The government has started the process of acquiring land for building a special economic zone dedicated to Japanese investors at Araihazar Upazila in Narayanganj, officials said.
State-run Bangladesh Economic Zones Authority (BEZA) had earlier signed an agreement with Sumitomo for setting up the economic zone in the upazila of the district.
The land acquisition section of Narayanganj district administration issued notices (first notice) to the land owners of Panchrukhi and Panchgaon mouzas of the upazila.
The proposed special economic zone for Japanese investors will be built on 491 acres of land.
Once the economic zone is built, it will open up employment opportunities for around 50,000 people, a senior official of the BEZA told the FE.
Under the existing rule, the government compensates for one and a half times the market value of land if acquired for development purposes.
The owners have welcomed the economic zone in the area, but wanted the government to give the compensation three times the existing market value of lands.
The land owners in the mouzas told the FE they wanted the government to give them compensation three times the present market value as the parliament has recently passed a law with such a provision.
"We welcome setting up a Japanese special economic zone in our area. We just want three times compensation so that we can pass our days without financial constraints," Turan Bhuiyan, a land owner of the area, told the FE.
General Manager of the BEZA Md. Moniruzzaman told the FE they had an exchange of views meeting with the land owners on Wednesday regarding the implementation of the proposed Japanese special economic zone.
He said they had discussed all issues including the rehabilitation of land owners, three times compensation of land prices, environment and the possibility of future employment for the local people in the Japanese economic zone.
© 2024 - All Rights with The Financial Express
