Beza fast-tracks Chinese EZ development to attract major investments
The 783-acre Chinese Economic and Industrial Zone, located in Ctg, has been under development since 2016
The Bangladesh Economic Zones Authority (Beza) is accelerating the development of the Chinese Economic and Industrial Zone (CEIZ) in Bangladesh to attract major Chinese investments, as businesses seek alternative destinations due to the tariff policies imposed under former US President Donald Trump, according to Beza officials.
The 783-acre CEIZ, located in Anwara upazila of Chattogram, has been under development since 2016 as part of a government-to-government (G2G) agreement following Chinese President Xi Jinping's visit to Bangladesh, when the foundation stone was laid.
In 2022, China appointed the China Road and Bridge Corporation as the new developer for the CEIZ to speed up construction.
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After years of stagnation, work on the CEIZ has recently gained momentum, Beza officials also added.
200 Chinese cos targeted
Chowdhury Ashik Mahmud Bin Harun, executive chairman of the Bangladesh Investment Development Authority (Bida) and Beza, said, "During the chief adviser's upcoming visit to China, meetings may be held with nearly 200 Chinese companies. We aim to use this visit to encourage more Chinese investments in Bangladesh."
CA's Press Secretary Shafiqul Alam added that the first bilateral meeting between CA Yunus and Chinese President Xi Jinping will be held in Beijing on 28 March.
Project back on track
Speaking about the project's progress, Harun said, "The CEIZ project was delayed for various reasons, but we are working to resolve the issues. Significant progress has been made in the past month, and we expect to announce an agreement in the coming months."
He added that several Chinese companies are already lined up to establish factories in the economic zone.
Growing Chinese interest in Bangladesh
The Bangladesh Investment Summit-2025 is scheduled to be held from 7-10 April.
At a press conference on Monday, Harun highlighted that the increased tariffs on Chinese products under the Trump administration have prompted many Chinese firms to explore Bangladesh as a manufacturing hub.
"When we speak with the Chinese business community, they say that new companies are showing interest in establishing factories in Bangladesh every day," Harun noted.
In recent years, China has emerged as Bangladesh's largest investor. Chinese companies are particularly interested in the renewable energy sector, as well as advanced textiles and garment manufacturing.
According to data from the Bangladesh Export Processing Zones Authority (Bepza) from three months ago, Chinese firms have invested $1.6 billion in 107 industrial units across EPZs and Bepza Economic Zones, creating employment for 1.33 lakh Bangladeshis.
