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15 October, 2019 10:56:02 AM

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Mongla Economic Zone opens up new possibilities

More countries keen to set up EZs in Bangladesh: Salman F Rahman
STAFF REPORTER, Dhaka
Mongla Economic Zone opens up new possibilities
Prime Minister’s Private Industry and Investment Adviser Salman F Rahman (centre) poses for a photograph along with others at a hotel in the capital yesterday. independent photo

More foreign countries are keen to set up exclusive economic zones in Bangladesh, said Salman F Rahman, private industry and investment adviser to Prime Minister Sheikh Hasina, yesterday.

“After China, Japan and India, other countries, including the United Arab Emirates (UAE) and South Korea, are showing interest in setting up economic zones to invest in Bangladesh,” he noted.

Rahman said this while unveiling the prospectus of the Power Pac Economic Zone (Pvt) Ltd (PPEZL) at an ‘Investment Promotion’ function at a hotel in the capital.

Power Pac Economic Zone (Pvt) Ltd, a unit of the local conglomerate Sikder Group, has set up the country’s first private economic zone in Mongla on 205 acres of land near the Mongla Port. The area is located within one km of the Mongla port and 20 km of Hazrat Khanzahan Ali Airport in Bagerhat.

Addressing the programme as chief guest, Rahman said owing to the strategic location of the zone and the upcoming Padma Bridge, the demand for the Mongla Economic Zone and the Mongla Port would increase significantly in the near future.

He thanked the Sikder Group for their initiative to develop and operate the first-ever economic zone on a 'Design, Build, Finance, Own, Operate and Transfer' (DBFOOT) basis in Bangladesh.

Speaking at the prgramme as a special guest, Abul Kalam Azad, principal SDG coordinator of the Prime Minister's Office, said the Mongla economic zone would play a vital role to achieve the sustainable development goals (SDG) of the Bangladesh government. He also said that a combination of the Mongla Port and the Mongla economic zone would benefit exporters and importers.

“The Mongla Economic Zone has been declared a green economic zone. So, we expect the industries to be built there would be green as well,” he added.

Paban Chowdhury, executive chairman of the Bangladesh Economic Zone Authority (BEZA), said the Sikder Group was striving to fulfill the goal of the Prime Minister’s Vision 2021 and 2041 through this Mongla Economic Zone and their other numerous projects.   

BEZA executive member Mohammed Ayub also spoke on the potential of the Mongla Economic Zone and urged investors to invest there. The total area of the Mongla Economic Zone is 205 acres. Six companies have already received land and office space, said Ayub.

Among the six companies, Unilever Bangladesh Ltd received 11 acres of land, PowerPac Petroleum Ltd eight acres, PowerPac Mutiara Khulna Ltd eight acres, PowerPac Steel Mills Ltd two acres, National Bank Ltd 2,000 sq ft, and Sikder Insurance Company Ltd received 1,000 sq ft of land.

Mohammad Salahuddin, event project director of PowerPac Economic Zone Private Ltd, said 44 per cent of the land of the processing zone had already been allocated for various industries. The remaining land is still available to unit investors along with attractive incentives and facilities, he added.

The Mongla Economic Zone will host all facilities such as a state-of-the art secured entrance plaza, inland container depot, administrative building, lorry parking, mosque, staff quarters and dormitory, electrical sub-station, hotel for investors, modern and highly equipped fire station, power plant and steel mills, said Salahuddin.

It was expected that around 25,000 jobs would be generated through this economic zone, he added.

The Mongla Economic Zone is the country’s first economic zone built on a public-private Partnership (PPP) basis.

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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