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The government is considering developing a Free Trade Zone (FTZ) on 400 acres of land near southern part of the Karnaphuli Tunnel in Anwara upazila in the port city.
According to experts, the establishment of FTZ is believed to be a game changer in the country's economy. Foreign companies can set up factories here and take their products abroad. They will be free from bureaucratic red tape in Bangladesh and can utilize the labour force of Bangladesh. This zone provides a win-win deal for both investors and Bangladesh.
Sources said the interim government has announced plans to establish a FTZ in the country, aligning with the growing global trend of trade liberalisation and investment facilitation.
Following the decision of the government, Bangladesh Economic Zones Authority (BEZA) on April 21 formed a national committee to conduct a feasibility study on it.
On May 8, Chairman of Bangladesh Investment Development Authority (BIDA) and Executive Chairman of BEZA Chowdhury Ashik Mahmud Bin Harun visited the potential site for the FTZ at Anwara upazila in Chattogram.
He said that the site has initially been chosen due to its proximity to both the port and the airport, which makes it logistically strategic.
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