We’ve to develop our port to build country as manufacturing hub, says BIDA Chairman

CHATTOGRAM, May 08: Investments worth US$ 800 million would be made centring on the existing container terminal at Laldia Char in Chattogram, said BIDA chairman Chowdhury Ashik Mahmud Bin Harun on Thursday.

The chief of Bangladesh Investment Development Authority (BIDA) said, "To build Bangladesh as a manufacturing hub, we need to develop our ports; we need to engage world's top port operators for this. An USD 800 million investment will be made centring on the existing container terminal at Laldia Char on the south-east bank of the Karnaphuli in the port city Chattogram."

He also said, "Chattogram is at the heart of our economic development goals."

Talking with the journalists after visiting a potential site for a Free Trade Zone (FTZ) and the Chittagong Port, the BIDA chief said, "FTZ will be established on 400 acres of land at Anwara upazila in Chattogram. It will be a "game changer" for the country's economy. A free zone is almost like an overseas territory. Foreign companies can set up factories here and take their products abroad. They will be free from all the red tape in Bangladesh. They will utilise the labour force of Bangladesh. This FTZ will provide a win-win deal for both investors and Bangladesh."

The BIDA chief said that the Anwara site was under primary consideration due to its proximity with both the seaport and the airport, which makes it logistically strategic. "Now we are searching for suitable space for the free zone. We have visited a piece of land in Anwara which is our primary consideration today."

Talking about the Bay Terminal of Chittagong sea port, he said, "Bay Terminal of Chittagong Port will create employment for 25,000 people. PSI Singapore and DP World will each invest over $1.0 billion to construct two separate terminals for the Bay Terminal. The investor for the third terminal will be chosen through a competitive tender process, where both local and international operators can participate. Construction is expected to be completed by 2030."

He said, "Once Bay Terminal is completed, mother vessels with a draught of 13 meters will be able to berth at the Bay Terminal jetties, and the Chittagong Port Authority (CPA) will be able to handle 3.5 million TEUs of containers annually through this terminal alone. Bay Terminal will play a game-changing role in the economy of Bangladesh."

Talking about the proposed Laldiarchar Terminal of Chittagong Port, he said, "AP Moller-Maersk, a Danish shipping and logistics company, will likely invest USD 800 million in constructing the Laldia container terminal at Chittagong Port. They need to invest roughly USD 800 million for this terminal, which will come as foreign direct investment (FDI). Bangladesh will not invest here."

The BIDA chief and also Executive Chairman of Bangladesh Economic Zones Authority (BEZA), Press Secretary to the Chief Adviser Shafiqul Alam and Deputy Press Secretary Mohammad Abul Kalam Azad Majumder visited the Chittagong port including Bay terminal, Laldiar Char Terminal area, Newmooring Container Terminal and proposed Anwara FTZ location area on the day. During the visit CPA Chairman Rear Admiral SM Moniruzzaman and top officials were present.

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