Japanese economic zone opens today

Business Desk :
Prime Minister Sheikh Hasina is scheduled to virtually inaugurate a Japanese economic zone, to be called Bangladesh Special Economic Zone, at Araihazar in Narayanganj today (Tuesday).
This was informed by Bangladesh Economic Zones Authority (Beza) Executive Chairman Shaikh Yusuf Harun at a views-exchange meeting organised with the Development Journalists Forum of Bangladesh (DJFB) at his office in the capital yesterday.
“A total of 40 companies, 30 are from Japan, have shown their interest to invest in the zone. If the entire economic zone is opened, there will be an investment of $1.5 billion,” he said.
“One lakh people will be employed there,” he said, adding that investment agreements have already been signed with Singer and German company Rudolf.
Two Japanese companies will also sign land lease agreements, he added, without disclosing the names.
On investment and returns sharing, Harun said Beza’s share was 24 per cent, Japan International Cooperation Agency’s 15 per cent and Sumitomo Corporation’s 61 per cent.
He said factories would hopefully start production there within one year.
Companies making investments there are focused on agrifood, light engineering, chemicals, automobile assembly, garments and pharmaceuticals, he added.
On environmental impact assessment, he said, “No red category industry will not be allowed to this economic zone. Every factory will be asked to set up effluent treatment plant while the government will build a central effluent treatment plant.”