Industrial land crisis

Insufficiency of land for setting up industries at appropriate locations has come up as a major obstacle to the country's much-desired industrial growth. Finding out industrial lands with required facilities has been a key constraint for long. Lately, the situation has worsened beyond the scope of stopgap arrangements, and hence the need for a long-term policy in this respect is a matter of critical importance.
The country saw unprecedented violence and vandalism in the past year with a heavy toll on the industrial sector affecting production, movement of goods for export and procurement of raw materials. Now that the dust seems to have settled, one of the key constraining factors of the economy is being recognised to be the stagnating investment scenario. It is here that the issue of industrial land crisis has emerged as the crucial need to be addressed as a matter of priority. Facility of special zones for both domestic and foreign investors is now a key demand of the business community.
The government has reportedly set a priority to arrange over 10,000 acres of land for industrial plots across the country in the next three years and five special economic zones (SEZs) to be operational by the end of its tenure. The business community, however, is not convinced as past experiences have shown how unfinished jobs and erratic policies have made many industrial plots, particularly those under the Bangladesh Small and Cottage Industries Corporation (BSCIC), non-functional. They do not appear to look assured on the face value of such plans. And so, they are gathering under their respective associations to voice demands for speedy implementation of the plans regarding SEZs. What makes them worried is whether the government would be in a position to put in place required infrastructure facilities including gas and power.
In a land-scarce country like Bangladesh, it is the lack of government plans that has already caused colossal damage to the process of industrialisation. Absence of facilities such as road connectivity to the highways and ports and power and gas supplies has pushed entrepreneurs to set up industrial plants close to the major urban locations, even at the heart of the capital city, Dhaka, and Chittagong. The result by now has proved to be threatening on many counts. The finance minister mentioned at a press briefing the other day that no more industrial plants would be allowed to be set up in and around the vicinity of the Dhaka city. While this explains the load on the urban locations, the need to seek a viable recourse remains a formidable challenge to take on.
Now that the business community is more demanding than ever on the issue of industrial lands at suitable locations with required infrastructure, it is not a matter of fulfilling wishes of a group of entrepreneurs, but one that the economy needs for its very sustenance. The stagnation in investment often referred to as a down syndrome in the way of the economy's recovery can be expected to change gears only if investment is provided with the right impetus. The concern expressed by the business community deserves serious consideration.