The government has undertaken a Tk 4,367 crore project to turn the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) into an environment-friendly industrial city with a view to attracting more foreign investment.
The fresh project for the development of the BSMSN was approved by the Executive Committee of the National Economic Council (Ecnec) at its virtual meeting recently with its chairperson, Prime Minister Sheikh Hasina, in the chair.
The premier directed conducting massive publicity to inform the investors and attract those from abroad.
Bangladesh Economic Zones Authority (Beza) will implement the project between January 2021 and December 2025 in order to create an enabling environment for sustainable private investment and a dynamic local market for industrial land.
The World Bank will provide $467 million (about Tk 3,970 crore) for the initiative under its Private Investment and Digital Entrepreneurship (PRIDE) project and the remaining Tk 380 crore will be borne by the government.
This project will help transform BSMSN into a global standard and sustainable industrial city, said Beza Executive Chairman Paban Chowdhury.
He said land of two of the 30 zones of the BSMSN have been allocated for the investors.