Most of 100 EZs, okayed during Hasina regime, are now grazing grounds for buffaloes: CA press secy
“Large sums of money were spent acquiring land for these zones, but investors are not coming, primarily due to the lack of port capacity,” he also said
Most of the 100 economic zones (EZs), approved during the tenure of ousted premier Sheikh Hasina, remain vacant, serving as buffalo grazing fields, Chief Adviser's Press Secretary Shafiqul Alam said today (25 May).
Speaking as the chief guest at a CMJF Talk event organised by the Capital Market Journalists Forum (CMJF) in the capital, he also said, "Large sums of money were spent acquiring land for these zones, but investors are not coming, primarily due to the lack of port capacity."
Alam stated that by the end of the interim government's tenure, foreign direct investment (FDI) will see significant growth, largely because of major reforms planned for Chittagong Port. "The government's goal is to allow major global companies to manage the port."
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He further explained that Bangladesh lacks the technology, experience, and expertise to take the port to the next level. Therefore, discussions are ongoing with major international companies, including Dubai's DP World, AP Moller Maersk, and the Port of Singapore Authority, to enhance the port's efficiency.
'Stock market has become a den of robbers'
Speaking about the country's stock market, the press secretary said Bangladesh's capital market has become a den of robbers where small investors have only been victims of fraud and lost their capital.=
Referring to the chief adviser's meeting about the capital market, Shafiqul said, "In that meeting, this type of discussion came up very strongly. Why cannot we actually take measures? The reason is that the entire share market has become a den of robbers. When one robber leaves the capital market, another robber comes in."
"The person you are bringing to reform the capital market is another robber. So, regarding reform in this area, Prof Yunus says that very strong and deep reforms need to be implemented here," he added.
"Those who will carry out this reform are far from these vested interest groups. They will come and do it. They will reform ruthlessly. Deep reforms of share markets happen all over the world. They go to good places. But in Bangladesh, it is seen that those who want to reform are actually another scheming group," said the press secretary.
Shafiqul said whoever took responsibility for capital market reforms in the past had served the interests of various vested groups. "A major issue is that historically, those who have carried out reforms in BSEC or Bangladesh's capital market have all looked toward vested group interests.
"One group serves one purpose; the opposing group comes and serves another purpose. As a result, it has been seen that the big players have always benefited."
"In general, those who are very small traders, who are savers — you could say those who buy shares in the stock market as savings — have not benefited most of the time; rather, they have been cheated. They have been victims of manipulation," he added.
The event was presided over by CMJF President Golam Samdani Bhuiyan and conducted by General Secretary Abu Ali.
