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Govt to build planned cities around economic zones

FE Report | June 08, 2018 00:00:00

The government will build planned cities with modern housing facilities around the economic zones, now under construction, to foster economic activities.

During the presentation of budget for fiscal year (FY) 2018-19 on Thursday, Finance Minister AMA Muhith shared the government plan to create investment-friendly climate for the private sector.

Describing the current status of the economic zones, the finance minister said the government has approved 76 economic zones and the development work for additional 26 zones is going on.

"These economic zones will be surrounded by planned cities with modern housing that will certainly spur vibrant economic activities," he said.

Mr. Muhith said availability of electricity, gas and water connections, timely processing of investment proposals and access to undisputed land are crucial to attract private investment.

"Project clearance, visa recommendation and assistance, work permit and import/export permits services are now being processed under one-stop service from the Bangladesh Economic Zones Authority," the Finance Minister said.

The government plans to develop 100 economic zones by 2030 to create 10 million jobs and manufacture export-oriented products worth $40 billion.

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