Infrastructure Development of Japanese Economic Zone (EZ) Project, under the Bangladesh Economic Zones Authority (BEZA), today inked an agreement for land development of the Japanese EZ, reports BSS.
Prime Minister’s Principal Secretary Dr Ahmad Kaikaus attended the contract signing function as the chief guest at Pan Pacific Sonargaon Hotel in the city while Secretary of the Prime Minister’s Office (PMO) Md Tofazzel Hossain Miah, Minister of the Embassy of Japan in Bangladesh Hiroyuki Yamaya, Chief Representative of the JICA Bangladesh Office Hirata Hitoshi, Chief Representative of JETRO Dhaka Yuji Ando and Executive Officer of the Internal Division of TOA Corporation, Japan Masaki Uematsu were present as special guests.
Executive Chairman of the Bangladesh Economic Zones Authority (BEZA) Paban Chowdhury presided over the event. Project Director of the Infrastructure Development of Japanese Economic Zone (EZ) Project Saleh Ahmed and Executive Officer of the TOA Corporation Masaki Uematsu inked the contract on behalf of their respective sides.
After the exchange of visits of the Prime Ministers between the two countries in 2014, the number of Japanese inventors in Bangladesh is increasing day by day. Now, Japanese business community has started to pay attention to Bangladesh as the next destination of investment.
The zone is expected to attract US$20 billion worth foreign investments, most of which will be from Japan. The investment is likely to play an important role in creating employment and also in transferring technologies to this country. The zone will have an appropriate recycling plant to remove industrial wastes.
Industries from the agro-food, light engineering, chemical, automobile assembly, garments and pharmaceutical sectors will be set up in the EZ. The economic zone is likely to create around 100,000 employments.
