PM to Inaugurate 50 Industrial Units in EZs Sunday

Prime Minister Sheikh Hasina will inaugurate 50 industrial units, projects and facilities in economic zones (EZs) on Sunday, marking 50 years of independence.

Talking to BSS, Bangladesh Economic Zones Authority (BEZA) Executive Chairman Shaikh Yusuf Harun said the prime minister will virtually inaugurate 50 industrial units, projects and facilities in the EZs across the country and BEZA will have the event at eight venues.

"These include commercial operations of four factories at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram and eight factories in different privately-run EZs," he added.

He said these industrial units have already invested over $967.73 million and will make further investments of nearly $331.27 million.

He informed that the prime minister will also lay the foundation stone of 29 industrial units in different EZs, which have so far invested $610 million and are in the process to invest $1,922.39 million more.

The EZ facilities, to be inaugurated, include administration buildings of BSMSN, Jamalpur Economic Zone, Srihatta EZ, and Sabrang Tourism Park, he added.

Besides, the BEZA chief said, the prime minister will also formally open the 20km Sheikh Hasina Sarani, 230-KVA gridline and substation at the BSMSN.

She will also lay the foundation stone of a water treatment plant having 50 million litres per day (MLD) capacity, he added.

Of the industrial plants, which will be inaugurated, four establishments are at the Bangabandhu Shilpa Nagar.

McDonald Steel Industries Ltd, one of these, produces prefabricated structural steel, used in steel bridges and steel high-rises, factories and power plants.

Nippon and McDonald Steel Industries Limited produces MS Plate manufacturing from imported steel, purlin, slitting sheets and coil.

Asian Paints Bangladesh Limited, which produces paints and allied products, emulsions, has invested $34 million in the economic zone.

Samuda Construction Limited, the manufacturer of PHC pile, is constructing its factory on four acres of land with an investment of $8.2 million.

BEZA aims to establish economic zones in all potential areas in Bangladesh, including backward and underdeveloped regions, with a view to encouraging rapid economic development through the increase and diversification of industry, employment, production and export.

Of the planned 100 economic zones, the government has approved 97 economic zones, 28 of which are currently under development.

So far, 12 privately owned economic zones have received licences to operate and nearly $4 billion have been invested in these economic zones.

The goal is to create employment for 10 million people directly and indirectly. It is also expected to produce and export products worth $40 billion annually in these economic zones.

Investors can avail of tax holidays and duty-free imports of raw materials and machinery at the economic zones.

The economic zones have attracted foreign direct investments from different countries, including Japan, China, India, Australia, the Netherlands, Germany, the USA, the UK, Singapore, South Korea and Norway.

Earlier, the inauguration schedule was fixed on October 26. But, the scheduled inauguration of the operations of the industrial units as well as laying foundation stones of various infrastructures at the economic zones was postponed due to inclement weather deriving from Cyclone Sitrang.