Govt fast-tracks Tk4,056cr economic zone in Ctg to attract Chinese investors
Of this, $221.18 million (around Tk2,136 crore) is expected to come as Preferential Buyer’s Credit from the Chinese government
To attract Chinese investment, the government has undertaken a fast-track project to develop an 800-acre Chinese Economic Zone in Anwara, Chattogram, at an estimated cost of Tk4,056 crore, according to officials from the Bangladesh Economic Zone Authority (Beza).
Of this, $221.18 million (around Tk2,136 crore) is expected to come as Preferential Buyer's Credit from the Chinese government.
For the remaining Tk1,920 crore, Beza has sought the finance ministry's approval for government funds at 1% interest.
Keep updated, follow The Business Standard's Google news channel
Beza Executive Chairman Chowdhury Ashik Mahmud Bin Harun told TBS, "We are doing everything we can to fast-track the development of the Chinese Economic Zone. We are expediting approvals from relevant government offices and aiming to start construction soon.
"Once that begins, many of the Chinese investors' concerns will be addressed, and their interest will increase."
The project proposal titled "Supporting Infrastructure Project for Chinese Economic and Industrial Zone (CIEZ)" has already been approved by the Chief Adviser's Office.
Subject to finance ministry approval and clearance from relevant government bodies and the Executive Committee of the National Economic Council (Ecnec), construction is expected to begin in July.
The project includes building a jetty, a connecting road to the CIEZ, a central effluent treatment plant, and other necessary infrastructure.
The project will be implemented on a G2G basis by China Road and Bridge Corporation, representing the Chinese government, and is scheduled for completion by June 2029.
Additionally, Beza has approved the establishment of another economic zone in Chandpur on a G2G basis for Chinese investors, and a separate zone in Bhola for a Chinese company.
According to the development project proposal for the Chinese Economic Zone in Anwara, the project aims to leverage nearby infrastructure – including the Karnaphuli River Tunnel, seaport, and airport – to position the CIEZ as a major industrial cluster and a key economic platform supporting Bangladesh's industrialisation.
The document further notes that Chinese stakeholders believe establishing economic zones will boost Chinese investment, facilitate technological advancement across various Bangladeshi industries, and drive overall economic growth. These zones are also seen as key enablers of industrial clustering and cross-border trade within the broader Pacific-to-Indian Ocean framework.
According to the Bangladesh Bank, as of September 2024, Chinese investment in Bangladesh has reached $2.67 billion – $1.41 billion from mainland China and $1.26 billion from Hong Kong.
