Bangabandhu Shilpa Nagar to live green
The federal government has undertaken a Tk 4,367 crore project to turn the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) into an environment-friendly commercial city with a view to attracting more foreign investment.
The new project for the advancement of the BSMSN was approved by the Executive Committee of the National Economic Council (Ecnec) at its virtual meeting yesterday with its chairperson, Primary Minister Sheikh Hasina, in the chair.
The premier directed conducting large publicity to inform the investors and attract those from abroad.
Bangladesh Economic Zones Authority (Beza) will implement the task between January 2021 and December 2025 as a way to create an enabling environment for sustainable individual investment and a dynamic native market for professional land.
The World Bank provides $467 million (about Tk 3,970 crore) for the initiative under its Private Investment and Digital Entrepreneurship (PRIDE) project and the rest of the Tk 380 crore will be borne by the government.
This project can help transform BSMSN right into a global standard and sustainable commercial city, said Beza Executive Chairman Paban Chowdhury.
He said territory of two of the 30 zones of the BSMSN have been allocated for the investors.
The 30 economical zones under the BSMSN which will be of a global normal ensured with environmental compliance and utility services, security, communication and other folks of international standard.
Relating to him, although numerous facilities can be created below this project, the entire BSMSN would be benefited.
He said investors who concentrate on taking initiatives by themselves to stay green will be rewarded with incentives.
The project will generate opportunities in attracting domestic and foreign immediate investment, rapid industrialisation, diversification of commodities, increase in export earnings and, above all, earning foreign exchange.
In addition, the implementation of the task will create employment for a large amount of people, including women, which will help in poverty alleviation. In this context, the look Commission thinks that the project will probably be worth taking into consideration.
"The World Lender continues to aid Beza's activities as the multilateral loan company is content with our actions," said Chowdhury, adding that latest initiative would promote foreign expenditure in the country's monetary zones.
Under the project, Beza will construct a 30-kilometre road inside BSMSN alongside other necessary infrastructures for instance a central effluent treatment and desalination plant, solar technology systems and so on.
Initiated on January 1, 2014, the ongoing project to generate the BSMSN is expected to be complete simply by January 30 next calendar year.
Some 548 acres have already been developed for industries in the BSMSN-1, some 1,939 acres in the BSMSN-2 and 474 acres in the BSMSN-2B. A complete of 114 professional units have been allocated land across the three zones under a stage-1.
By January 2021, numerous businesses from both residence and abroad attended up with purchase proposals valued at $20 billion for the professional city, according to Beza info.
The World Bank previously provided $500 million for the BSMSN's development on condition that no factories would be set up prior to the utility connections were provided.
Now 13 different businesses, including Asian Paints, McDonald Steel, Modern Synthetic and TK Group, are establishing their manufacturing units now there.
"These factories will go into industrial production by this year," Chowdhury said.
In line with the Beza executive chairman, the BSMSN appears to be slowly spending shape day-by-evening while investors have started growing the physical infrastructure of the 30,000-acre economic zone.
"With this, we trust that total purchase in the BSMSN will reach $30 billion simply by 2030, which is equivalent to the total expenditure made in all the economical zones combined," this individual added.
Chowhudry went in to assure that neighborhood and foreign businesses would enjoy equal rewards at the BSMSN.
Once complete, the zone will become the third largest city in Bangladesh immediately after Dhaka and Chattogram just as around 15 million persons will live and do the job found in the adjoining areas, Chowdhury said.
The Ecnec approved another project styled "Digital entrepreneurial and innovative ecosystem development" involving Tk 335 crore.
Of the full total cost, World Bank will finance Tk 255 crore and the rest of the Tk 98 crore will be borne by the federal government.
Beneath the project, university-going pupils aspiring to be tech-business owners are set to obtain a shot in the arm as the federal government is likely to create innovation hubs at both public and individual universities to build up digital entrepreneurship and innovation ecosystems.
Besides, the conference also approved a job involving Tk 428 crore to develop the abilities of 256,000 unemployed and disadvantaged females to turn them into business owners and create jobs.
The project will try to make 1,600 women self-employed by establishing 80 sales and display centres and the same number of food corners and beauty parlours.
The Jatiyo Mohila Sangstha, a welfare organisation for women under the women and children affairs ministry, will execute the project between January 2021 and December 2025.
The premier took part in the meeting through video conference from her official Gono Bhaban residence. Ministers, point out minister, secretaries and other officials concerned became a member of the getting together with from the NEC Meeting Bedroom in the city's Sher-e-Bangla Nagar area.
