEZ) tomorrow (Tuesday).

The BSEZ, when fully operational, is expected to draw investment worth $1.5 billion, generating employment for nearly 0.1 million people at the initial stage.

The information was disclosed at a views exchange meeting between the Bangladesh Economic Zones Authority (BEZA) and the Development Journalist Forum of Bangladesh at the BEZA headquarters in the city's Agargaon area on Sunday.

BEZA Executive Chairman Shaikh Yusuf Harun presided over the meeting, a statement said.

According to it, two Japanese companies - Onda Corporation and NICCA Chemical - will also ink investment deals with the BEZA on Tuesday.

Located in Narayanganj's Araihazar, the BSEZ, which is also known as the Japanese Economic Zone, is expected to draw investment from Japan as well as from other countries.

Singer Bangladesh has already begun construction works of its factory there, while the BEZA has signed an agreement with Germany-based Rudolph.

Some 30 Japanese companies and 10 from other countries have expressed interest in investing in the EZ, while some are at the final stage to ink agreements.

Development of 500 acres of land in the BSEZ is at the final stage while the key infrastructure like road and utilities has been put in place.

A total of 180 acres of land in the BSEZ have been prepared to develop industrial units.

The industrial park will get a dedicated one stop service (OSS) centre and a skill development centre.

The vision to establish an EZ dedicated for Japan began in 2014, when Prime Minister Sheikh Hasina visited Japan.

Japan International Cooperation Agency (JICA) undertook the initiative to conduct the feasibility study in 2016. Later in 2019, Sumitomo Corporation from Japan inked the deal with the BEZA to develop the BSEZ.

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