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Construction of state economic
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up 10 zones on their own in a quick manner. What is more, a number of companies are exporting products from there.
BANGABANDHU SHILPA NAGAR
The BSMSN is the first economic zone in the country that has seen a company, McDonald Steel Building Products, start trial operations.
The Beza is developing 30,000 acres of land in three upazilas of Chattogram and Feni districts and aims to generate 15 lakh jobs in the industrial hub by 2030.
It has invested Tk 4,000 crore to develop the enclave while the development works involving Tk 6,000 crore were ongoing.
Seven industrial units, including that of Asian Paints Bangladesh, Nippon and McDonald Steel, are set to go into production by December, Abdullah Al Mahmud Faruk, project director of the BSMSN, told The Daily Star.
“It is now a matter of time that some factories start commercial operation at the BSMSN.”
The Beza has allocated 6,256 acres of land against 153 investment proposals at the industrial hub where around 9 lakh jobs will be created.
Large-scale industries aimed at manufacturing products such as steel, painting, and automobile are being set up in the city. Businesses from home and abroad have proposed to invest $20.13 billion.
Sarwar Kamal, managing director of McDonald Steel, says the official inauguration of the factory will be held as soon as possible.
SHREEHATTA ECONOMIC ZONE
The zone is ready to set up factories as the site development has almost been completed and the utility connection has been set up.
The Beza has received about $1.5 billion investment proposals from domestic investors.
Six companies have been allotted 231 acres of land, and 43,000 employments are due to be created in the planned factories.
DBL Group is going to invest $650 million to establish 10 factories to manufacture textiles, ceramic and sanitary items in the estate.
FOREIGN ECONOMIC ZONES
Land development at two Indian economic zones in the BSMSN and Mongla, and the Japanese Special Economic Zone in Araihazar of Narayanganj has started.
The Beza is expecting multibillion-dollar foreign direct investment in the zones.
Saleh Ahmed, project director of the Japanese Economic Zone, says already 160 acres of land have been handed over to the Japanese authority to set up factories. Ten companies have shown their interest to invest in the zone so far.
Japanese investors plan to invest in automobile, manmade fibre, home appliance, electronics and toy sectors.
Ahmed is expecting to finish the development work by the middle of 2022 and start the commercial operation by March 2023.
“At least 100 Japanese companies will be accommodated in the zone.”
MOHESHKHALI ECONOMIC ZONE
The zone in Cox’s Bazar has already wooed investment proposals worth $2.5 billion.
Super Petrochemical Pvt Ltd, a concern of TK Group, and SK Group of South Korea plan to invest $2.5 billion jointly to establish a petrochemical complex and an LPG terminal in the zone.
They have begun setting up the factories on around 450 acres of land. The plants will create 20,000 jobs, directly and indirectly.
JAMALPUR ECONOMIC ZONE
In the zone, 88 acres have been allocated and 11 investors have placed investment proposals involving $42.47 million. Foreign companies have placed proposals to invest $11.76 million.
According to the Beza, all utility connections have been set up and the Beza has invested Tk 300 crore to prepare the zone for setting up factories.
TOURISM PARKS
Road development has been completed and electricity infrastructure has been put in place at the proposed park at Sabrang in Teknaf at a cost of Tk 80 crore. Land development works and the construction of embankment are continuing to protect the future tourist destination.
Already 118 investors have offered to put in $303 million, including $98.78 million from international investors.
The Beza is working to establish a world-class tourism city on 10,000 acres of land in the Sonadia Island of Moheshkhali.
The agency has constructed the connecting road, bridge, safe water supple line, power sub-station, and administration building at an expenditure of Tk 50 crore.
Fahmida Khatun, executive director of the Centre for Policy Dialogue, said because of the sluggishness in implementation, the pace of industrialisation is slowing.
“If the zones were developed as per schedule, factories would have been set up and jobs would have been created,” she said, adding that they would have supported many other sectors indirectly.
“We take many programmes with a lot of enthusiasm, but they are not translated into reality on time.”

Renata gets
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our businesses fast in European markets,” said Jubayer Alam, company secretary of Renata.
The drugmaker announced a 145 per cent cash dividend and 10 per cent stock dividend for the year that ended on June 30 of 2021.
The company said its earnings per share rose 14 per cent year-on-year to Tk 25.62 in the first six months of the current financial year.
Renata started its operations in 1972 as Pfizer (Bangladesh) Ltd. In 1993, Pfizer transferred the ownership of its Bangladesh operations to the local shareholders and the name of the company was changed to Renata Ltd.