Bangladesh Economic Zones Authority (BEZA) will, for the first time, appoint a private company in Mongla Port zone by February to develop lands for attracting private investments, an official said.
Having owned 205 acres of land in Mongla Port, the authority has already started off-side infrastructure works like constructing bridges, culverts and access roads, he said.
A BEZA official said they have already received documents from several foreign and local firms that are interested to invest money for developing lands in the government selected site in Mongla for setting up an economic zone.
He said all the procedures are already in final stage and a single party would be selected from the interested ones after opening the documents on February 12.
The private land developing party will operate the economic zone after developing it and they will invite local and foreign investors to the zone, he added.
The BEZA borrowed Tk 470 million from the Ministry of Finance (MoF) and purchased lands from the Mongla Port Authority.
BEZA director Md Abdus Samad said, "At present we do not have our own fund and so we are borrowing money from the MoF."
"Money might be available within a year of commissioning the site to the private party," he said.
Relating to the slow development process he said it is a lengthy matter to acquire lands, attain ownership and select a private party.
He said apart from Mongla Port, the authority has sought financial support from the government to acquire lands in Moulvibazar.
A loan proposal involving Tk 5.32 billion has been placed to the government for purchasing 532 acres of lands for this (Moulvibazar) site, he said.
Since its initiation in 2010 the BEZA has selected lands in several parts of the country including Chittagong and Sirajganj but they are yet to select any private party for land development.
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