After several visits to different sites, the Japan International Cooperation Agency (JICA), on behalf of the government of Japan, has primarily chosen Narayanganj Economic Zone and Sreepur Economic Zone to facilitate Japanese investment in the country. The primary selection of JICA will be discussed at the joint coordination council meeting scheduled to be held tomorrow (Wednesday) with Paban Chowdhury, Executive Chairman of Bangladesh Economic Zone Authority (BEZA), in the chair, BEZA sources said. Narayanganj Economic Zone is located at Araihazar upazila of the district on 885.84 acres of land while the Sreepur Economic Zone is on 510 acres of land in Gazipur. After the approval of joint coordination council meeting, BEZA will sign a Memorandum of Understanding with JICA in connection with establishing the economic zones. It was learnt that BEZA primarily has discussed with JICA about its ownership share of the economic zones while it will be settled later. After settling ownership issues and signing MoU, JICA will conduct feasibility studies and submit a report to BEZA about the prospects of the two economic zones in terms of investment and employment generation, BEZA sources said. “Japan is keenly interested to establish several economic zones on G2G basis to promote its investors here,” said Paban Chowdhury expressing hope that Japan as well as China and India will also establish economic zones in Bangladesh. According to information, the government is working to establish 100 economic zones by the year 2030 on 75,000 acres of land across the country. Since the beginning of the initiatives, the international investors put its hawk eye. Several Japanese and Chinese companies have expressed their interest to establish economic zones here. “We are hopeful about huge foreign investment here,” said Paban Chowdhury adding that many international companies are expressing interest to establish special economic zones. BEZA has been planning to establish the economic zones by G2G scheme, private module and Public Private Partnership scheme. Out of the proposed 100 economic zones, BEZA has already got approval for establishing 37 economic zones across the country. Of the 37, two are special economic zones, seven have already been selected for private sector and one for PPP scheme.
