PowerPac Economic Zone Pvt Ltd, a concern of Sikder group, the country's leading industrial conglomerate, has been widely acknowledged for it's courageous move to make significant investment in the special economic zone. "Sikder Group is striving to fulfill the goals of Prime Minister’s vision 2021 and 2041 through implementing a number of vital projects including Mongla Economic Zone", said speakers at the Investment Promotion Program of Mongla Economic Zone on Monday.
The Investment Promotion Program of Mongla Economic Zone, organised by PowerPac Economic Zone in association with Bangladesh Economic Zones Authority (BEZA) was held at the Ball room of Pan Pacific Sonagaon Hotel in the capital. Private Industry and Investment Adviser to Prime Minister, Salman Fazlur Rahman, MP attended the program as chief guest while Principal Coordinator, SDG Affairs, Md. Abul Kalam Azad attended as special guest with Executive Chairman of BEZA, Paban Chowdhury in the chair.
Managing Director , PowerPac Economic Zone Pvt. Limited, Ron HaqueSikder was present on the occasion. Addressing as chief guest Salman Fazlur Rahman said the idea of Economic Zone was originated early in 1996 targeting to fostering industrialization. Economic Zone can contribute in both the expansion of domestic industry as well as for export.
"Among the targeted 100 economic zones already 28 are under operation while it is expected that the remaining 72 will come to be implemented pretty soon. And what I believe that it will need to go for 2nd phase of economic zone as there have demand from both home and abroad", Mr. Rahman added.
He said the idea of Economic Zone mainly came from Prime Minister Sheikh Hasina, today the BEZA has been implementing the idea wonderfully. There have various models of economic zones in different countries of the world but in our country we have been preferring country-specific special economic zone and it’s a new idea.
He mentioned that as the Mongla Economic Zone is located nearby Sundarbans, so it is urgent to be careful about maintaining all safety measures so that the beauty and environment issue of the world's largest mangrove forest is not harmed. Mr. Rahman thanked Sikder Group for their initiatives to develop and operate first ever Design, Build, Finance, Own, Operate and Transfer (DBFOOT) basis Economic Zone in Bangladesh.
Abul Kalam Azad, Chief SDG Coordinator mentioned that the Mongla Economic Zone is playing a vital role towards the achievement of sustainable development goals (SDG). Assuring that the Mongla Economic Zone will be developed by protecting the bio-diversity of the Sundarbans and saving all the environmental impacts, he said that the combination of the Mongla Port and Mongla Economic Zone will be beneficial for both the exporters and importers of the country.
Mr. Azad advised all the investors of the Mongla Economic Zone so that their projects become green instead of yellow or red. Paban Chowdhury mentioned that Sikder Group is striving to fulfill the goal of our Prime Minister’s vision 2021 and 2041 through implementing a number of vital projects including Mongla Economic Zone.
He said BEZA has targeted to establish 100 Economic Zones throughout the country with the objectives to create 10 million jobs and ensure $40 billion US dollar additional production and export within the time frame of 15 years. Executive Member of BEZA, Mohammed Ayub while delivering address of welcome, said many of the South Asian countries have started developing soon after establishing economic zones
Mentioning that the 'PowerPac Economic Zone' is first mover in this sector and this is an appreciable move, Mr. Ayub said Prime Minister has directed the BEZA to be careful to preserve the interest of the investors in the zone. Mohammad Salahuddin, Project Director of PowerPac Economic Zone Private Limited made a presentation on the project.
He mentioned that 44% land of the Processing Zone already allocated for the various industries and balance land of the Processing Zone is still available for the unit investors with attractive incentives and facilities. Earlier the PowerPac Economic Zone Mongla, signed the Developer Agreement on February 25, 2016 with Bangladesh Economic Zones Authority (BEZA) to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) of Mongla Economic Zone at Mongla, Bagerhat, having 205 acres of land for a period of 50 (fifty) years.
Bangladesh Economic Zones Authority (BEZA) has been established with the enactment of Bangladesh Economic Zones Act, 2010 with the objective to develop regional and lagging areas of the country by developing industrial land, attract investment in export and import substitute industries, foster and generate employment and thereby ensure economic development of the country.
Mongla economic zone (Mongla EZ) is strategically well connected with Dhaka and other major cities of Bangladesh. It is located beside Mongla river and the Mongla seaportis less than a kilo meter away from the zone. Road distance between Mongla EZ and Dhaka is 170 km (through Mawa), proposed Khan Jahan Ali airport at Rampal20 km. Once the Padma Bridge goes on operation, Mongla port activities will enhance significantly. Cargo handling at Mongla port is increased by 30% every year.
Government is constructing 53km long Khulna-Mongla railway line to connect the second largest sea port Mongla with the railway network. Mongla EZ is now fully developed for setting up factories. Various infrastructure development activities are going on at Mongla EZ site in the tune of over taka 300 crore.
Good number of investors from home and abroad has shown interest for setting up plants at Mongla EZ. Some companies already signed land lease agreement for establishing HFO storage facility, 100MW power plant, Steel fabrication plant, Toiletries plant to name few. PowerPac Economic Zone Pvt. Ltd. welcomed all the investor to invest at Mongla EZ considering its strategic location and future business potentiality.
COO & Director (Operation), Sikder Group, Syed Qamrul Islam Mohon (center) is seen alongwith other distinguished guests in the audiance at the investment promotion program of PowerPac Economic Zone at the Pan Pacific Sonagraon Hotel on Monday.
