The Bangladesh Economic Zones Act of 2010 created the Bangladesh Economic Zones Authority (BEZA) under the
Prime Minister's Office. It was intended to accelerate economic growth by overseeing the development of 100 new
economic zones by 2025. In contrast to the
export processing zones operated by the Bangladesh Export Processing Zones Authority (BEPZA), which are publicly owned, the new zones were to be funded mainly by private capital and were to allow production for both export and domestic markets.[1][2] Financial incentives such as exemptions from various taxes and customs and excise duties were intended to lure investors.[2] Finance minister
AMA Muhith projected in June 2015 that the economic zones would create 10 million jobs.[3]
BEZA's management structure consists of a governing board, executive board and BEZA secretariat.[8] The chairman of the governing board is the
prime minister and members include the governor of
Bangladesh Bank, the
finance minister and other high-level ministers and elected policymakers.[9] The governing board is responsible for overall policy decisions.[9] The executive board includes bureaucrats from
Government of Bangladesh.[8]
The authority has recently approved 37 new economic zones, which consists of governmental, non-governmental and specialized economic zones. The government also announced 50pc tax relief in hi-tech parks and economic zones.[11]
Mirsarai EZ (1st phase): The Powerpac-East West –Gasmin JV is the developer for this zone
Mongla EZ: Mongla EZ is the first PPP EZ in Bangladesh. The developer of first PPP EZ are PowerPac-PPMKPPL JV
Science and technology-based economic zones
The government is establishing science and technology-based economic zones to attract foreign direct investment. Some projects like
Bangabandhu Hi-Tech City is being helped by
World Bank and
DFID.[14]
Barisal high tech park (land acquiring)
Chittagong high tech park (land acquiring)
CUET IT business incubator centre, Chittagong (under construction)
Dhaka high tech park (proposed)
Janata tower Software Park (completed)
Jashore Software Technology Park (operation)
Kaliakoir high tech park (block development ongoing)
Keranigonj Special IT Economic Zone, Dhaka (under construction)