The progress of setting up Special Economic Zones (SEZ) has slowed down due to complexities in land acquisition and development activities due to the impact of Covid-19. The Bangladesh Economic Zones Authority (BEZA) was established by law in 2010, with the aim to establish 100 economic zones by 2030 across the country. Special focus would be given to backward and underdeveloped regions to encourage rapid economic development through diversification of industry, employment, production and export’. The Foreign Investors Chamber of Commerce and Industry (FICCI) in a survey report recently expressed their concern over the slow pace of SEZs project implementation. Read: NBR slaps additional duty on 135 luxury items to discourage import  The organization represents investors from a total of 35 countries. About 90 percent of the total foreign direct investment (FDI) in the country comes from FICCI members. The companies have investments in banking, non-bank financial institutions, cement, ceramics, chemicals, construction, housing, consulting, fast-moving consumer goods, gas-electricity, leather and leather goods, clothing and transportation. According to the FICCI, the government has so far approved 97 zones, comprising 68 public and 29 private economic zones.

The special economic zones are changing the industrial landscape of Bangladesh, Bangladesh Economic Zones Authority (BEZA) Executive Chairman Paban Chowdhury has said. He said they are building  a separate SME zone at Bangabandhu Shilpanagar in Mirsarai to raise the contribution of the SMEs to the GDP. Paban Chowdhury was addressing as the chief guest at a webinar titled ‘Enabling Investment Climate to Realize Great Potential’ held recently. Citi, in partnership with Chittagong Chamber of Commerce and Industry (CCCI)  Bangladesh Center of Excellence (BCE), organised the webinar. The discussion focused on the diversification of investment, readiness of economic zones to facilitate such diversification of investments, and potential sectors for investment. The session was chaired by CCCI President Mahbubul Alam and moderated by N. Rajashekaran (Shekar), Citi Country Officer and Managing Director, Citibank, N.A. Bangladesh, said a media release on Monday. Also read: Bangladesh to see more economic zones: Salman Rahman Ahsan Khan Chowdhury, Chairman & CEO, Pran-RFL Group, Aameir Alihussain, Managing Director, BSRM Group of Companies and Miran Ali, Managing Director, Bitopi Group were among the distinguished panelists at the virtual discussion.

Bangladesh Economic Zones Authority (Beza) on Monday signed agreements with four companies, including two Chinese ones to invest in Bangabandhu Sheikh Mujib Shilpa Nagar.

Singapore-based Inter-Asia Group Pte Ltd will develop the Sabrang Tourism Park in Cox’s Bazar.

Sustainable and Renewable Energy Development Authority (Sreda) has tied up with Bangladesh Economic Zones Authority(BEZA) to promote renewable energy and energy efficiency at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) and all other economic zones across the country.

Bangladesh Economic Zones Authority (BEZA) is scheduled to sign a land lease agreement with Yabang Group of China on Tuesday.

PowerPac Economic Zone Private Limited signed a Land Lease Agreement (LLA) with Bashundhara Industrial Complex Limited (BICL) to provide 30 acres of land for a bag manufacturing plant at Mongla economic zone.