Bangladesh Export Processing Zone Authority (BEZA) is planning to establish a special economic zone for the food processing sector to spur investment and boost food exports.With assistance from the Asian Development Bank (ADB), BEZA is planning to establish the economic zone, the first of its kind in the country, exclusively for food processing units.“To ensure safe processed foods and boost food exports, BEZA in cooperation with the ADB is planning to set up the special economic zone,” said Md Harunur Rashid, Project Director (Joint Secretary) of BEZA.Sources said a team from the ADB held a meeting with BEZA officials on Thursday and showed the international lender’s interest to provide assistance to the project.Sources in BEZA said the proposed economic zone will bring all the food processing units and agro-based food producers under a single platform. The economic zone will boast laboratories to ensure the quality standards of the processed foods to be manufactured there for both local and international markets.The ADB officials have proposed the BEZA to set up the economic zones in an area with high agricultural productivity. BEZA earlier has approved establishment of two economic zones in Nilphamari and Panchagarh.While talking to daily sun, BEZA Project Director (Joint Secretary) Md Harunur Rashid said the ADB officials have sought information on the rules of establishing economic zones. The ADB will assist either BEZA or the developers to establish the economic zone, he added.He also said “As the discussions are still in primary level, we are yet to finalise the site for the economic zone.”During the meeting, BEZA officials informed the ADB team about the incentives it provides to the developers and investors. Sources said the ADB will initially conduct a feasibility study on the project.“Food adulteration has become a grave concern for public health lately and such initiative of establishing a special economic zone for the food processing sector will help Bangladesh ensure safe foods for the consumers and achieve international accreditation on its food products to boost exports,” said the BEZA project director.BEZA Executive Chairman Paban Chowdhury said it is a unique effort as there is no economic zone for the food processing sector in Bangladesh.He also said he is hopeful that ADB move fast to assist in establishing the proposed economic zone.The government is planning to set up a total of 100 economic zones in different parts of the country by the year 2030 to fetch more foreign investment and create more jobs.The economic zones will be set up on 75,000 acres of land under the supervision of Bangladesh Economic Zones Authority (BEZA).
