For the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram, the Bangladesh Economic Zones Authority (BEZA) has received investment offers worth roughly US$20.13 billion from 153 investors.
Over 6,000 acres of land have already been given to investors by the zones authority.
According to a BEZA official, the Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Garments Village, and Public-Private Partnership (PPP) Zone have already been awarded a total of 6,131 acres of land in BSMSN.
According to the official, Zhuzhou Jinyuan Chemical Industry Company Limited of China, Nippon Steel of Japan and Bangladeshi MacDonald Steel Building Product Limited (Joint Venture), Indian Asian Paints BD Limited, Mango Teleservices Limited, and Modern Syntex Limited of Bangladesh are establishing factories in the industrial park.
BEZA Executive Chairman Shaikh Yusuf Harun told BSS that Bangabandhu Sheikh Mujib Shilpa Nagar is one of the most favorable locations in the country for building up industrial companies.
He claims it is located along the Dhaka-Chattogram industrial corridor because business and living costs are much lower in Mirsarai and Chattogram divisions than in other developing cities throughout the world.
“It has beneficial implications and contributions in transforming Chattogram into a prominent regional business hub,” he continued, citing the high-quality business-friendly environment.
He expressed confidence that the BSMSN, the country’s first planned industrial metropolis, would pave the path for the development of a truly world-class commercial and industrial center.
BEZA is expanding the industrial city in order to promote rapid economic growth by increasing and diversifying industry, employment, production, and export.
The industrial city is being built on 30,000 acres of land that runs through three upazilas in the Chattogram and Feni districts: Mirsarai, Sitakundu, and Sonagazi. It is situated at the mouth of the Feni River and extends for 25 kilometers along the Sandeep Channel of the Bay of Bengal. On February 28, 2016, Prime Minister Sheikh Hasina lay the foundation stone for the EZ.
BEZA is working on a comprehensive master plan for the development of this self-contained industrial city, which will include a sea port, rail link, marine highway, residential area, tourism park, power plant, hospital, school, and university.
Garments and their supporting industries, agro-products and agro-processing products, integrated textiles, leather and leather goods, shipbuilding, motorcycle assembly, food and beverage, pint and chemical, paper and products, plastics, light engineering (including auto-parts and bicycles), pharmaceutical products, power and solar park will all be established in the industry.
Within the next 15 years, the city is predicted to employ 1.5 million people and generate $15 billion in exports from its industrial enclave.
