China to begin work on developing economic zone in Chattogram

China will soon begin work on establishing Chinese Economic and Industrial Zone at Anowara upazila in Chattogram.

In this regard, Bangladesh Economic Zones Authority (BEZA) and China Road and Bridge Corporation (CRBC) signed a memorandum of understanding (MoU) in Dhaka on Thursday, BEZA said in a statement.

Ambassador of China to Bangladesh Li Jiming and CRBC Vice President Zhao Lianzhi was present at the MoU signing ceremony. BEZA Executive Chairman Shaikh Yusuf Harun presided over the ceremony.

With the signing of this agreement, the full development of the Chinese Economic and Industrial Zone is going to start. Other processes, including formation of companies to manage the economic zone, will begin in phases.

In June 2014, during Prime Minister Sheikh Hasina’s visit to China, the Chinese government expressed its interest in establishing a special economic zone and industrial zone in Chittagong. In this context, a memorandum of understanding was signed between the Ministry of Commerce of the Government of China and BEZA for the establishment of the Chinese Economic and Industrial Zone.

BEZA is already planning to build off-site infrastructure in the Chinese Economic and Industrial Zone. Following this, a memorandum of understanding was signed between BEZA and CRBC for the development of this G2G zone.

BEZA Executive Chairman Shaikh Yusuf Harun and CRBC Vice President Zhao Lianzhi signed the agreement on behalf of their respective sides.

Shaikh Yusuf Harun thanked all those involved in the signing of the agreement and said that this initiative is the beginning of a huge project and will be successfully completed by creating a planned Chinese economic zone.

He expressed his sincere thanks to the Chinese government and CRBC for being a partner in this activity. The economic zone, covering 778 acres, is expected to generate 30,000 jobs, he said.

Ambassador of China to Bangladesh Li Jiming said, “Bangladesh has already achieved a trend of economic development admirably. The Chinese government and its people want to work shoulder to shoulder with the development of Bangladesh.”

He also said that China is very proud to be a partner in this new journey of establishing the Chinese Economic Zone under the G2G initiative.

He mentioned that his government is committed to work quickly to complete the economic zone.

The signing ceremony was attended by officials from the Prime Minister’s Office, Department of Economic Relations and BEZA, among others.