BEZA, JICA ink deal for preparatory survey of Ocean Front EZ in BSMSN

The Bangladesh Economic Zones Authority (BEZA) and the Japan International Cooperation Agency (JICA) Monday signed an agreement for “Preparatory Survey on Ocean Front Economic Zone Development in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN)” at a hotel in the city.

On the occasion, BEZA and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) also inked land lease agreement for setting up a specialized garments park with 41 business entities, reports BSS.

Prime minister’s principal secretary Ahmed Kaikaus attended the function as the chief guest while executive chairman of BEZA Paban Chowdhury,

In his speech, Ahmed Kaikaus said the initiative of JICA will play a vital role to increase Japanese investment in the country. He said the business relation between BGMEA and BEZA will be strong through the initiative.

The Ocean Front Economic Zone Development project has been proposed to JICA by Sojitz Corporation with an aim to develop or operate this economic zone in BSMSN.

The objective of the preparatory survey is to assess of this project and to propose a financially viable project design scheme under the concept of Public Private Partnership.

The Government of Bangladesh has adopted proactive policies to encourage rapid economic development through increase and diversification of industries, employment, production and export.

To support these policies, BEZA targeted that BSMSN will be developed as a comprehensive industrial city including social infrastructure on a contiguous 30,000 acres of land and create employment opportunities for 1.5 million people within the next 15 years and ensure US$40 billion export from this industrial enclave. This Preparatory Study will contribute to the realization of this plan.