Bangabandhu Hi-Tech City Explained

Bangabandhu Hi-Tech City (BHTC) is a business park in Kaliakair of Gazipur District, Bangladesh. Originally called Kaliakoir Hi-Tech Park, after the municipality in which it is located, it was renamed in June 2016 to honor the founding father of Bangladesh Sheikh Mujibur Rahman.[1] Many companies have invested in this sector.[2]

History

The hi-tech park was formally proposed in June 1999 at a meeting of the Board of Investment. A feasibility study was conducted in 2001 by the Bangladesh University of Engineering and Technology.[3] A boundary wall was constructed in 2008.[4] A further assessment was performed by PricewaterhouseCoopers in 2009. It said that one advantage of the location was that land acquisition was complete.[5] In 2010, the Bangladesh Hi-Tech Park Authority (BHTPA) was formed to regulate and operate hi-tech business parks in the country.

By June 2015, the authority had awarded contracts for basic infrastructure. One of two parts of a bypass road for local residents was complete, as was an internal access road. Construction had begun on sewer lines and a sewage treatment plant; the boundary wall was being extended to enclose an expected expansion, and replaced where it had been demolished during other construction; installation of street lighting was underway; and refurbishment of a three-storey building built in 2009 but not yet occupied was in progress.

The original site is divided into five blocks. Block 1 is reserved for government use. Blocks 2 and 5 are being built by Summit Technopolis, a joint venture between Summit Group of Bangladesh and Infinity Infotech Parks of India. Bangladesh TechnoSity is developing Block 3.[6] As of 2020, Block 4 has not been awarded. Summit Technopolis broke ground on their portion on 28 February 2016. By June of that year, the project had been expanded to .

Economy

The government offers various incentives to attract investors and tenants, such as tax breaks and exemptions on import duties.[7] [8]

As of November 2020, five companies are manufacturing in the park, employing 13,000 workers.[9] Hyundai Motor Company has a manufacturing plant in this city.[10]

Notes and References

  1. News: Kaliakoir hi-tech park renamed . The Daily Observer . UNB . 1 June 2016.
  2. News: 29 February 2016 . Summit Technopolis begins building hi-tech park . The Daily Star.
  3. July 2002 . Project Formulation Study for the Establishment of Hi-Tech Park at Kaliakoir, Gazipur . Bangladesh University of Engineering and Technology . 1.
  4. Web site: Support to Development of Kaliakoir Hi-Tech Park Project: Progress Report (July 2014-June 2015) . Bangladesh Hi-Tech Park Authority . 17–18 20–23 25–26.
  5. Web site: Bangladesh Private Sector Development Support Project – Economic Zones Development Assignment . August 2009 . PricewaterhouseCoopers . 21 . Bangladesh Hi-Tech Park Authority.
  6. Web site: 2015-08-12 . TechnoSity to invest $25.8m in hi-tech park . 2021-03-16 . The Daily Star . en.
  7. News: NBR widens tax waiver for investors in hi-tech parks . New Age . 7 December 2018 . en.
  8. Web site: Hi-Tech Park - Prospective Gateway of Investment & Employment . 10 April 2019 . Bangladesh Hi-Tech Park Authority.
  9. News: 37 companies get land allotment at Bangabandhu Hi-Tech City . . Dhaka . 2 November 2020.
  10. News: 2 December 2022 . ‘মেড ইন বাংলাদেশ’ হুন্দাই রাস্তায় নামছে আগামী বছর . "Made in Bangladesh" Hyundai to hit the streets from next year . 4 December 2022 . . bn.