Chinese company to set up SEZ in Bangladesh

China Harbour Engineering Company (CHEC) has signed a shareholders' agreement with Bangladesh Economic Zones Authority (BEZA) to develop an economic and industrial zone for Chinese investors in the southern part of Bangladesh.

The zone will be built on a 783-acre land in Anwara, right outside Bangladesh's seaport city of Chittagong, some 242 km southeast of capital Dhaka.

The Special Economic Zone (SEZ) will focus on manufacturing pharmaceuticals and medical instruments, garments, electronics and telecommunication and IT-related products.

BEZA Executive Chairman Paban Chowdhury (3rd, Left) and CHEC Vice President Xiong Shengquan (4th, Right) signing the agreement on June 15, 2017

“It is for the first time that a foreign company is going to set up a SEZ in Bangladesh on G to G basis. The main work on project will begin in December this year,” said Executive Chairman of BEZA Paban Chowdhury, who signed the agreement with CHEC Vice President Xiong Shengquan.

A Memorandum of Understanding (MoU) was inked between the two sides during Prime Minister Sheikh Hasina's visit to Beijing on June 11, 2014.

According to the agreement, the Chinese side will finance infrastructure construction as well as the water treatment plant and electric power distribution.

(CGTN)