The government is likely to award two special economic zones (SEZ) to Indian investors-one at Mongla in Bagerhat and the other at Bheramara in Kushtia. The Mongla SEZ would be set up on about 205 acres of land and the other in Kushtia on 477.16 acres. A Memorandum of Understanding (MoU) is likely to be signed between the governments of Bangladesh and India during the upcoming visit of Indian premier Narendra Modi who arrives here on June 6 next on a two-day visit. Following an official letter of the Indian High Commission last week, the foreign ministry requested the Bangladesh Economic Zones Authority (BEZA) to move ahead with the matter. “We have prepared a draft MoU which has been sent for approval of the government high-ups,” said BEZA executive chairman Paban Chowdhury. The BEZA has sent the draft to the ministry for consent of the Indian counterpart, he added. Earlier, a feasibility study had been conducted to find out the economic potentiality of the Indian investment. Sources said India chose the locations for investment. Also, a train line would be constructed under the Indian LOC (line of credit) in the Mongla area. India, under its credit line, will assist Bangladesh to construct a new rail-line between Khulna and Mongla to connect the country’s second seaport with a railway network. In connection with the assistance, the Bangladesh Railway (BR) already signed a joint venture consultancy service contract with the Consulting Engineers Group Ltd and Nippon Koei India Private Ltd of India. BEZA officials said the economic zones would be awarded if both the party agree on the relevant terms and conditions. The government in February last approved proposals for setting up 17 economic zones in the country, including three private zones-one in Narsingdi and two in Munshiganj. The government has also approved special incentive packages for local and foreign investors to attract their investment in economic zones. The government enacted the private economic zone law in 2010 aiming to materialise the Vission-2021 by expediting economic growth and alleviating poverty.
Source: https://www.thefinancialexpress-bd.com/2015/05/27/94297
