Bangladesh plans 100 economic zones in 15 years

Bangladeshi Finance Minister AMA Muhith Thursday said that as many as 100 economic zones will be established across the country in the next 15 years.

"We have taken initiatives to establish economic zones in prospective regions with a view to encouraging industrialization, generating employment opportunities, enhancing production and ensuring export promotion and diversification," Muhith said in his budget speech on Thursday.

Muhith unveiled a record three-trillion-taka (about 37.83 billion U.S. dollars) proposed national budget targeting an economic growth of 7 percent for the next 2015-16 fiscal year starting in July.

He said big investment initiatives such as those found in Japan, South Korea, China and India cannot be realized due to scarcity of land.

In order to change this scenario, approval has been accorded to the establishment of 30 public and private economic zones in different parts of the country, he added.

"Let me mention here that two economic zones have been earmarked for Japanese and Chinese investors. We are actively considering keeping another such zone earmarked for India."

Besides, he said six economic zones are going to be established in the private sector.

In order to facilitate the establishment of economic zones, the government will take necessary steps to provide land, gas, electricity and communication infrastructure facilities.

"I would like to inform you all that as many as 100 economic zones will be established across the country in the next 15 years. That will increase export earnings by 40 billion U.S. dollars and generate about 10 million additional employments," he said. Endi