BEZA owns land at Mongla port to develop zone

The economic zone authority has owned lands in Mongla port area for the first time since its formation in 2010, officials said.
The Bangladesh Economic Zone Authority (BEZA) has purchased the land within the Mongla port area at Tk470 million to establish a cluster.
The purchase was done after the finance ministry released the money.
A BEZA director said "We've got he money and already owned lands for the first time"
He said "We'll issue request for proposal (RFP) soon as both local and foreign contractors may submit their proposals in developing lands and attract investors."
If contractors are selected, the authority will provide them work orders under which they could develop lands for local and foreign investors.
The Bangladesh Economic Zone Act 2010 has laid emphasis on local investments in the planned economic zones.
According to the act, zones will be developed under public and private partnership.
The authority is refusing large scale investments due to land scarcity in the export processing zones.
A Board of Investment official said land crisis is worsening day by day for foreign direct investments.
He said the move to develop economic zones could help local and foreign investors.
The BEZA's success in owning lands is a good start of new concept along with the existing export processing zones under the BEPZA.
Another official at the authority said, "We have also selected lands in Anowara, Mireshorai, Sirajgonj, Sherpur, Moulavibazar and in some other districts to own and develop lands."
"Gradually we will seek money from the government and will purchase lands under our ownership", he said.
According to officials, a good number of local investors have shown their interest to develop lands under the zone authority through public-private partnership.
The economic zone authority said they would just own the lands and private party would develop them, operate, manage and bring foreign and local investments at their own initiatives.
It also said the first RFP would be invited soon where the local and foreign firms may participate.
"At the initial stage we do not have funds and that is why we are taking fund from the government and we will repay money to the government after land sale," a BEZA official said.