The BIDA Executive Chairman said that Bangladesh currently does not have a functional free trade zone concept. Initially, there are plans to develop a free trade zone on approximately 600 to 650 acres of land in Anwara, Chattogram. Policy approval for this has been granted today.
If everything proceeds according to plan, it will be possible to reach an initial implementation stage by the end of this year, he added.
The governing board has also given policy approval to link the Kushtia Sugar Mill with BEZA and develop the area into an industrial park.
Ashik Chowdhury said the approximately 200-acre sugar mill site already has gas, electricity, roads, and infrastructure facilities. As a result, many of the initial challenges for investors have already been addressed, and the land can be utilized easily.