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Construction of the China Economic and Industrial Zone (CEIZ) in Anwara, Chattogram, will officially begin on Monday, marking the launch of one of Bangladesh's largest foreign investment-driven industrial projects after more than a decade of delays.
The foundation stone for the project will be laid at a ceremony, signalling the start of a new phase for the economic zone.
Bangladesh and China signed a memorandum of understanding (MoU) for the project in 2014, while land acquisition was completed in 2016. However, implementation was delayed for years due to administrative hurdles.
The project regained momentum following Chief Adviser Tarique Rahman's recent visit to China, during which the Bangladesh Economic Zones Authority (BEZA) and the China Road and Bridge Corporation (CRBC) signed an implementation agreement. The Executive Committee of the National Economic Council (ECNEC) approved the project on June 16.
The economic zone will be developed on around 800 acres of land in the Belchura area of Anwara, near the confluence of the Karnaphuli River.
The foundation stone laying ceremony is expected to be attended by Finance Minister Amir Khasru Mahmud Chowdhury, Home Minister Salahuddin Ahmed, Chinese Ambassador Yao Wen, and BEZA Executive Chairman Chowdhury Ashique Mahmud Bin Harun.
According to BEZA, the project will be implemented under a government-to-government (G2G) arrangement. The total project cost has been estimated at Tk 4,189.46 crore, including Tk 1,722 crore in government financing and Tk 2,467 crore through a Preferential Buyers Credit (PBC) loan from China's Exim Bank.
Amirul Haque, President of the Chattogram Chamber of Commerce and Industry (CCCI), said the dedicated industrial zone for Chinese enterprises would further strengthen the economic partnership between Bangladesh and China.
