BEZA appoints consulting firm for developing Japanese EZ

Nippon Koei, Koei Research & Consulting Inc. and Nippon Koei Bangladesh will jointly work as the consulting firm for developing the Japanese Economic Zone (JEZ).

The Bangladesh Economic Zones Authority (BEZA) signed an agreement with Nippon Koei to this effect on Wednesday, according to a BEZA statement.

The Japanese Economic Zone (JEZ), spreading over 1,000 acres of land in Araihazar Upazila of Narayanganj, is expected to be operational in 2022.

Once completed, the country-specific Economic Zone (EZ) would bring in investments worth US $20 billion from mostly renowned Japanese brands, according to BEZA.

BEZA Manager Saleh Ahamed and Masayuki Fujii of Nippon Koei signed the deal at the BEZA headquarters in the city, with BEZA Executive Chairman Paban Chowdhury in the chair.

Speaking on the occasion, Paban Chowdhury said BEZA has been able to finalise the deal in line with the guidelines prepared by the government and the Japan International Cooperation Agency (JICA).

According to the statement, the JEZ is the country's first economic zone being established under the government to government (G2G) scheme.

Half of the 1,000 acres of land for the JEZ has already been acquired, while the acquisition process for the remaining 500 acres is ongoing.

A project titled 'Foreign Direct Investment Promotion Project' has been undertaken in March this year to develop the land for JEZ, build infrastructure and install utility lines at a cost of Tk 25.82 billion, the statement added.

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