Bangladesh Economic Zones Authority

Bangladesh Economic Zones Authority or BEZA (Bengali: বাংলাদেশ অর্থনৈতিক অঞ্চল কর্তৃপক্ষ / বেজা) is a centralized economic zones authority of Bangladesh which was instituted by the government in November 2010 under Bangladesh Economic Zones Act, 2010.[1] The organisation is responsible for establishing and managing of SEZs of Bangladesh.[2] It is run from Prime Minister's Office of Bangladesh.

Bangladesh Economic Zones Authority (BEZA)
Agency overview
Formed2010 (2010)
JurisdictionGovernment of Bangladesh
HeadquartersPrime Minister’s Office, Old Sangshad Bhaban, Tejgaon, Dhaka
23.768098°N 90.392070°E / 23.768098; 90.392070
Agency executives
Parent agencyPrime Minister's Office
Websitebeza.gov.bd

History

As the Bangladesh Government took the initiative to become a developed nation under Vision 2041,[3] the government plans to set up at least 100 public and private SEZs across the country.[1][4] Bangladesh Economic Zones Authority was founded through the Bangladesh Economic Zones Act 2010 and established in November 2010 with topmost priority to attract more FDI and to increase and diversify country's export to the world.[5][6] The agency reports to the Prime Minister's Office.[7] Prime Minister Sheikh Hasina is the present chair of the agency.[4] In 2015 the private export processing zones were placed under its authority.[8]

Structure

BEZA consists of two boards: Governing Board, Executive Board.[9] the chairman of Governing Board is the Prime Minister and members include Governor of Bangladesh Bank, Finance Minister and other high-level ministers and elected policymakers.[10] The Governing Board is responsible for overall policy decisions.[10] Executive Board includes bureaucrats from Government of Bangladesh. With Paban Chowdhury being the current Executive Chairman the executive Board oversees the day-to-day operation of the organisation.[9]

Operation

To capture manufacturing investors from home and abroad in its 100 proposed special economic zones in various parts of the country,[4] BEZA declared flirtatious incentives: duty-free imports on raw material, capital machinery, tax-cut from capital gains etc. for investors in SEZ's.[11]

With Mirsarai Economic Zone (MEZ) situated within the banks of Karnaphuli River near Chattogram Port being the largest SEZ so far is expected to create 150,000 new jobs.[12] There has been initiative to create an export-oriented textile garments park on 500 acres of land which is assume to go production by December 2018.[13] The economic zone also caught investment endorsement from multinational corporations like Wilmar-Adani,[14] China's Zhejiang Jindun Holdings.[15]

With collaboration with BEZA, Meghna Group established the country's first operational private SEZ Meghna Eeconomic Zone in March 2018.[16]

BEZA is also helping China Harbour Engineering to set up a China Industrial Zone of 750 acres of land in Bangladesh for Chinese investors.[17]

Newly established and proposed economic zones

Recently Government has approved 37 new Economic zones, which consists governmental, non-governmental and Specialized Economic zone. Bangladesh government also announced 50pc tax relief in Hi-Tech parks, Economic Zones.[18]

  • Agailjhara Economic Zone, Barisal (Under construction)
  • Anowara (Gohira) Economic Zone, Chittagong (Under construction)
  • Anowara Economic Zone-2, Chittagong (Under construction)
  • Ashuganj Economic Zone (Under construction)
  • Bagerhat Economic Zone (Under construction)
  • Bhola Economic Zone (Under construction)
  • Cox's Bazar Free trade Zone (Maheskhali)(Under construction)
  • Dohar Economic Zone, Dhaka (Under construction)
  • Habigonj Economic Zone (Under construction)
  • Jaliardip Economic Zone, Teknaf-Cox's Bazar (Under construction)
  • Jamalpur Economic Zone (Approved)[19]
  • Kustia Economic Zone (Under construction)
  • Maheskhali Economic Zone-1 (Under construction)
  • Maheskhali Economic Zone-2 (Under construction)
  • Maheskhali Economic Zone-3 (Under construction)
  • Manikganj Economic Zone (Under construction)
  • Mirsarai Economic Zone, Chittagong (Under construction)[19]
  • Narayangonj Economic Zone (Under construction)
  • Narayangonj Economic Zone-2 (Under construction)
  • Narshingdi Economic Zone (Under construction)
  • Natore Economic Zone (Under construction)
  • Nilphamari Economic Zone (Under construction)
  • Panchagar Economic Zone (Under construction)
  • Sabrang Special Economic Zone (Under construction)
  • Shariatpur Economic Zone (Under construction)
  • Shariatpur Economic Zone-2 (Under construction)
  • Sirajganj Economic Zone (Under construction)
  • Srihotto Economic Zone, Maulavibazar (Under construction)[19]
  • Sripur Economic Zone (Japanese Economic Zone), Gazipur (Under construction)

Non-government economic zones

Government also encouraged building of private economic zone. Some are under construction and some are operational.

