Building 5 EZs faces inordinate delays

Jasim Uddin Haroon | Published: July 01, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Industrial activities in the five proposed economic zones (EZs) seem to be far off as the site-development works are moving at a very slow pace, sources in the know about the developments involving the EZs said.
Earlier, the governing body headed by the prime minister approved five sites in 2012 for constructing the first-ever economic zones in the country.
And, so far, the authorities concerned have issued only request for proposals (RFP) for Mongla site. The site with the land area of 205 acres belongs to Bangladesh Economic Zones Authority (BEZA). BEZA purchased the land from the Mongla Port Authority.
The developers, selected after EOI (expression of interest), will construct necessary infrastructures on the Mongla site and they will invite investors for setting up plants in the zone.
Official sources at the BEZA hinted that six months more would be required for finalising negotiations between the BEZA and the developers for Mongla site.
They also said the developers will take at least 1-2 years for constructing necessary infrastructures there. They will also invite investors both from home and abroad.
Many investors said the Mongla site will not be attractive to them as salinity on the surface is too high.
They said the government tried much to woo investment in Mongla Export Processing Zone but all efforts had failed.
BEZA sources said it is likely to issue RFP for the Sirajganj site shortly. But the BEZA is yet to settle land issue. The proposed land area for the site is over 1000 acres, just adjacent to Bangabandhu Bridge over the Jamuna River.
The progress on the remaining three sites- two in Chittagong and one in Moulvibazar- is in the primary stage.
A senior official at the BEZA told the FE that his office is conducting feasibility studies on the three sites.
He also said investment in the zones would take time. "We did not fix timetable for launching economic activities in the sites."
This is a public-private-partnership initiative and the BEZA will provide land and the developers will construct required infrastructures. The developers will invite investors to make investment in the zones.
However, BEZA sources said they have, in the meantime, finalised 11 more sites across the country for the economic zoning.
Md Moniruzzaman, manager (investment promotion) at BEZA, said the 11 new sites will be finalised at the governing body meeting.
Asked about the economic zones in the privately-owned land, he said BEZA has already prepared detailed guidelines for the private economic zones.
"The guidelines are in the process of vetting at the Ministry of Law." Parliament passed an act styled Bangladesh Economic Zones Act 2010 to spur investment in the country.