Free Trade Zone to be established on 400 acres of land in Anwara
Chattogram Bureau
The Bangladesh Investment Development Authority (BIDA) has planned to establish a Free Trade Zone (FTZ) on 400 acres of land in Anwara, Chattogram.
BIDA Chairman Ashik Chowdhury said, this initiative will act as a "Game-Changer" for the country's economy.
After visiting the potential site near the Karnaphuli Tunnel area on Thursday, he shared this information with journalists.
The BIDA Chairman explained, "A Free Trade Zone is similar to foreign territory. Foreign companies will be able to set up factories here and send products abroad.
They will be able to operate without the usual bureaucratic hassles. This will benefit both parties by utilizing the country’s vast labor force."
He further mentioned that the location in Anwara has been considered due to its proximity to Chattogram’s seaport and airport. "We are currently looking for suitable land for this region. The site we visited today is part of our initial consideration," Ashik Chowdhury added.
He also stated that a national committee has already been formed to develop the framework for the Free Trade Zone.
This committee is in discussions with internationally experienced managers and is conducting feasibility studies.
After evaluating the site, the committee will advise us on where to establish the zone.
We aim to make significant progress on the project by the end of this year, meaning we will make final decisions on the location, management, and timeline, the BIDA chairman concluded.
