United News of Bangladesh

The Bangladesh Economic Zones Authority (BEZA) will set up the country’s first Defence Industrial Zone in Mirsarai, Chattogram, to produce military equipment for domestic use and export. The decision was taken at a meeting of the Investment Promotion Agency (IPA) on Monday, chaired by Chief Adviser Prof Muhammad Yunus. Speaking at a post-meeting press conference at the Foreign Service Academy, BEZA Executive Chairman Chowdhury Ashik Mahmud Bin Harun said the zone will be developed on about 850 acres of land in Mirsarai, and the decision was made in consultation with the Armed Forces Division and with government approval. Ashik said the zone will initially focus on the production of basic warfare equipment. “Recent wars have shown that shortages often arise in basic military items such as bullets or tank components. If we have a dedicated zone to produce these locally, it will not only meet our own needs but also create a scope for exports in the future.” Over 4 lakh expats cast votes through postal ballot till Monday He said the land earmarked for the project had remained unused after the previously planned Indian Economic Zone was cancelled. “Several countries have already expressed interest in investing in this defence industrial zone, but their names cannot be disclosed due to security and confidentiality reasons.” On arms exports, Ashik said Bangladesh’s existing arms-manufacturing facilities are not sufficient to meet full domestic demand. “Once this zone is operational, we will gradually meet local demand and then move towards exports. Initially, work may begin on around 50 acres, with expansion taking place in phases. It has already been included in the master plan,” he said. Alongside the defence zone, BEZA has also decided to establish a Free Trade Zone (FTZ) on 650 acres of land in Anwara, Chattogram. Ashik said the FTZ will allow any country to store goods there without customs complications. “Dubai earns around $194 billion annually from a similar free trade zone, which accounts for 34 percent of its GDP. Bangladesh also wants to tap into the potential of the Bay of Bengal in the same way.” Referring to trade facilitation, he said the absence of a free trade zone is one of the reasons why American cotton does not come to Bangladesh in large volumes. “If an FTZ is set up here, exports will become easier. Countries like the United States could also use this zone to re-export goods to other destinations such as Vietnam.” The BEZA Executive Chairman said establishing a free trade zone would require amendments to eight legal and regulatory provisions involving multiple ministries. “We are completing the policy-level work. The elected government will carry out the work execution.” Market stable, prices likely to ease further in Ramadan: Adviser Bashir Ashik also said BEZA has decided to work on reviving the Kushtia Sugar Mill on 200 acres of land. In addition, to protect agricultural land, BEZA has decided to bring 331 municipalities—previously outside its jurisdiction—under its purview. These initiatives are part of a broader effort to promote planned industrialisation while safeguarding agricultural land.