The government has given primary nod to set up ten new state-run Economic Zones (EZ) in a bid to attract investment, create jobs, preserve arable and forest land.
Besides, five private EZs have also been declared with prior approval.
Although, Economic Zone Authority (EZA) has spent additional Taka 83.08 crore for developing and setting up EZs during the last six fiscal years despite accumulating wealth by 325.83% to Taka 2376.08 crore in 2019.
Affairs of the state-run and private EZs and additional expenses of EZA were revealed from the minutes of the 7th Governing Board meeting of the Bangladesh Economic Zones Authority (BEZA) chaired by Prime Minister Sheikh Hasina.
According to the last meeting minutes of the BEZA, it earned Taka 51.37 cr by selling licenses and obtaining rents while expensed Taka 134.45 crore in the last six fiscal years from 2013 to 2019. Besides, total wealth of EZA increased to Taka 2376.08 cr in 2019 by 325.83 percent. In 2013, the wealth was only Taka 7.27 crore.
Concerned officials said the meeting decided that all agro-products processing units in EZs would get export subsidy and cash incentive like the non-EZ industries.
Regarding extra expenditure in the last six fiscal years, officials also said EZA being a state-owned organization profit is not the major objective of the concerned authority. It wants to create job opportunities and bring more investment in the country, the official further said.
According to the meeting minutes ten state run EZs will be set up in Nawabganj, Tangail, Naogaon's Sapahar, Dinajpur, Noakhali's Companiganj, Chattogram's Sandwip, Sunamganj's Chhatak, Pabna's Bera, Barishal's Hizla Char Megha and Manikganj's Shibalaya areas.
Besides, five private EZs will be set up in Sirajganj, Kishoreganj, Hosendi Economic Area, Karnaphuli Dry Dock and East West Special Economic Area also declared as EZs.
So far, construction of 101 EZs have been permitted including the newly approved ten while infrastructural and land developments are going on in 28 EZs.
BEZA meeting minutes also revealed that concerned authority has been instructed to connect the Bangabandhu Sheikh Mujib Industrial City with the Marine Drive in Cox's Bazar.
EZA has also decided to change the name of 'Maheshkhali Special Economic Zone' to 'Sonadia Eco-Tourism Park’.
The meeting minutes also mentioned that Bangladesh has already made remarkable progress in attracting investments and building small entrepreneurs. Prime Minister Sheikh Hasina hoped that her government would be able to continue the progress.
Executive chairman of BEZA Paban Chowdhury said BEZA is a non-profit organization. Its job is to improve the investment climate, he added.
He said “There is nothing to talk about losses. Our main objective is to create an investment-friendly environment.”
Sheikh Hasina reiterated her optimism that the country would further advance socio-economically despite the onslaught of the Covid-19 pandemic on the global economy including Bangladesh.
A total of 26 industries are now in production in nine EZs where 35,000 people are working. Another 192 proposals from India, Japan, China, UK, Singapore and South Korea have already been received by the EZA.
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