Views Bangladesh Logo

Beza clears way for developing 4th Meghna group economic zone

Senior  reporter

Senior reporter

The Bangladesh Economic Zones Authority (Beza) has signed a pre-qualification licence agreement with the Meghna Group of Industries for its fourth economic zone (EZ) on Wednesday afternoon.

The economic zone named, Titas Economic Zone (TEZ), is the fourth for the group and this is the 22nd license issued by BEZA.

BEZA Executive Chairman Shaikh Yusuf Harun chaired the program while the chairman of Meghna Group Chairman and Managing Director of the group Mostafa Kamal was present as the special guest of the handover program.

According to MGI, the EZ will create 60,000 employment while they are expecting a USD$3 billion investment. The EZ will cover 161 acres of land in the Chalibanga area in Cumilla while it has the plan to improve it to a EZ covering 400 acres of lands.

The three other EZs the group is building are -- Meghna Industrial Economic Zone (Miez that completed a total of 80% of its allotments) and Meghna Economic Zone (Mez that clears allotments to the parties) while Cumilla Economic Zone (CEZ that completed a total of 25% of its allotments).

According to BEZA, some 27 factories are under construction in these EZs and factories under seven international companies have already gone for their production.

Besides, eight private economic zones with final certificates are currently engaged in commercial production under the Beza. Products are being manufactured in two economic zones of the City Group, namely City Economic Zone and Hoshendi Economic Zone.

Besides, Abdul Monem Ltd's Abdul Monem Economic Zone, Bay Group's Bay Economic Zone, Aman Group's Aman Economic Zone and Bashundhara Group's East-West Special Economic Zone are also engaged in product manufacturing right now.

In these EZs 62 companies have invested over USD$4 billion. 38 companies have come to production in these zones while 24 others are under construction, BEZA informed.
BEZA Executive Chairman Shaikh Yusuf Harun hoped that being close to the capital TEZ will be able to fetch more investment from abroad.

He said that the EZ has the potential to be one of the most important privately established zones wh can get much attraction from foreign companies.

The investment should be made with a long-term business plan instead of getting incentive packages in these economic zones, he opined.


Leave A Comment

You need login first to leave a comment

Trending Views