Establishment of Korea industrial complex to begin next year


As per the requirement of Korea Industrial Complex (KIC) Company Limited, Bangladesh Economic Zones Authority (BEZA) is likely to hand over land in January next year for setting up Korea industrial complex in the country, reports BSS.

KIC has submitted proposal for over 500 acres of land in the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN), at Mirsarai, Sitakundu and Sonagazi upazillas under Chattogram and Feni districts for setting up the industrial complex.

Talking to BSS, KIC Chief Executive Officer (CEO) Bae Ho Cho said Korean companies are showing keen interest to set up factories in Bangladesh in line with the investment-friendly environment and policy supports of the government.

“We want to start land development works from next year, if the government and BEZA help us secure the land and if we can complete other procedures, including feasibility study,” he said. He said at least 100 Korean companies of different sectors, including machinery, construction materials, electric and electronic, chemical, metal machine, cloth processing and medical equipment, will set up their factories in the industrial complex

“We have submitted a draft proposal to BEZA for setting up the industrial complex. We will start land development works from middle of the next year if the government and BEZA help us secure the land and we can complete other procedures, including feasibility study,” he said. Expressing satisfaction over the cooperation of BEZA officials, he said, KIC is going to establish the industrial complex to set up a foundation for regional industries and to stimulate the local economy through job creation and boosting income.

Bae Ho Cho sought more infrastructure and power supports from the government to establish the industrial complex and bring more Korean investment in the country.

“Korea and Bangladesh established friendly relations through a mutual agreement of economic cooperation and the formation of Korea-Bangladesh Joint Committee. KIC wants to develop a large-scale growth oriented industrial complex in the country,” he added. 

He informed that they have visited the project site in BSMSN which is situated in Bay of Bengal and convenient to transport freight by a water channel. “The infrastructure is well furnished such as roads, railways, electricity and water supply and continues 

to expanded,” he said. For accelerating the process of establishing the industrial complex, a five-member delegation, led by KIC CEO Bae Ho Cho, on Sunday met BEZA executive member (additional secretary) Mohammed Ayub at BEZA office in the city.

Referring to the meeting, Mohammed Ayub said BEZA is likely to hand over the land for establishing the industrial complex in January. “Initially, KIC has submitted proposal for over 500 acres of land which will be extended around 2000 acres in future,” he added.