Pursuant to the decision of the 46th Session of the D-8 Commission held in Istanbul on 15-16 February 2023, the Bangladesh Economic Zone Authority (BEZA) organized a virtual meeting on the establishment of the D-8 Special Economic Zone in Bangladesh on 31 July 2023.

In a presentation by the Bangladesh Economic Zones Authority (BEZA), Dr. Sheikh Mohammad Zubair provided an overview of the investment climate in Bangladesh. The country currently has 97 approved zones sites, with 10 zones in commercial operation and 30 under construction. BEZA aims to establish 100 Free Economic Zones (FEZ) by 2041, generating 10 million jobs and targeting exports and production of $40 billion.

Key achievements of BEZA include delivering 125 services through the One Stop Service Centre, with 48 available online. There are 29 industrial units in operation and 39 in the construction stage, supported by a Land Bank of over 61,000 acres. Investors have been allocated 6,625 acres of land in 97 Economic Zones, with 185 investors involved.

Dr. Zubair invited investors to various economic zones, emphasizing that most zones have essential infrastructure such as electricity, road networks, and gas pipelines. BEZA collaborates with development partners like the World Bank, International Finance Corporation, Asian Development Bank, and Japanese International Cooperation Agency.

The presentation also discussed the Proposed D-8 Special Economic Zone (SEZ) in Bangladesh. Potential sites include Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN), Kurigram, Panchagarh, and Kushtia. The SEZ will follow a Government-to-Government model, with private sector participation requiring government nomination. The D-8 Secretariat is expected to lead, coordinate, and facilitate various aspects, including developer selection, off-site infrastructure financing, investment promotion, and overall coordination.

BEZA’s role in the D-8 SEZ involves allocating land, establishing off-site infrastructure, providing support through Bangladesh’s OSS Center, facilitating equity shareholders, and formulating agreements. The proposed financial model includes equity shareholding, a 50-year land lease with upfront payment, profit/loss sharing, and sharing of assets and liabilities for ventures within the SEZ.