Japan has taken a move to start the process of development of proposed Japanese Economic Zone (JEZ) soon, officials said. As part of the move, the Japan International Cooperation Agency (JICA) sent a letter to the Bangladesh Economic Zones Authority (BEZA) on June 26 last to begin the process of development of the zone, they added. The JICA requested the BEZA to announce a notice on its website, seeking expression of interest (EoI) for development of the zone. The donor also sent a format in this regard, they also said. The BEZA under the Prime Minister’s Office (PMO) would announce a notice, seeking EoI from potential developers of Japan to develop the JEZ, a senior official of the BEZA said. The BEZA has been working relentlessly for last two years to establish the zone that will be set up on a government-to-government (G2G) basis and as per the Bangladesh Economic Zones Act 2010, he added. The committee members examined the notice and agreed to announce it on the BEZA’s website soon, an official concerned said. “Japanese investors are carrying out feasibility study at two sites in Narayanganj and Gazipur to establish the zone. They will finalise a site after conducting the study,” Executive Member of the BEZA (Investment Promotion) Muhammad Abdus Samad told the FE. The BEZA has set an ambitious target of building 100 economic zones across the country by developing about 75,000 acres of land. It wants to create employment opportunities for about 10 million people by 2030 and to produce $40 billion worth of products and services, a source concerned said. The BEZA has so far selected 59 sites across the country for economic zones, he said. The BEZA is governed by a 3-level management structure such as Governing Board, Executive Board and BEZA Office/Secretariat. The Governing Board is the highest body that takes overall policy decisions. It is headed by the Prime Minister with top-level representations from ministries or divisions.
