Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun on Sunday said they want to make Bangladesh a “regional production powerhouse” and stressed that port connectivity is a must to make that happen.

“Look, the vision that we want to set is that we want to make Bangladesh a regional production powerhouse. To make that happen, port connectivity is a must,” he said, adding that they have a target to address the Bay Terminal issue by September and October, marking a significant milestone on the connectivity front.

The BIDA Executive Chairman laid emphasis on making all the airports more efficient which will have a good outcome on the overall economy of the country.

Briefing reporters at the Foreign Service Academy, Ashik said the government has cancelled the licenses of 10 economic zones -- five government and five private economic zones.

“I have already said earlier that there is no need for 100 economic zones. Today, the licenses of 10 economic zones have been canceled. We think that these are not needed," he said.

No more bureaucratic hassles for foreign investment: BIDA

The decision was taken at the BIDA governing body meeting chaired by Chief Adviser Prof Muhammad Yunus.

The cancelled government economic zones are Sonadia Eco Tourism Park in Cox's Bazar, Sundarbans Tourism Park in Bagerhat, Gajaria Economic Zone in Munshiganj, Shreepur Economic Zone in Gazipur and Mymensingh Economic Zone in Mymensingh.

On the other hand, cancelled private economic zones are Garments Industries Park proposed by BGMEA in Munshiganj, Chatak Economic Zone in Sunamganj, Famkam Economic Zone in Bagerhat, City Special Economic Zone in Dhaka and Sonargaon Economic Zone and Narayanganj.

Chief Adviser’s Press Secretary Shafiqul Alam, Deputy Press Secretary Abul Kalam Azad Majumder and head of business development at BIDA Nahiyan Rahman Rochi were also present.