Kishoreganj Economic Zone to be launched by Dec
Sharif Ahmed
The Kishoreganj Economic Zone (KEZ) will be officially launched by December 1, and a 20-km gas line has already been set up there, KEZ and Nitol Niloy Group chairman Matlub Ahmad said.
KEZ, 85km from Dhaka, is an initiative taken by the Nitol Niloy Group, which will develop 91.63 acres in Pakundia upazila under Kishoreganj district, he noted.
PricewaterhouseCoopers (PwC), a renowned consulting firm, has almost completed its feasibility study. After scrutinising the study, well launch KEZ by the first week of December, he added.
When asked about the job prospects in the KEZ, Matlub Ahmad said: As many as 2,000 people will be employed in the first year. More than 15,000 people will get jobs within the next five years.
Manufacturing plants, such as garments factories, its accessories, shoe-manufacturing factories, automotive factorties, will get top priority in the KEZ, he added.
Replying to a question, Matlub Ahmad said, Foreign investors from China and India, as well as local investors, have already proposed to invest around Tk. 100 crore, which equals to USD 1 billion, in various sectors such as garments and textiles, information technology and telecommunication, beverage, pharmaceuticals, furniture and power plants.
Japan is also ready to invest in the KEZ, he claimed.
Bangladesh Economic Zones Authority (BEZA) chairman Paban Chowdhury said: Its easy to say, but the implementation has always been difficult. The Mirershorai economic zone has been developed on 30,000 acres. Weve acquired 16,000 acres to develop the countrys biggest industrial park.
Chowdhury also said that land for 79 economic zones out of 100 has been selected. So, its no longer a dream to set up 100 economic zones, he added.
At present, Bangladesh has only USD 2 billion foreign direct investment (FDI), which is quite low compared to our GDP growth and economy, he observed.
However, the BEZA has been working to develop the tourism sector in Bangladesh. Moreover, work on the Tk. 2,600-crore project has been going on in Mirsarai to develop four-lane roads, he added.
Chowdhury said that the KEZ will play a key role in generating employment opportunities for a large number people in haor areas by attracting investors.He also said economic zones are being developed to meet three objectives: reduction of import, production of high-end products, and employment generation.
The labour cost in China is high and industry owners of that country are now planning to shift their industries to other countries. So, Bangladesh must grab this opportunity, said Chowdhury.
Under the Bangladesh Economic Zones Act 2010, the BEZA has been established to set up 100 economic zones by 2030 to attract more investment, create employment for more than one crore people, and increase export earnings.
Its broad objectives are: structural transformation of Bangladeshs economy through FDI, developing and diversifying exports, promoting skills, sharing knowledge, generating employment, and ensuring dynamic benefits for domestic industry and social and environmental sustainability.
According to the BEZA, the Bangladesh Economic Zones Act 2010 was promulgated under which the Bangladesh economic zones authority was established, with the broad objective to identify and select sites for economic zones for industrial activities, acquire land for economic zones, ensure off-site infrastructure development for economic zones, establish economic zones through public-private partnership and to provide one-stop services.
