The Chinese government will set up a Special Economic Zone (SEZ) on 783 acres of land in Chittagong's Anwara upazila under a government to government (G to G) deal.
Bangladesh Economic Zones Authority (BEZA) executive chairman Paban Chowdhury and China Harbour Engineering Company Ltd. (CHEC) CFO Shengquan Xiong signed a shareholder agreement for setting up the SEZ-Chinese Economic and Industrial Zone- which is expected to attract US42.0 billion in investment.
Abul Kalam Azad, Chief Coordinator for Sustainable Development Goals (SDG) Affairs in the Prime Minister's Office, and Prime Minister's principal secretary Dr Kamal Abdul Naser Chowdhury were present at the agreement signing ceremony held at the Prime Minister's Office on Thursday.
"It is for the first time that a foreign company is going to set up a SEZ in Bangladesh on G to G basis.The main work on project will begin in December this year," Paban Chowdhury told BSS.
"We hope that this zone will create jobs for two lakh people," he added.
The BEZA executive chairman said China will set up medicine, apparel, agro procession, chemical, medical equipment, plastic and IT industries in the zone. Two connecting roads have already been constructed for the proposed SEZ, he added.
Earlier, a memorandum of understanding (MoU) was signed between the BEZA and CHEC for setting up the SEZ in Anwara during Prime Minister Sheikh Hasina's China visit on June 11, 2014.