Taking the challenge of creating huge job opportunities, the Bangladesh Economic Zones Authority (BEZA) has been marching forward in attracting huge domestic and foreign investment in the country. BEZA has a plan to establish 100 economic zones in the country while 59 economic zones have so far been selected till now. Of them, development work is going on in nine economic zones. Paban Chowdhury, Executive Chairman of the BEZA told daily sun in an interview. The BEZA chairman said that the BEZA started its journey in 2010 through the approval of Economic Zones Act-2010 to attract both the foreign and domestic investors. In 2012, five economic zones were selected in pilot basis. In a span of three years, now the number of economic zones stands at 59. Expressing hope of creating job opportunities for million of the local people, he said, “More than 10 million direct jobs will be created in the economic zones in the next 15 years while two crore people will indirectly be involved in the zones which would help eradicate unemployment problems”. In the backdrop of meeting huge demand of uninterrupted energy and gas supply to these economic zones, he said, “We are very concerned in this regard and held meetings with ministries, Petrobangla and officials of concerned departments. Petrobangla is working to explore gas from offshore and on-shore blocks and we hope we will get LNG by 2017 which will meet the energy demand.” Estimating that 7500MW power would be required in 100 economic zones, BEZA chairman also said that some foreign companies have expressed interest in constructing power stations in economic zones for smooth supply of power. “A Chinese company has sought land for construction of a 1320MW power plant in Mirershorai economic zone. We have directed them to get approval of the power division. If they get the approval, we will provide them land”, he said. Mentioning there is no scarcity of funds, he said, “There is challenge but we are exploring all the ways of financing. World Bank, DFID are releasing fund in phases and we have received $700 million from India’s promised $2bn line of credit. We will seek special fund allocation in the next budget also.” Emphasising the need for attracting more foreign investors he said the BEZA has already selected five economic zones for three countries- China, India and Japan. “With their interests, BEZA has selected two economic zones for Japan in Noimpur of Gazipur and Araihazar of Narayanganj. Two special economic zones, one in Bheramara and another in Mongla, have been selected for Indian investors and one was selected for China in Chittagong on 774 acres of land”, he said. These countries will come up with fund for setting up more economic zones and they have already expressed interests to get economic zones in Bangladesh, he said adding that Sri Lanka is also keen to set up an economic zone in Bangladesh. Stating that Sri Lankan investors are interested to make huge investment in Bangladesh he said, “According to the Board of Investment (BOI) and BEPZA data, there is huge volume of Sri Lankan investment in the country comparing to other neighboring countries. Now, Sri Lankan investors are keen to get an exclusive economic zone in Bangladesh for their investors. The process is going on.” If they fail to get exclusive zones in Bangladesh, there investment will be transferred in other economic zones, Chowdhury said. Terming the economic zones as the next catalyst for country’s economy, BEZA chairman said that the economic zones will be great sector for country’s economy after 15 years and would help to eradicate poverty and earning huge volume of export. “There is scarcity of land for industries. If we fail to use the lands in a planned way, the country will have to face difficulties in the near future. We are trying to find the unused land and make them functional in such a way that it can play pivotal role in boosting country’s investment”, he said. Citing the example of Mirershorai economic zone as the biggest EZ, he said that the land was not use worthy for couple of years ago. Now the scenario has changed totally. This economic zone will be huge and the work is going on in full pace. Mirershorai Economic Zone will be connected with many ways like – roads, sea and rail connections. Even the authority has taken a new master plan under the supervision of the World Bank for an air port in the area in the near future. Around 10 lakh people will get employment opportunity in this economic zone alone, he said. “We are getting new land in Mirershorai and Feni as new char land is being originated. With proper utilisation, we can construct hundreds of economic zones in these new areas, he said adding that “These lands have huge potential and we urged the government not to use these lands in unplanned way”.
