Cumilla Economic Zone gets final govt nod
Highlights
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12th private economic zone in the country
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Situated near the Dhaka-Chattagram highway
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Expected to go into production by 2023
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Will create 50,000 jobs in 60 industrial factories
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The Cumilla Economic Zone (CEZ), a concern of the Meghna Group of Industries, has received the final approval from the government becoming the 12th private sector economic zone of Bangladesh.
The Bangladesh Economic Zones Authority (BEZA) on Sunday awarded the final licence to the Meghna Group, a leading business conglomerate in the country, to build the economic zone in Cumilla.
The Cumilla Economic Zone is expected to go into production within 2023, with land prepared for factory construction.
Many local and foreign companies have already expressed an interest in setting up factories at the industrial hub.
Situated on the bank of a tributary of the Meghna River near the Dhaka-Chattagram highway, the under-construction private economic zone is the first of its kind in the fast-growing Cumilla district.
Chief guest Prime Minister's Office Secretary Md Tofazzal Hossain Miah on the occasion said the economic zone would create employment and attract both foreign and domestic investments.
He, however, said that industries would need skilled workers and it was the responsibility of businessmen to ensure their presence.
"Besides having a conducive investment environment, BEZA's modern, fast and standard services have enhanced the scope for investments. BEZA has contributed in upholding the country's economic status despite the strains posed by the pandemic," the secretary added.
Shaikh Yusuf Harun, executive chairman of the BEZA, said that there were 36 industrial establishments in the 11 private economic zones, having investments of $3 billion and employing 35,000 people.
Special guest, Mostafa Kamal, chairman of Meghna Group of Industries, said the Cumilla Economic Zone could result in 60 more industrial factories, creating 50,000 jobs.
He requested uninterrupted supply of gas and electricity at the economic zones, saying the government was trying but if those were ensured quickly, then more investments would come.
Mostafa Kamal said that he was keen on attracting investors from around the world.
Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of the Bangladesh Export Processing Zones Authority (BEPZA), also spoke on the occasion.
According to the plans for the new economic zone, factories, administrative buildings, warehouses, logistics, water and waste treatment plants, roads and other necessary facilities will be constructed to make it self-sufficient.
There will also be greenery, healthcare and training centres. Eco-friendly technology will also be used to ensure the environment isn't harmed.
