BM Desk:
A memorandum of understanding has been signed between Sirajganj Economic Zone and the Australia-Bangladesh Business Forum to promote foreign investment. The MoU was signed in a meeting at the Beza office on Wednesday. The purpose of the MoU is to attract investment from Australia and Bangladeshi expatriates to all economic zones, including Sirajganj Economic Zone.
According to Bangladesh Economic Zone (BEZA), Sirajganj Economic Zone is the largest economic zone in the country and the first economic zone in the northern region, which is located on the banks of the Yamuna on 1035.93 acres of land. It was licensed as a private economic zone in 2018. A new avenue of employment is going to be opened for the people of the northern region in this region with good connectivity by road, sea, air, and rail. This will lead to an expansion of import-export and cargo transportation opportunities due to connectivity with India, Nepal, and Bhutan through Burimari, Hili, and Banglabandha (Tetulia). There are plans to set up an inland container depot here to increase connectivity with Chittagong and Mongla sea ports. If this area located west of the Bangabandhu Bridge is opened, it will create employment opportunities for the people of the northern region as well as improve the quality of life through a coordinated initiative of domestic and foreign investment.
Owned by Sirajganj Economic Zone Limited, which comprises 11 companies, potential investment areas in this economic zone are: textiles, apparel and jute products; pharmaceuticals; processed food; pulp and paper; ceramics; chemical products; automobile engineering; electrical and electronic; plastics; leather products and shoes; IT parks; glass industries; furniture; LPG terminals; steel industries; processed fisheries; and ship industries. Agreements have already been signed with 18 institutions for the allotment of land. Various institutions are carrying out development activities, while the construction of service connections and ancillary facilities is going on at an equal pace. This economic zone is expected to create employment opportunities for 5,00,000 people in phases. Along with ensuring electricity, water, and other facilities, a commercial area including Central Waste Management (CETP), a dormitory, a five-star hotel, health care, daycare, and a recreation center will be developed here. Also, technical training centers will be set up in the Sirajganj Economic Zone to develop skilled manpower.
Bangladesh Business Forum is a forum of expatriate Bangladeshi businessmen based in Australia, under which there are about 600 business establishments. The signing of this MoU will expand new areas of foreign investment in the Sirajganj Economic Zone. As part of this MoU, there are plans to organize seminars in addition to multiple road shows in both countries where investment attraction will be accelerated by presenting planned industrialization opportunities in all economic zones.
In the meeting, Bangladesh Economic Zone Executive Chairman Sheikh Yusuf Harun congratulated Sirajganj Economic Zone and said that their initiative in attracting foreign investment deserves praise. He said that Beja is working tirelessly to realize the dream of a developed Bangladesh in 2041. He mentioned that in order to create a suitable environment for investment in the country, private or non-governmental organizations are also encouraged to establish zones in order to build economic zones under the government. He said that Sirajganj has cooperated well in all areas, including land acquisition, and will continue to do so in the future.
Sirajganj Economic Zone Director Sheikh Monowar Hossain said that this economic zone is going to be built on the motto of the Honorable Prime Minister’s ‘My Village, My City’, which has been approved for setting up labor-intensive industries. He also said that, as a result, the people of the northern region will be included in the mainstream of the economy, and skilled manpower will be created. He said that to ensure uninterrupted utility services, connectivity has been established from multiple ends with alternative systems in this zone, which is attracting investors.
Abdul Khan Ratan, founder president of the Australia Bangladesh Business Forum (ABBF), said that they are very happy to sign the MoU with Sirajganj Economic Zone as it is possible to increase the flow of foreign investment in the current development context of the country. He said that ABBF has more than 30 business organizations from various sectors that have expressed great interest in investing in Bangladesh.
The MoU was signed on behalf of Sirajganj Economic Zone Ltd. by Director Kamruzzaman and on behalf of the Australia-Bangladesh Business Forum (ABBF) by Founder President Abdul Khan Ratan. The meeting was attended by entrepreneurs and managers of the Sirajganj Economic Zone and representatives of ABBF, among others.
