The progress of setting up Special Economic Zones (SEZ) has slowed down due to complexities in land acquisition and development activities due to the impact of Covid-19.
The Bangladesh Economic Zones Authority (BEZA) was established by law in 2010, with the aim to establish 100 economic zones by 2030 across the country. Special focus would be given to backward and underdeveloped regions to encourage rapid economic development through diversification of industry, employment, production and export’.
The Foreign Investors Chamber of Commerce and Industry (FICCI) in a survey report recently expressed their concern over the slow pace of SEZs project implementation.
The organization represents investors from a total of 35 countries. About 90 percent of the total foreign direct investment (FDI) in the country comes from FICCI members.
The companies have investments in banking, non-bank financial institutions, cement, ceramics, chemicals, construction, housing, consulting, fast-moving consumer goods, gas-electricity, leather and leather goods, clothing and transportation.
According to the FICCI, the government has so far approved 97 zones, comprising 68 public and 29 private economic zones.