The Bangladesh Economic Zones Authority and the Japan International Cooperation Agency on Monday signed an agreement for ‘Preparatory Survey on Ocean Front Economic Zone Development in Bangabandhu Sheikh Mujib Shilpa Nagar’ at a hotel in the city.
On the occasion, BEZA and Bangladesh Garment Manufacturers and Exporters Association also inked land lease agreement for setting up a specialised garments park with 41 business entities.
Prime minister’s principal secretary Ahmed Kaikaus attended the function as the chief guest while executive chairman of BEZA Paban Chowdhury, senior secretary of the LGED division Helal Uddin Ahmed, land secretary Md Mostafizur Rahman, national board of revenue chairman Abu Hena Md Rahmatul Muneem, BGMEA president Rubana Hoq, Japanese ambassador to Bangladesh Naoki Ito and chief representative of JICA Bangladesh office Yuho Hayakawa, among others, spoke on the occasion.
In his speech, Ahmed Kaikaus said the initiative of JICA will play a vital role to increase Japanese investment in the country.
He said the business relation between BGMEA and BEZA will be strong through the initiative.
Paban Chowdhury said if BGMEA will implement the initiative quickly, it will lower the pressure of population on Dhaka and Chattogram cities.
The initiative will increase the export of Bangladeshi apparel products, he added.
The ocean front economic zone development project has been proposed to JICA by Sojitz Corporation with an aim to develop or operate this economic zone in BSMSN.
The objective of the preparatory survey is to assess of this project and to propose a financially viable project design scheme under the concept of public private partnership.
The government of Bangladesh has adopted proactive policies to encourage rapid economic development through increase and diversification of industries, employment, production and export.
To support these policies, BEZA targeted that BSMSN will be developed as a comprehensive industrial city including social infrastructure on a contiguous 30,000 acres of land and create employment opportunities for 1.5 million people within the next 15 years and ensure US$40 billion export from this industrial enclave.
This preparatory study will contribute to the realization of this plan.
Under the umbrella of the BIG-B, Bay of Bengal Industrial Growth Belt, Initiative, agreed between prime minister Sheikh Hasina and prime minister Shinzo Abe in 2014, JICA has closely cooperated with BEZA in assisting the development of Bangladesh special EZ at Araihazar and the regional development in Moheshkhali-Matarbari area.
This Project at Bangabandhu Sheikh Mujib Shilpanagar will uplift and move the BIG-B Initiative to the new frontier.
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