PM to inaugurate 50 industrial units, other facilities in EZs on Nov 20 : On November 20, to commemorate 50 years of independence, Prime Minister Sheikh Hasina will open 50 industrial units, initiatives, and facilities in Economic Zones (EZs).
PM to inaugurate 50 industrial units, other facilities in EZs on Nov 20
According to Shaikh Yusuf Harun, Executive Chairman of the Bangladesh Economic Zones Authority (BEZA), the Prime Minister will practically open 50 industrial units, projects, and facilities in the EZs around the nation. BEZA will host the event at eight locations. He continued, “These include the commercial activities of eight factories in various privately-run EZs as well as four factories at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram.
The industrial entities, according to him, have already invested more than US$967.73 million and plan to invest an additional over $331.27 million. He stated that the PM would also lay the cornerstone for 29 industrial units spread throughout various EZs, which have already spent $610 million and are on track to invest an additional $1,922.39 million. He stated that the administration buildings for the BSMSN, Jamalpur Economic Zone, Srihatta Economic Zone, and Sabrang Tourism Park are among the EZ facilities that would be officially opened
The 230-KVA Sheikh Hasina Sarani gridline and substation at the BSMSN, 20 kilometers in length, will also be officially opened by the PM, according to the BEZA chairman. She will also lay the cornerstone for a water treatment facility with a 50 MLD capacity, he continued. Four of the industrial facilities that will be officially opened are located in Bangabandhu Shilpa Nagar.
One of them, McDonald Steel Industries Ltd, creates prefabricated structural steel for use in steel high-rise structures, factories, and power plants. MS Plate manufacture is produced by Nippon & McDonald Steel Industries Limited using imported steel, purlin, slitting sheets, and coil. The producer of paints, emulsions, and related products, Asian Paints Bangladesh Limited, has made a $34 million investment in the economic zone.
On a 4-acre plot of land, Samuda Construction Limited, a producer of phc piles, is building a facility for $8.2 million. In order to promote rapid economic growth through an increase and diversification of industry, employment, production, and export, BEZA seeks to build economic zones in all potentially productive areas of Bangladesh, including underdeveloped and backward areas.
Of the planned 100 economic zones, the government has approved 97 economic zones, 28 of which are currently under development. So far, 12 privately owned economic zones have received licenses to operate and nearly $4 billion have been invested in these economic zones.
The goal is to create employment for 10 million people directly and indirectly. It is also expected to produce and export products worth $40 billion annually in these economic zones. Investors can avail of tax holiday, duty-free imports of raw materials and machinery at the economic zones.
Different nations, including Japan, China, India, Australia, the Netherlands, Germany, America, the United Kingdom, Singapore, South Korea, and Norway, have invested in the economic zones through foreign direct investments. The inauguration was originally scheduled on October 26. However, due to bad weather brought on by Cyclone Sitrang, the planned start of operations of the industrial units as well as the laying of the foundation stones for various infrastructures at the economic zones were postponed.
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