Finance Minister AMA Muhith expected export earnings to boost by additional US$40 billion and 10 million more jobs will be created in the economic zones (EZs).
“Our mission is to establish 100 economic zones in 30,000 hectares of land by 2030. Establishment of 76 economic zones has been approved so far and the Prime Minister has inaugurated 10 of them.”
The pre-conditions for rapid economic development is increased investment. “We are gradually increasing public investment. However, the purpose of this investment is to create investment-supporting environment for the private sector,” he added.
The finance minister said availability of electricity, gas and water connections, timely processing of investment proposals and availability of undisputed land play crucial role in attracting private investment.
He said, the government enacted ‘Bangladesh Economic Zones Act’ in 2010 for establishing economic zones in potential areas to expand or develop export
oriented industries and attract foreign investment.
Bangladesh Economic Zone Authority (BEZA) was established under Prime Minister’s Office in 2011.
“Besides, the ‘Private Economic Zone Policy 2015’ was formulated. Project clearance, visa recommendation and assistance, work permit, import or export permits services are now being processed under one stop service from BEZA,” he added.
“Development works of additional 26 economic zones are underway. According to the Prime Minister’s directives, each of the economic zones is being made environment friendly by green afforestation, establishing water reservoir and ensuring proper waste management,” he added.
He said these economic zones will be surrounded by planned cities with modern housing that will certainly lead to vibrant economic activities.
