The Executive Committee of the National Economic Council (Ecnec) approved Tuesday the proposed Economic and Industrial zone exclusively for Chinese investors, reports UNB. The proposed economic and industrial zone will be set up on 774.25 acres of land at Anwara in Chittagong involving Tk 4.20 billion (420.37 crore). The ‘Acquisition of Land for Development of Anwara-2 Economic Zone was approved at the 7th Ecnec meeting of the current fiscal year held at the NEC conference room with Ecnec chairperson and Prime Minister Sheikh Hasina in the chair. Briefing reporters after the meeting, Planning Minister AHM Mustafa Kamal said a total of seven projects were approved on Tuesday with an overall outlay of Tk 50.39 billiob. The move for setting up exclusive Chinese Economic and Industrial Zone comes after Prime Minister Sheikh Hasina proposed an industrial zone during her visit to China on June 6-11 last year. The Bangladesh Economic Zones Authority (BEZA) also signed an agreement with the Commerce Ministry of China during the visit. BEZA under the Prime Minister’s Office (PMO) will implement the project by June, 2016. The planning minister said such special economic zones are there in 119 countries across the world with 2031 are in operation. Out of that number, 436 are in India, 460 in China and about 200 in the Philippines. The project aims to create a congenial business environment for attracting Chinese companies there as well as creating scopes for jobs for ensuring sustainable economic development. As per the deal Bangladesh will provide land to Chinese investors on a long-term lease basis and a firm nominated by China will set up the economic zone on the land. Once the project is implemented, a substantial number of jobs will be created for Bangladeshis. Ecnec meeting gave nod to another project titled ‘Greater Chittagong District Rural Infrastructural Development (Chittagong and Cox’s Bazar district) with Tk 3.66 billion. Besides, the Ecnec meeting approved another project titled ‘Extension of irrigation facilities by using surface water through ‘double lifting technology’ (3rd phase) with Tk 1.18 billiob. Bangladesh Agricultural Development Corporation (BADC) under the Ministry of Agriculture will implement the project by June 2020.
