Bangabandhu Sheikh Mujib Shilpa Nagar Explained

Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) is an economic zone in Chittagong Division of Bangladesh, spanning 33407acres. Situated along the DhakaChittagong highway, the economic zone is positioned about away from the port city of Chittagong. It is being developed under the oversight of the Bangladesh Economic Zones Authority (BEZA).[1] By 2024, various companies have collectively invested billion, with five industrial units already operational.

Geography

The industrial city is under development on approximately 33407acres[2] of land spanning three upazilas (sub-districts): Mirsarai and Sitakunda in Chittagong District, and Sonagazi in Feni District, formed from consolidating their respective economic zones.[3] [4] It is situated at the mouth of the Feni River, along of coastline of Sandwip channel in the Bay of Bengal.[5] of land have already been acquired by the BEZA by June 2024.

Development

The project is estimated to require a total investment of crores for construction. The World Bank has provided a loan of, while the remaining is being funded by the government. The objective of the project is to transform the industrial city into a self-sustaining, globally competitive industrial hub, complete with seaports, railway and road networks, power facilities, waterfront promenades, and residential zones. Additionally, plans include the establishment of five-star hotels, tourist destinations, parks, healthcare facilities, educational institutions, and universities within the area.

, five industrial units are in commercial operations in the economic zone, with 22 more under construction.[6] [7] Approvals have been granted for 152 units within the zone, allocating over 5251acres acres of land to companies that are collectively investing billion. These companies have proposed investments over billion, anticipating the creation of employment for 775,228 people. A $1.13 billion project is also planned to improve multimodal logistics by 2030.

Industries

The project area encompasses several specialized zones, notably a 500-acre zone designated for the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Additionally, various other industries are planned to be established within the region, including agro-products and agro-processing machinery, integrated textiles, leather and leather products, shipbuilding, motorbike accessories, food and beverages, paints and chemicals, paper and related products, plastics, light engineering, and pharmaceutical industries.

Issues

As of February 2024, investors in the economic zone face gas and water shortages, hindering industrial operations. A project to address water scarcity from the Meghna River is underway, expected by 2027.[8] Entrepreneurs in the industrial city also struggle with recruitment, primarily due to housing and transportation issues, exacerbating the scarcity of labor.[9]

See also

External links

Notes and References

  1. Web site: 2023-03-18 . Bangabandhu Sheikh Mujib Shilpa Nagar: A Big Step to Economic Development . 2024-02-27 . Daily Sun . en.
  2. Web site: Saif . Saifuddin . Rayhan . Jahir . 2024-06-13 . $1.13b project planned to boost logistics at Bangabandhu Shilpa Nagar . 2024-06-13 . The Business Standard . en.
  3. Web site: 2018-09-27 . 3 economic zones in Chittagong to be consolidated and renamed after Bangabandhu . 2024-02-27 . Dhaka Tribune.
  4. Web site: Milad . Masud . 2021-08-31 . উৎপাদন শুরুর অপেক্ষায় দেশি–বিদেশি উদ্যোক্তারা . Domestic and foreign entrepreneurs await the start of production . 2024-06-30 . Prothom Alo . bn.
  5. Web site: 2021-07-31 . Dhaka receives $20.13b investment proposals from 153 investors . 2024-02-27 . Prothom Alo English . en.
  6. Web site: Authority eyes investment influx in Mirsarai EZ as facilities readied . 2024-02-27 . The Financial Express . en.
  7. Web site: Factories start commercial production in Bangabandhu Shilpa Nagar . 2024-02-27 . The Financial Express . en.
  8. Web site: Chakma . Jagaran . 2024-02-08 . Investors in Bangabandhu Shilpa Nagar grapple with water crisis . 2024-06-30 . The Daily Star . en.
  9. Web site: Hossain . Iqbal . 2024-02-24 . যে কারণে মিরসরাইয়ের বঙ্গবন্ধু শেখ মুজিব শিল্পনগরে শ্রমিকসংকট . Reason Mirsarai's Bangabandhu Sheikh Mujib Economic Zone is facing a labour shortage . 2024-06-30 . Prothom Alo . bn.