Free Trade Zone to be established on 400 acres in Ctg, AP Moller-Maersk to invest $800m: Bida Chairman

Bangladesh Investment Development Authority (Bida) Chairman Ashik Chowdhury said a Free Trade Zone (FTZ) will be established on 400 acres of land in Anwara upazila of Chattogram, describing it as a "game changer" for the country's economy.

Speaking to journalists after visiting a potential site for the FTZ today (8 May) morning, Chowdhury said, "A free zone is almost like an overseas territory. Foreign companies can set up factories here and take their products abroad. They will be free from all the red tape in Bangladesh. They will utilise the labour force of Bangladesh. This zone will provide a win-win deal for both the investors and Bangladesh."

The Bida chief noted that the Anwara site is under primary consideration due to its proximity to both the port and airport, which makes it logistically strategic. "Now we are searching for suitable space for the free zone. Today we have visited a land in Anwara which is our primary consideration," he added.

Chowdhury also said a national committee has already been formed to create a roadmap for the FTZ. The committee is currently in talks with international FTZ operators and conducting feasibility assessments. "After the assessment, the committee will provide us with recommendations on where to establish the FTZ," he said.

Setting an ambitious timeline, the Bida chairman stated, "We want to have milestone progress of the FTZ by the end of this year. We want to finalise decisions like where to establish it, who will operate it, and the time frame to launch the zone."

Bay Terminal to create employment for 25,000 people

Ashik Chowdhury has said that the Bay Terminal of Chattogram Port will create employment for 25,000 people. "PSI Singapore and DP World will each invest over $1 billion to construct two separate terminals for the Bay Terminal. The investor for the third terminal will be chosen through a competitive tender process, where both local and international operators can participate. Construction is expected to be completed by 2030," he added.

He made the remarks while visiting the under-construction Bay Terminal project at around 10:30am this morning.

"Once completed, mother vessels with a draught of 13 meters will be able to berth at the Bay Terminal jetties, and the Chattogram Port Authority (CPA) will be able to handle 3.5 million TEUs of containers annually through this terminal alone," he said.

Ashik Chowdhury expressed hope that "the Bay Terminal will play a game-changing role in the economy of Bangladesh."

Ashik and the Chief Adviser's Press Secretary, Shafiqul Alam, are currently visiting different facilities in Chattogram and will hold a press conference at 4:30pm. 

Among others, Chittagong Port Authority Chairman Rear Admiral SM Moniruzzaman and the Chief Adviser's Deputy Press Secretary Mohammad Abul Kalam Azad Majumder are accompanying them.

AP Moller-Maersk likely to invest $800 million in Laldia container terminal

AP Moller-Maersk, a Danish shipping and logistics company, will likely invest $800 million in constructing the Laldia container terminal at Chattogram Port, Bangladesh Investment Development Authority (Bida) Chairman Ashik Chowdhury has said. 

"They need to invest roughly $800 million for this terminal, which will come as FDI. Bangladesh will not invest here," he told the media after visiting the Laldia terminal this morning (8 May).

"Our foreign direct investment (FDI) is not more than $700 million yearly. If $800 million comes for one project, it is crucial for our economy. It will increase our FDI significantly and will create huge employment opportunities. So we are tracking this project seriously from Bida," said Ashik, also the executive chairman of Bangladesh Economic Zones Authority (Beza).

He said, "To build Bangladesh as a manufacturing hub, we need to develop our ports; we need to engage the world's top port operators for this."

APM started work at Laldia in 2024 and was supposed to invest $300 to $400. However, Ashik said today that the investment will increase to $800 million.

APM Terminals, a subsidiary of AP Moller-Maersk, will develop the first BOT (build-operate-transfer) port project in Bangladesh under a public-private partnership (PPP) and on a government-to-government basis.

He also said a committee has been formed to build a free trade zone in Bangladesh, and they visited Chattogram's Anwara for a possible location.

Call for focus on local investors

Alongside foreign investors, business leaders have urged the government to pay greater attention to local investors. This call was made during a stakeholder meeting held this afternoon at the Radisson Blu Hotel in Chattogram, attended by entrepreneurs from the country's industrial and commercial sectors, politicians, and representatives of civil society.

Notable attendees included BIDA Chairman Ashik Chowdhury, Press Secretary Shafiqul Alam, and Chattogram Port Authority Chairman Rear Admiral SM Moniruzzaman.

Speaking at the event, Sufi Mohammad Mizanur Rahman, chairman of PHP Family, stated, "You are providing gas and electricity connections to foreign investors, but we, local investors, are not getting them. We want to build a modern steel factory in the Mirsarai Economic Zone with a $5 billion investment, but there's no gas, electricity, or water."

KDS Group Chairman Khalilur Rahman added, "I have invested Tk 900 crore in a textile factory but haven't received a gas connection. I went to several departments under the previous government, but got nothing. With the new government, we saw hope and approached four advisory offices—but still no gas. I urge the government to provide better service to local investors, too."

Mahbub Morshed Chowdhury, vice president of the Chattogram Metropolitan Chamber, and Habibur Rahman Khan Don, vice president of the Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), also stressed the need to focus on local investors.

BSRM Managing Director Amir Ali Hussain called for the decentralisation of authority. "Everything is Dhaka-centric. All services have to be obtained from there. This should be decentralised. Moreover, alongside infrastructure development, highway improvement is essential. Without better connectivity, the logistics sector will fall behind."

Shahjahan Chowdhury, Ameer of Jamaat-e-Islami Chattogram city unit, said, "If necessary, upgrade the technology at the New Mooring Terminal. Rather than upgrading existing infrastructure, let foreign investors develop new ports or terminals."