10 more economic zones get the nod

Bangladesh Economic Zones Authority (Beza) has approved setting up 10 more economic zones, taking the tally of such areas to 101, out of which work on 28 are currently underway.


The approval came at a virtual meeting of the Beza Governing Board yesterday with its chairperson, Prime Minister Sheikh Hasina, in the chair through videoconferencing from her Gono Bhaban residence.


Beza officials said now they would conduct feasibility studies and start acquiring necessary land for setting up the zones.


Prime Minister Sheikh Hasina asked Beza to promote small entrepreneurs, particularly the young generation, alongside attracting foreign investment, reports the UNB.


"It (Beza) will have to work in a way so that foreign investment comes on one hand and local people can invest on the other, or we can promote small investors. That means we need to attract and promote our young generation."


Hasina said the government was setting up special economic zones across the country to attract investment, create jobs and protect arable and forest lands.


The prime minister said if 100 economic zones could be established as per the target of the government, poverty would be alleviated in the country, production and export income would increase and the foundation of the country's economy would be strengthened.


The meeting also decided to provide export subsidy or cash incentive at the same rate as non-economic zone companies to all categories of agro-processing industries established in economic zones focusing export.


The prime minister directed all agencies concerned to take immediate steps to formulate a comprehensive strategy and future action plan to attract investors to Bangladesh as part of the trend of global relocations in the wake of the Covid-19 pandemic.