Honorable Prime Minister Presides over 7the Governing Board Meeting of Bangladesh Economic Zones Authority
Bangladesh Economic Zones Authority (Beza) has approved setting up 10 more economic zones, taking the tally of such areas to 98, out of which work on 28 are currently underway.
The approval came at a virtual meeting of the Beza Governing Board on August 20, 2020 with its Chairperson, Prime Minister Sheikh Hasina, in the chair through videoconferencing from Gono Bhaban.
The new zones are Nawabganj Economic Zone, Nawabganj; Tangail Economic Zone, Bhuapur; Sapahar Economic Zone, Sapahar, Naogaon; Dinajpur Economic Zone, Dinajpur Sadar; Noakhali Economic Zone, Companiganj; Sandwip Economic Zone, Chattogramme; Sunamganj Economic Zone, Chhatak, Sunamganj; Pabna Economic Zone, Bera, Pabna; Charmegha Economic Zone, Hijla, Barisal; and Manikganj Economic Zone, Shibalaya, Manikganj.
BEZA would conduct feasibility studies and start acquiring necessary land for setting up the zones.
Prime Minister Sheikh Hasina asked BEZA to promote small entrepreneurs, particularly the young generation, alongside attracting foreign investment. “It (BEZA) will have to work in a way so that foreign investment comes on one hand and local people can invest on the other, or we can promote small investors. That means we need to attract and promote our young generation.” Prime Minister said the government is setting up special economic zones across the country to attract investment, create jobs and protect arable and forest lands.
“There’s no doubt our economy is an agriculture-dependent one but we need industrialisation at the same time, because, no country can make progress without industrialisation.”
The Premier said the government has been on all-out efforts to gear up industrialisation to create jobs, enhance production, raising the purchasing power of people, fulfilling local demands and boosting exports.
“While going for industrialisation, we have to keep it in mind that arable lands must be protected to ensure food security for the growing population in a small country like Bangladesh.”
The prime minister said if 100 economic zones could be established as per the target of the government, poverty would be alleviated in the country, production and export income would increase and the foundation of the country’s economy would be strengthened.
The meeting also decided to provide export subsidy or cash incentive at the same rate as non-economic zone companies to all categories of agro-processing industries established in economic zones focusing export. Furthermore, the Board also approved name alteration of Sonadia Eco-Tourism Park instead of Maheshkhali Special Economic Zone.
The prime minister directed all agencies concerned to take immediate steps to formulate a comprehensive strategy and future action plan to attract investors to Bangladesh as part of the trend of global relocations in the wake of the Covid-19 pandemic.
Ministers of Planning, Agriculture, Industries, Commerce, Post and Telecommunication, State Ministers of Energy and Mineral, Labour and Employment, Principal Secretary of PMO, Governor of Bangladesh Bank, Chairman of National Board of Revenue, Secretaries of different Ministries and representatives of business chambers attended the 7th Governing Board Meeting.
