Indian firm to be hired to develop 5 economic zones

Site development activities still seem to be far off because of the slower progress in the works
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The government is going to appoint an Indian advisory service firm for expediting the development and construction facilities in the five proposed Economic Zones (EZ), and to attract foreign as well as private sector investment.

Site development activities still seem to be far off because of the slower progress in the works.

The EZs – Mongla in Bagerhat, Anwara and Mirersorai in Chittagong, Moulvibaza in Sylhet and Sirajganj – will be developed on 8,827.99 acres of land, according to the BEZA website.

Apart from expediting the construction facilities, the firm will also carry out investment promotion activities to attract foreign and private investors to the economic zones under the World Bank’s project titled “Support to Capacity Building Of Bangladesh Economic Zones Authority, said a senior official of the Bangladesh Economic Zones Authority (BEZA).

The official also said the government agencies have failed to attract for foreign and local investors which is vital matter for the country like Bangladesh.

Principal Secretary to the Prime Minister’s Office (PMO) Abdus Sobhan Sikder yesterday sent a proposal to Bangladesh Economic Zones Authority for the appointment of a transaction advisory service firm.  The proposal is supposed to be placed before the cabinet committee on economic affair on Sunday next.

The evaluation committee for selecting consultant firm for the five proposed economic zones has initially selected a firm led by Price Water House Coopers private limited India (PwC) while the two other firms are Mahindra consulting engineers Ltd, India and Infrastructure Investment Facilitation Company Bangladesh with a cost of Tk19.99 crore.  PWC obtained highest number in terms of technical and financial evaluation.

WB’s financial wing International Development Association has already endorsed the proposal sent by the PMO.

WB-supported project titled “Support to Capacity Building Of Bangladesh Economic Zones Authority” has already started and it will be completed by June 2016 with a cost of Tk76.20 crore.

As per the PMO proposal, consultant firm will be assisting the authority to identify the industry, which will suitable for the Economic Zones. It will also prepare contractual schemes for Private-Public Partnership projects.

Appointment firm will be responsible for selecting the private developers for the construction of the five zones.

According to the proposal, the firm will also develop one-stop service of the five EZs with the assisting in developing customer relationship management package.

Earlier, the governing body headed by the prime minister approved five sites in 2012 for constructing the first-ever economic zones in the country.

And, so far, the authorities concerned have issued only request for proposals (RFP) for Mongla site. The site with the land area of 205 acres belongs to BEZA. BEZA purchased the land from the Mongla Port Authority.

The developers, selected after expression of interest, will construct necessary infrastructures on the Mongla site and they will invite investors for setting up plants in the zone.

Source: Dhaka Tribune

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