Wednesday, August 12, 2020 | ePaper

Industrial city to be greener to woo investors

  • Print
Economic Reporter :
The government will set up a green industrial zone on 2,000 acres of land in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) to attract foreign and local investors in the post-Covid-19 period.
To this end, the Bangladesh Economic Zone Authority (BEZA) will take up a project at a cost of Tk4,356 crore. The World Bank will provide Tk3,970 crore in loans for the project.
The Beza has sought the remaining Tk386 crore at 1 percent interest from the Finance Division to implement the project, to be called "Private Investment and Digital Entrepreneurship", between January 1, 2021 and December 31, 2025.
A number of countries have been shifting their investments from China to other countries. Bangladesh is taking various initiatives to come by part of these investments.
If the 2000 acres of land in the Bangabandhu industrial city are prepared quickly, it will be possible to meet investors' demands.
The Development Project Proposal has already been prepared, with the Project Evaluation Committee (PEC) giving its go-ahead in a meeting held last June to present the project to the Executive Committee of the National Economic Council for its final approval.
The PEC also suggested forming a company named "BSMSN Development Company" as per BEZA law.
BEZA officials said under the new project, a 30-kilometre four-lane road, water supply and sewerage system, central effluent treatment plant, desalination plant, stream network, solid waste management plant, biogas plant, waste sorting and material recovery, rooftop and floating solar would be set up within the Bangabandhu Sheikh Mujib Shilpa Nagar-2.
An investors' club, a furnished one-stop service centre for BSMSN, an emergency response centre, a skill development centre, a child care and an emergency health centre will also be built.
BEZA officials said the project aimed at creating an enabling environment for private investment and sustainability and job creation in economic zones.
Paban Chowdhury, executive chairman of BEZA, said they want to turn the entire economic zone into a green place.
"Initially, we will develop 2,000 acres of land as a green economic zone with the help of the World Bank. We hope that foreign investors will be attracted to the zone in the post-Covid-19 era," he added.
The Bangabandhu industrial city is being developed on 30,000 acres of land touching three upazilas - Mirsarai, Sitakunda and Sonagazi - under Chattogram and Feni districts respectively. Various types of infrastructure are being constructed for its development.
With the World Bank's support for the period 2014-2021, under the Bangladesh Economic Zone Development Project Phase-I, 90 percent of the 2000 acres of land in the two zones (BSMSN-1 and BSMSN-2) of this industrial city have been filled and developed fully for industrial purposes. The land has already been allotted to a total of 104 industrial units in BSMSN-2.

More News For this Category

Debenhams to cut 2,500 more jobs amid pandemic

BBC :Struggling department store group Debenhams says it will cut 2,500 more jobs as it struggles to survive the coronavirus pandemic.This is on top of the 4,000 announced since May,

US says IMF economic outlook too pessimistic

The IMF is too gloomy in its outlook for US growth and oversteps its mandate in calling for Washington to reshape the American economy, a US official said Monday.In its

Saudi Aramco chief sounds optimistic over oil demand rise

AFP, Riyadh :The head of Saudi Aramco said Monday he was optimistic that the global demand for oil was growing as the worst of the coronavirus pandemic "might be behind

Asian markets extend gains with eyes on trade talks, stimulus

AFP, Hong Kong :Asian markets extended gains Tuesday as concerns about the China-US trade pact eased, while investors remain optimistic US lawmakers will eventually hammer out a new stimulus for

UK employment falls by biggest amount over a decade

UK employment falls by biggest amount over a decade

BBC :Employment in the UK fell by the largest amount in over a decade between April and June, official figures show.The number of people in work decreased by 220,000 on

China's factory-gate deflation eases on recovering economy

Xinhua, Beijing :China's producer prices continued to fall in July but the decline has kept narrowing as economic activities recovered amid effective epidemic control in the country, official data showed

Heathrow: Coronavirus quarantine 'strangling UK economy'

Heathrow: Coronavirus quarantine 'strangling UK economy'

Heathrow Airport's boss has warned quarantine restrictions are "strangling the UK economy", and renewed calls for Covid-19 testing at airports.Thousands of jobs are being lost because Britain is being cut

White House, Democratic leaders trade barbs over pandemic aid deal

The White House traded barbs with Democratic leaders on Monday over who is to blame for the failure to agree on a new pandemic relief package, even as coronavirus cases

India-Bangladesh ties, connectivity create new trade opportunities: Riva

India-Bangladesh ties, connectivity create new trade opportunities: Riva

Indian High Commissioner here Riva Ganguly Das on Tuesday said excellent India-Bangladesh bilateral relations and recent connectivity initiatives in railways and inland waterways created new business opportunities as these reduced

Per capita income rises to $2,064

Business Desk :The per capita income rose to US$ 2,064 in fiscal year 2019-20 from US$ 1,909 in FY19 despite the impact of Novel Coronavirus pandemic.The Bangladesh Bureau of Statistic