Govt-WB identifies Kaliakoir as first site for economic zone
Tuesday, 16 March 2010
The government and the World Bank (WB) have identified Kaliakoir of Gazipur as the first site for an economic zone, reports BSS.
The proposed economic zone would be turned into a hi-tech industrial park and other potential areas including existing export processing zones (EPZs) could be brought under the economic zone regime, a WB spokesman told BSS today.
The site has been chosen as the entire area is semi- developed with a boundary fence and over 50 per cent elevated land requiring no earth filling and strategically located to take advantage of the utility services avaibale in and around the zone.
Private sector investors say economic zones are most important tools for attracting private investment for generation of employment and accelerating economic growth.
Economic zones offer entrepreneurs serviced land and quality infrastructure, doing business and removing barriers in the way of private sector development.
Economic zones will create more linkages with the domestic economy compared to that of EPZs as those require industries located within the zone to export at least 90 per cent of their products.
The World Bank, in collaboration with IFC and DFID, is supporting the government in improving Bangladesh's competitiveness as an investment destination as well as promoting the domestic private sector.
The proposed project will also focus on human resource development and better compliance with environmental and social standards.
It is currently being designed through close consultation with both the government and private sector stakeholders to determine the necessary activities that will support sustainable private sector development.
The proposed economic zone would be turned into a hi-tech industrial park and other potential areas including existing export processing zones (EPZs) could be brought under the economic zone regime, a WB spokesman told BSS today.
The site has been chosen as the entire area is semi- developed with a boundary fence and over 50 per cent elevated land requiring no earth filling and strategically located to take advantage of the utility services avaibale in and around the zone.
Private sector investors say economic zones are most important tools for attracting private investment for generation of employment and accelerating economic growth.
Economic zones offer entrepreneurs serviced land and quality infrastructure, doing business and removing barriers in the way of private sector development.
Economic zones will create more linkages with the domestic economy compared to that of EPZs as those require industries located within the zone to export at least 90 per cent of their products.
The World Bank, in collaboration with IFC and DFID, is supporting the government in improving Bangladesh's competitiveness as an investment destination as well as promoting the domestic private sector.
The proposed project will also focus on human resource development and better compliance with environmental and social standards.
It is currently being designed through close consultation with both the government and private sector stakeholders to determine the necessary activities that will support sustainable private sector development.