  • A.K. Khan Economic Zone (operational)
  • Abdul Monem Economic Zone (operational)[19]
  • Abul Khair Economic Zone
  • Akij Economic Zone[19]
  • Aliance Economic Zone
  • Aman Economic Zone[19]
  • Anowar Economic Zone
  • Arisha Economic Zone[19]
  • Bashundhara Economic Zone[19]
  • Bay Economic Zone[19]
  • BGMEA Garments industrial park (operational)[19]
  • Chatak Economic Zone
  • City Economic Zone [19]
  • City Special Economic Zone
  • Cumilla Economic Zone (operational)[19]
  • East-Coast Group Economic Zone
  • East-West Special Economic Zone[19]
  • Famkam Economic Zone (Proposed)
  • Hamid Economic Zone
  • Hoshendi Economic Zone[19]
  • Karnaphuli Dry Dock Special Economic Zone [19]
  • Kazi Farms Economic Zone Ltd.
  • Kishoreganj Economic Zone (Under Construction)[19]
  • Meghna Economic Zone (Under Construction)[19]
  • Meghna Industrial Economic Zone (Under Construction)[19]
  • PowerPac Economic Zone (Mongla)
  • Sirajganj Economic Zone[19]
  • Sonargaon Economic Zone (operational)[20]
  • Standard Global Economic Zone[19]

Government to government economic zones
  • Chinese Economic and Industrial Zone (CEIZ)
  • Indian Economic Zone (Kushtia)
  • Indian Economic Zone (Mongla)
  • Japanese Economic Zone (Araihajar EZ)

Public private partnership (PPP) economic zones
  • Mirsarai EZ (1st Phase): The Powerpac-East West –Gasmin JV is the developer for this zone
  • Mongla EZ : Mongla EZ is the first PPP EZ in Bangladesh. The developer of first PPP EZ are PowerPac-PPMKPPL JV

Science- and technology-based economic zones

Bangladesh government Establishing Science and technology based Economic zone to attract foreign FDI. Some projects like Kaliakoir high tech park helped by World bank and DFID.[21][22]

  • Barisal high tech park (land acquiring)
  • Chittagong high tech park (land acquiring)
  • CUET IT business incubator centre, Chittagong (under construction)
  • Dhaka high tech park (proposed)
  • Janata tower Software Park (completed)
  • Jessore Software Technology Park (under construction)
  • Kaliakoir high tech park (block development ongoing)
  • Keranigonj Special IT Economic Zone, Dhaka (under construction)
  • Khulna high tech park (proposed)
  • Mohakhali IT Village (land acquiring)
  • Rajhshahi high tech park (land acquiring)
  • Rangpur high tech park (land acquiring)
  • Sylhet Electronic City (under construction)
  • Sylhet high tech park (Land acquiring)
  • United City IT Park Ltd

Tourism-based economic zones

See also

References
  1. "How to make Special Economic Zones successful". The Daily Star. 5 December 2016. Retrieved 1 May 2018.
  2. "Economic Zone investors to get duty exemption on imports". Dhaka Tribune. 23 September 2016. Retrieved 1 October 2016.
  3. "'Goal of becoming adeveloped nation by 2041'". Dhaka Tribune. 26 April 2017. Retrieved 1 May 2018.
  4. "Bangladesh to set up 100 economic zones to woo investment". bdnews24.com. 21 October 2015. Retrieved 1 October 2016.
  5. "The evolution of a bold agenda". Dhaka Tribune. 2 September 2016. Retrieved 1 October 2016.
  6. "Ways to attract investment through SEZs". The Daily Star. 23 February 2017. Retrieved 1 May 2018.
  7. "Jamalpur economic zone proposal to be tabled at Ecnec". Dhaka Tribune. 12 April 2016. Archived from the original on 16 December 2017. Retrieved 1 October 2016.
  8. "Infrastructure Projects: Tokyo to invest under new arrangement". The Daily Star. 11 December 2017. Retrieved 25 December 2017.
  9. "BEZA MANAGEMENT". beza.gov.bd.
  10. "BEZA GOVERNING BOARD". beza.gov.bd.
  11. "Incentives & Benefits for Developers" (PDF). beza.gov.bd.
  12. "Mirsarai economic zone to generate 150,000 new jobs". UNB. Dhaka. 6 February 2018. Archived from the original on 4 May 2018. Retrieved 1 May 2018.
  13. "57 firms seek allocation in RMG Park in Mirsarai SEZ". New Age. Dhaka. 31 March 2018. Retrieved 1 May 2018.
  14. Chakma, Jagaran (19 April 2018). "Wilmar-Adani to invest $350m in Mirsarai economic zone". The Daily Star. Retrieved 4 May 2018.
  15. Akter, Doulot (12 January 2018). "China to invest $5.0b in BD economic zone". The Financial Express. Retrieved 4 May 2018.
  16. Rahman, Sajjadur (26 March 2018). "Meghna sets up eight new plants for $300m". The Daily Star. Retrieved 4 May 2018.
  17. Quadir, Serajul (4 April 2018). "China to develop Bangladesh industrial zone as part of South Asia push". Reuters. Retrieved 4 May 2018.
  18. "50pc tax relief in Hi-Tech parks, Economic Zones". Risingbd. Retrieved 1 December 2015.
  19. "PM opens, lays foundation stones of 24 economic zones". The Daily Star. 3 April 2019.
  20. "Sonargaon Economic Zone gets pre-qualification licence". Dhaka Tribune. 25 August 2016. Retrieved 1 October 2016.
  21. Hi-Tech Park Bangladesh. "Hi-Tech Park Authority". htpbd.org.bd. Archived from the original on 8 November 2015. Retrieved 1 December 2015.
  22. "Bangladesh Hi-Tech Park Authority- – বাংলাদেশ হাই-টেক পার্ক কর্তৃপক্ষ-". htpbd.org.bd. Archived from the original on 13 November 2015. Retrieved 1 December 2015.
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