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Food conglomerate City Group will develop a hi-tech park at Demra in Dhaka with a proposed investment of around Tk 50 billion.
The 'City Hi-Tech Park' to be developed on 115 acres of land is expected to create employment opportunities for more than 15,000 people, according to a statement issued by the Bangladesh Hi-Tech Park Authority (BHTPA) on Thursday.
The investors will get 14 incentives while investing in the park. They will get one-stop services.
An agreement signing ceremony between the City Group and the BHTPA was held at the latter's office at Agargaon in the city on Thursday.
ICT Division senior secretary NM Zeaul Alam joined the event as chief guest. Managing Director of BHTPA Bikarna Kumar Ghosh and Chairman of the City Hi-Tech Park Md. Hasan signed the agreement on behalf of their respective sides. City Group is one of the biggest food conglomerates in Bangladesh which supplies one-third of the country's total demand.
The conglomerate has shown interest in setting up the park as part of a strategy to diversify its business. The park will be built in such a way that can attract both local and foreign investors.
While speaking as chief guest, Mr. Zeaul Alam said other big groups would also show interest in setting up such hi-tech parks following the City Group. "We expect that the City Group will implement the park soon," he said.
Mr. Bikarna Ghosh said there were five high-tech parks in the country which were now ready for investment. He said that many companies who have invested in the Bangabandhu Hi-Tech Park at Kaliakoir have started exporting their products.
"More than 140 local startups got working space free of cost in the hi-tech parks," he said.
Md. Hasan said Bangladesh will produce many new electronic and technology products at the park. "We'll produce goods which were never thought of by the local producers."