PM formally opens works on Mirsarai Economic Zone

[EastBengalPro]

Dhaka, Jan 24 (UNB) – Prime Minister Sheikh Hasina on Wednesday formally opened the works on BEPZA Economic Zone at Mirsarai in Chittagong by unveiling its foundation plague.

The Prime Minister inaugurated the works on the economic zone on 1,150 acres of land through a videoconference from the inaugural ceremony of BEPZA International Investors' Summit 2018 at Bangabandhu International Conference Centre in the capital.

Sheikh Hasina stressed the need for protecting farmland and urged all not to set up industries indiscriminately.

“We’ve to protect our farmland and make sure that industries are not set up indiscriminately . This also harms the environment,” she said.

Housing and Public Works Minister Engineer Mosharraf Hossain and Deputy Commissioner of Chittagong Zillur Rahman Chowdhury also spoke on the occasion.

Zillur Rahman said the country’s biggest economic zone is going to be set up at Mirsarai in Chittagong. The economic zone will create some 5 lakh jobs and can attract some US$ 5,400 million investment from local and international investors, he said.

The BEPZA Economic Zone will be implemented within the next two years, he hoped.

http://unb.com.bd/bangladesh-news/PM-formally-opens-works-on-Mirsarai-Economic-Zone/61289

 

[bête noire]

Great work but I feel like northern and western side are neglected. Chittagong and Dhaka has always been the main two cities and it still continues to be while no-one really cares about other cities or call them major city in any way. We should give job opportunities to northerners and westerners too, not just people of Chittagong and Dhaka. This also creates the problem of migration to these two already overpopulated cities. What are those people supposed to do anyway, if the government doesn't give any attention to their cities? They will obviously go to places the government do care.

 

[Homo Sapiens]

Great work but I feel like northern and western side are neglected. Chittagong and Dhaka has always been the main two cities and it still continues to be while no-one really cares about other cities or call them major city in any way. We should give job opportunities to northerners and westerners too, not just people of Chittagong and Dhaka. This also creates the problem of migration to these two already overpopulated cities. What are those people supposed to do anyway, if the government doesn't give any attention to their cities? They will obviously go to places the government do care.

North Bengal(Rajshahi and Rangpur division) has geographic disadvantage for setting up manufacturing industries and power plants for being distant region from the coast.Add to this the fact that, North Bengal are separated from rest of the country by two huge rivers(Padma and Jamuna). Only Jamuna bridge is connecting that areas to the rest of the country as well as the main sea port in Chittagong and Mongla.Foreign as well as local investors want a location close to the seaport to set up their industry so that they can export their product with little distance and costs.Same is true for import.Consider this, we have to import LNG and coal to run our big, under-construction power plants.Which one would be more economical and logistically feasible? Building power plant near the port and then transfer electricity through national grid to North Bengal or transferring all those millions of tons LNG and coal to a distance of 500 km in North Bengal power plant? Obviously the former. That's why most of our under construction power plant concentrated in Matarbari, Cox's Bazar and Pyra sea port.Same is true for many other industry or infrastructure.There is a reason of why east coast of China is disproportionately industrialized and developed then rest of China.Same thing is also happening in Bangladesh.For our case, it is the Cox's Bazar-Chittagong-Comilla-Dhaka corridor and to some extent Pyra, Patuakhali.

Map:North Bengal

But North Bengal has other advantage.It is the main agricultural region of Bangladesh supplying surplus agricultural products to the rest of the country.If you study agricultural statistics of Bangladesh, it reveals that, North Bengal(Rajshahi+Rangpur division), produce around 40 percent of agricultural output in Bangladesh while they have only 23 percent share of population.So there is a huge surplus of agri product which is being supplied to mainly in Dhaka, Comilla and Chittagong region.So it would be a better idea to set up agri and food industry there and supply rest of the country as well as export overseas.

 

[bluesky]

The economic zone will create some 5 lakh jobs and can attract some US$ 5,400 million investment from local and international investors

Bold part: It means that each million dollar investment will create a new 100 jobs. It is a good economic supposition.

 

[TopCat]

Great work but I feel like northern and western side are neglected. Chittagong and Dhaka has always been the main two cities and it still continues to be while no-one really cares about other cities or call them major city in any way. We should give job opportunities to northerners and westerners too, not just people of Chittagong and Dhaka. This also creates the problem of migration to these two already overpopulated cities. What are those people supposed to do anyway, if the government doesn't give any attention to their cities? They will obviously go to places the government do care.

SEZ is being eshtablished all over the country. But at the end of the it is the people have improve their own livelihood.

 

[bluesky]

As far as I understand, an EPZ infrastructure is being built in Iswardy in the north-east zone to attract Indian investment there. Can someone tell us what is the progress? We have to understand that the govt. cannot really force the private investor to build factories in certain areas. The companies themselves choose the location. And, as we still depend upon export-oriented factories, therefore the companies will definitely prefer places near the ports with easy access from the factory sites.

Rajshahi and Rangpur areas are actually not too far from the Mongla or Paira Ports. But, road transport facilities are not enough although there is a road bridge over the Padma near Pakshi. Thing is unless the port areas are saturated and wider roads are built, there will be little incentives for an entrepreneur to set up workshop in the north-east. So, we will have to wait for a few years/decades to happen that way.

 

[mb444]

For even spread of economic growth BD needs to exploit natural advantages of each region.

As others have said export orientated manufacturing hubs are unlikely to crop up areas far from logistics centres.

However GOB can do many things such as move government Departmental HQ away from Dhaka and into proveniences to inject economic stimulus in those regions.

Alternative strategies would be to offer special incentives and tax breaks as compensation to investors To encourage them to take a risk and be trailblazers into parts of country that has been ignored to date.