BEZA, Chinese firm sign MoU to set up Bangla economic, industrial zone

12 Aug '22

2 min read

Pic: Shutterstock

The Bangladesh Economic Zones Authority (BEZA) and the China Road and Bridge Corporation (CRBC) recently signed a memorandum of understanding (MoU) to soon begin work on developing an economic and industrial zone in Chattogram's Anowara sub-district. The economic zone covering 778 acres is expected to generate 30,000 jobs, according to BEZA chairman Shaikh Yusuf Harun.

Harun said the zone is fully dedicated to Chinese entrepreneurs and investors. Chemical, automobile assembly, garments and pharmaceutical factories will be built in the economic zone.

The China Harbour Engineering Company Ltd was initially chosen for the project by the Chinese government, which changed its decision later.

CRBC, a subsidiary of Fortune Global 500 company China Communications Construction Company, focuses on global civil engineering and construction projects like highways, railways, bridges, ports and tunnels.

A government-to-government agreement was signed with China earlier for the project, Harun was quoted as saying by Bangla media reports.

He said the zone has access to water transportation and the site is suitable for export-oriented industries due to its proximity to the largest sea port in the country.

Everything will be finalised after securing the seal of approval from the Cabinet Committee on Economic Affairs.

China had expressed interest in building the economic zone when Prime Minister Sheikh Hasina visited the country in 2014.

Fibre2Fashion News Desk (DS)

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