PM Hasina opens 50 industrial units in economic zones

[Homo Sapiens]

PM Hasina opens 50 industrial units in economic zones​

Sheikh Hasina inaugurated the industrial establishments to mark the golden jubilee of independence and the birth centenary of Bangabandhu

Prime Minister Sheikh Hasina addresses an event in person at the Bangladesh Civil Service Administration Academy on Wednesday, November 2, 2022 Focus Bangla

BSS
November 20, 2022 11:51 AM

Prime Minister Sheikh Hasina on Sunday inaugurated 50 industrial units, projects and facilities in economic zones (EZs) across Bangladesh.
She opened the industrial establishments in the EZs virtually from her official Ganabhaban residence to mark the golden jubilee of the country's independence and the birth centenary of Bangabandhu Sheikh Mujibur Rahman.
Four factories at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chittagong and eight in different private EZs were launched among the 50 industrial facilities.

These industrial units have already invested over $967.73 million in the economic zones and will make further investments of nearly $331.27 million.
The prime minister laid the foundation stone of 29 industrial units in different EZs, which have so far invested $610 million and are in the process to invest $1,922.39 million more.
Administration buildings of BSMSN, Jamalpur Economic Zone, Srihatta EZ, and Sabrang Tourism Park were inaugurated as well.

The prime minister also formally opened the 20-kilometre Sheikh Hasina Sarani, 230KVA gridline and substation at BSMSN, and laid the foundation stone of a water treatment plant with 50 million litres per day capacity.

Land Minister Saifuzzaman Chowdhury, PM's Private Industry and Investment Adviser Salman Fazlur Rahman, Chittagong-1 lawmaker Eng Mosharraf Hossain and Vice Chairman of Bashundhara Group Safwan Sobhan spoke at the function at the BSMSN end in Chittagong.
Bangladesh Economic Zones Authority (BEZA) Executive Chairman Shaikh Yusuf Harun gave the welcome address.

A video documentary on the development activities of BEZA was screened at the function.
BEZA aims to establish economic zones in all potential areas in Bangladesh, including backward and underdeveloped regions, with a view to encouraging rapid economic development through the increase and diversification of industry, employment, production and export.

Of the 100 planned economic zones, the government has approved 97 — 28 of which are currently under development.
So far 12 privately owned economic zones have received licences to operate and nearly $4 billion have been invested in these economic zones.
The goal of the economic zones is to create employment for 10 million people directly and indirectly. It is also expected to produce and export products worth $40 billion annually from these economic zones.

Investors can avail of tax holidays as well as duty-free imports of raw materials and machinery at the economic zones.
The economic zones have attracted foreign direct investments from different countries, including Japan, China, India, Australia, the Netherlands, Germany, America, the United Kingdom, Singapore, South Korea and Norway.

PM Hasina opens 50 industrial units in economic zones

Sheikh Hasina inaugurated the industrial establishments to mark the golden jubilee of independence and the birth centenary of Bangabandhu

www.dhakatribune.com

 

[Bilal9]

PM Hasina opens 50 industrial units in economic zones​

Sheikh Hasina inaugurated the industrial establishments to mark the golden jubilee of independence and the birth centenary of Bangabandhu

Prime Minister Sheikh Hasina addresses an event in person at the Bangladesh Civil Service Administration Academy on Wednesday, November 2, 2022 Focus Bangla

BSS
November 20, 2022 11:51 AM

Prime Minister Sheikh Hasina on Sunday inaugurated 50 industrial units, projects and facilities in economic zones (EZs) across Bangladesh.
She opened the industrial establishments in the EZs virtually from her official Ganabhaban residence to mark the golden jubilee of the country's independence and the birth centenary of Bangabandhu Sheikh Mujibur Rahman.
Four factories at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chittagong and eight in different private EZs were launched among the 50 industrial facilities.

These industrial units have already invested over $967.73 million in the economic zones and will make further investments of nearly $331.27 million.
The prime minister laid the foundation stone of 29 industrial units in different EZs, which have so far invested $610 million and are in the process to invest $1,922.39 million more.
Administration buildings of BSMSN, Jamalpur Economic Zone, Srihatta EZ, and Sabrang Tourism Park were inaugurated as well.

The prime minister also formally opened the 20-kilometre Sheikh Hasina Sarani, 230KVA gridline and substation at BSMSN, and laid the foundation stone of a water treatment plant with 50 million litres per day capacity.

Land Minister Saifuzzaman Chowdhury, PM's Private Industry and Investment Adviser Salman Fazlur Rahman, Chittagong-1 lawmaker Eng Mosharraf Hossain and Vice Chairman of Bashundhara Group Safwan Sobhan spoke at the function at the BSMSN end in Chittagong.
Bangladesh Economic Zones Authority (BEZA) Executive Chairman Shaikh Yusuf Harun gave the welcome address.

A video documentary on the development activities of BEZA was screened at the function.
BEZA aims to establish economic zones in all potential areas in Bangladesh, including backward and underdeveloped regions, with a view to encouraging rapid economic development through the increase and diversification of industry, employment, production and export.

Of the 100 planned economic zones, the government has approved 97 — 28 of which are currently under development.
So far 12 privately owned economic zones have received licences to operate and nearly $4 billion have been invested in these economic zones.
The goal of the economic zones is to create employment for 10 million people directly and indirectly. It is also expected to produce and export products worth $40 billion annually from these economic zones.

Investors can avail of tax holidays as well as duty-free imports of raw materials and machinery at the economic zones.
The economic zones have attracted foreign direct investments from different countries, including Japan, China, India, Australia, the Netherlands, Germany, America, the United Kingdom, Singapore, South Korea and Norway.

PM Hasina opens 50 industrial units in economic zones

Sheikh Hasina inaugurated the industrial establishments to mark the golden jubilee of independence and the birth centenary of Bangabandhu

www.dhakatribune.com

Initially I took the bait of this AL propaganda - then realized this was rather hollow because of several reasons. Economic Zones with utilities do not develop a country, you need investors invest and to provide jobs to working populace.

My doubts are because of these facts,

1. You need not only foreign investors (tougher to get them to invest) - you also need local investors. Local investors far outnumber foreign investors in Bangladesh.

2. Local investors will need protective tariff support against Indian products to serve the local market, before they can stand on their unstable wobbly feet, to be able to export.

3. With a de-facto Indian (fake Bangladeshi) Tipu Munshi heading up the commerce ministry, only Indian goods will be consumed in Bangladesh, local investors will not get the tariff protection support (against India) they need.