The government bids to borrow US$ 500 million from India for bankrolling economic zones (EZs) planned across Bangladesh under a special industrialisation recipe.
Officials said the loan will be utilised for infrastructure development of Mirsarai special economic zone and different other economic zones (EZs) including Moheshkhali EZ.
"We will give a proposal to the authority concerned of India seeking a loan," said a senior official at Bangladesh Economic Zones Authority (BEZA).
India may provide loans to Bangladesh for implementation of different development projects of the country under bilateral relations. BEZA will forward the loan proposal to India shortly, he said.
"We have a plan to take an Indian loan for development of different economic zones," Executive Member of BEZA Muhammad Abdus Samad told the FE.
The government has initiated setting up 100 economic zones by 2030 for attracting foreign investors to invest in the economic hubs. Creating employment for 10 million people and producing goods and services worth U$40 billion are aimed at in undertaking the special economic recipe.
Under the agenda, BEZA is setting up four economic zones under the public move, while it has awarded two final licences under private initiative, an official concerned said.
"With the core objective of expediting industrialisation," he said, "the economic zones are being established in all potential areas across the country, including backward and underdeveloped regions, for a rapid and balanced economic development through diversification of industry, production and export."
As part of the move, five economic zones were selected for piloting in 2012. At present the number of economic zones stands at 74. Two more are underway for final approval.
BEZA also awarded prequalification licences to 13 local private companies and final licences have been provided in favour of two EZs. More EZs are now in prequalification stage.
Currently, economic zones are being built in the country under public and private initiatives guided by the Bangladesh Economic Zones Act 2010.
rezamumu@gmail.com
