Govt plans to transform Matarbari-Maheshkhali into world-class commercial hub
Chief adviser stresses building blue economy as Mida presents 30-year project detail
Highlights
- Deep-sea port, power hub to be established in five years
- Subsequent 15 years to focus on creating complete ecosystem
- $150 billion expected to be added to country's GDP
- $60-65 billion investment likely over 20-30 years
- 2.5 million jobs expected to be created by 2055
The government has a 30-year plan to transform the Matarbari-Maheshkhali region into a world-class commercial hub, according to Chowdhury Ashik Mahmud Bin Harun, chairman of the Maheshkhali Integrated Development Authority (Mida).
Speaking at a press conference at the Foreign Service Academy in the capital today, he said, "If the plan is successfully implemented, the commercial hub, comparable to Shanghai or Singapore ports, could create up to 2.5 million jobs, both direct and indirect, by 2055."
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Earlier, Ashik presented the Maheshkhali-Matarbari project to Chief Adviser Muhammad Yunus during a meeting at the latter's residence, the State Guest House Jamuna.
A press release from the Chief Adviser's Press Wing stated that Yunus stressed the need to establish a blue economy in the region.
"We must work with a vision to build a blue economy, not just a deep-sea port," the chief adviser was quoted as saying. "That area will not just be a facilitating zone; a new city will be born there, which will give us international connectivity. The sea will be our highway to the world."
The Mida chairman outlined the immediate plan, saying the authorities have a 120-day work schedule to complete administrative activities and create a master plan. "The master plan will incorporate the best practices of the Singapore and Shanghai ports. The project, spanning 33,000 acres, will be implemented in three phases: 2025-2030, 2030-2045, and 2045-2055."
Ashik said Mida currently has only three members, including him, with a search underway for a new member and an experienced Bangladeshi expatriate to lead the new city's development.
Over the next five years, the project aims to launch a deep-sea port, establish rail and road links, and build a power hub, he said. The subsequent 15 years will focus on creating a complete ecosystem to attract local and foreign investment, he added.
Ashik noted that the earlier Big-B plan, adopted in 2014, was narrow in scope, focusing mainly on power generation and the deep-sea port. Although Japan's Jica pledged support in 2018, the lack of coordination between ministries slowed progress. Mida was subsequently formed to ensure more effective implementation.
The Mida chairman added that the project would not only create a commercial hub but also a new township, projecting a new "Singapore or Shanghai" in Bangladesh. "It is expected to add $150 billion to the country's GDP, attract $60-65 billion in investment over the next 20-30 years, including $5 billion in foreign investment, reduce imports by $16-18 billion, and save $4-6 billion in logistics costs."
Ashik said future power generation in the area will shift away from coal, focusing instead on gas or nuclear power. He added that the deep-sea port would allow large vessels to come directly to Bangladesh, eliminating the need to use Singapore or Colombo as transit hubs and saving significant time and money.
The plan also includes establishing a free trade zone, as well as fisheries processing, shipbuilding, and ship repair hubs to support widespread industrialisation, Ashik said.
During the meeting, the chief adviser stressed the importance of research and academia in building a blue economy, calling for international conferences, institutions, and studies tailored to Bangladesh. He also highlighted environmental conservation, including the protection of forests, and discussed plans for eco-tourism parks in the area.
