From catkin field to the model monetary zone
The Meghna Industrial Economic Zone (MIEZ) located beside the Dhaka-Chattogram highway was only a catkin field five years back but it has since turned into an industrial hub.
Situated on 110 acres of land at Tipordi beneath the Sonargaon upazila of Narayanganj, the MIEZ was established by Meghna Band of Industries (MGI) as the most modern financial zone of Bangladesh.
And yesterday, the neighborhood business giant flagged off nine new professional units set up at a price of Tk 4,000 crore at MIEZ in a bid to meet up the country's growing demand for consumer products and professional raw materials.
The units, which were inaugurated by Finance Minister AHM Mustafa Kamal, have created a lot more than 10,000 occupations.
"Meghna Group has setup these professional units for the persons of Bangladesh. The united states will establish rapidly if everyone works for just one another just how Mostafa Kamal [MGI's chairman and managing director] does," the finance minister said.
Praising Kamal's initiative, Commerce Minister Tipu Munshi said that the MGI chairman can be an example of how corporate culture ought to be in Bangladesh.
"He is an effective entrepreneur due to his dedication and patriotism, that is a fruit of independence," he said, while thanking Kamal for selflessly helping the federal government mitigate the recent onion crisis.
The MIEZ is an example of how an economical zone ought to be developed, said Paban Chowdhury, executive chairman of the Bangladesh Economic Zones Authority (BEZA).
In 2015, the area was just a catkin field with banana trees strewn about but BEZA helped MGI build-up the commercial hub with their cooperation and by providing land.
"We need more persons like Mostafa Kamal, who builds up industries, helps create jobs and contributes to GDP growth," he added.
Within the last five years, Bangladesh's GDP has increased by 105 per cent as a result of rapid growth of private investment from companies like MGI, said Sheikh Fazle Fahim, president of the Federation of Bangladesh Chambers of Commerce and Industry.
"Kamal can be an exceptional man who breaks the typical landlord stereotyping of big businessmen in the united states," he added.
But it is not smooth sailing for the MGI chief though.
In his speech, he said 13 of his commercial units situated in the zone didn't get gas supply for a long period even though he had deposited the Tk 220 crore as security to Titas Gas.
The largest gas distributor in Bangladesh continues to make different excuses for the delay in connecting the units to gas supply, he said.
After meeting local demands, MGI intends to export the many products made at the zone.
MGI has 48 operational industrial units located in different areas. Of this total, 24 factories, such as six foreign companies, are located at economic zones.
"I've a dream that the MGI's Fresh brand products will be found at every household of Bangladesh. MGI is focused on ensuring product quality," he added.
The units which were formally inaugurated are: Meghna Sugar Refinery, Sonargaon Seeds Crushing Mills, Meghna Ball Pen and Accessories MFG, Meghna Noodles and Biscuit Factory, Sonargaon Printing and Packaging Industries, Fresh Welding Electrodes and Wire, Meghna Fresh LPG, Sonargaon Ship Builders and Dockyard, another unit of Fresh Cement.
Khalid Mahmud Chowdhury, state minister of the shipping ministry, and Liakat Hossain Khoka, MP, spoke at the programme amongst others.
