Bepza signs development agreement with Beza to establish economic zone at BSMSN

Bangladesh Export Processing Zones Authority (Bepza) has recently signed a development agreement with Bangladesh Economic Zone Authority (Beza) to set up a 'Bepza Economic Zone' at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN).

The signing ceremony was held at a hotel in the capital on Sunday, where Dr Ahmad Kaikaus, principal secretary to Prime Minister Sheikh Hasina was present as the chief guest, reads a press release.

Helaluddin Ahmed, senior secretary, Local Government Department, Md Tofazzal Hossain Mia, secretary to the Prime Minister's Office, and Major General Md Nazrul Islam, executive chairman, Bepza were present as special guests.

Beza Executive Chairman Paban Chowdhury presided over the function.

Paban Chowdhury and Major Gen Md Nazrul Islam signed the development agreement on behalf of their respective organisations.

"Bepza has already shown efficiency in attracting investment and increasing exports through diversification of products, creating new jobs. I believe that BEPZA will also be successful in managing economic zones like the EPZs," Major Islam said on the occasion.

Meanwhile, Paban Chowdhury said, "Beza has set another milestone by signing the agreement between Beja and Bepza to establish an economic zone. Through this, we have gone one step further in implementing the Vision 2041 of the Prime Minister and building an industrialized, prosperous and happy 'Golden Bengal'."

He added that Bangladesh has been able to attract foreign investment even during the Covid-19 pandemic. Last year alone, Beza received $6 billion in investment offers. He also expressed hope that a number of factories located in the Beja economic zones would soon go into full swing.

BSMSN is being established on about 30,000 acres of land in Sitakunda and Mirsarai Upazilas of Chattogram and Sonagazi Upazila of Feni.

The industrial city has already confirmed an investment of $23 billion. Foreign investors there include Nippon of Japan, Asian Paints of India, Berger Paints of the United Kingdom, Wilmar of Singapore and many more.

At present 13 industries are under construction in this industrial city and 15 more companies have started preliminary construction work. At least two factories are expected to go into production by July.