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Hamid Group to set up economic zone in Mymensingh

FE Report | December 27, 2018 00:00:00

Hamid Group, a Bangladeshi conglomerate, will set up an economic zone on 153 acres of land in Mymensingh, aiming to give an impetus to the country's economy.

The Bangladesh Economic Zones Authority (BEZA) issued a pre-qualification licence to Hamid Group to this end at a ceremony held at BEZA headquarters in the city on Wednesday.

BEZA Executive Chairman Paban Chowdhury, its Member Md Harunur Rashid, Managing Director of Hamid Group Enthekhabul Hamid and its Advisor Royees Khan attended the ceremony.

The proposed Hamid Economic Zone (HEZ) is expected to attract foreign investment in several sectors such as food processing, light engineering, furniture, cosmetics and leather footwear.

Speaking on the occasion, Paban Chowdhury said investors from home and abroad are showing their interest to invest in the country's economic zones (EZs) as the government is offering various facilities to them.

Presently, some industrial units are running in seven EZs, while 10 other EZs are getting ready, he added.

Mentioning various facilities offered by the government to investors in the economic zones, the BEZA executive chairman said: "We are ready to launch the One-Stop Service at the BEZA office to help businesses get all required services from one place."

Referring to the successes of EZs, Mr Chowdhury said Japanese automobile brand Honda has already started manufacturing motorcycles in privately run Abdul Monem Economic Zone.

Hamid Group's EZ will also help attract such renowned brands in Bangladesh, he added.

The HEZ will be established at Trishal by the Dhaka-Mymensingh highway on 153 acres of land, which will be expanded to 300 acres in the future.

Work on development of infrastructure in the private EZ will start in mid-2019 with an investment of Tk 13.44 billion.

The proposed EZ will host 67 industrial units in various sectors, including readymade garments (RMG), chemical, ceramic products, plastic and leather footwear. The EZ is expected to create more than 38,000 employments.

The BEZA will establish 100 EZs across the country to help Bangladesh achieve its goal of becoming a developed nation by 2041.

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