ECNEC likely to approve Tk4,189cr Chinese Economic Zone today

A long-awaited project to establish a dedicated Chinese Economic Zone (CEIZ) in Chattogram’s Anwara is expected to receive final approval from the Executive Committee of the National Economic Council (ECNEC) today, potentially ending nearly a decade of delays surrounding one of Bangladesh’s most significant foreign investment initiatives.

The Tk4,189.46 crore project was placed before ECNEC on 9 July but was deferred for further scrutiny. Following additional review, officials now expect the proposal to secure approval.

A senior official of planning ministry told the Daily Sun that concerns raised during the previous review have been addressed, paving the way for clearance.

The proposed zone, located on nearly 800 acres beside the Karnaphuli Tunnel and close to Chattogram port, is expected to attract more than US$1 billion in investment and generate around 100,000 direct and indirect jobs.

Former Bangladesh Bank chief economist Mustafa K Mujeri said the project could deliver substantial economic benefits by attracting Chinese manufacturers seeking alternative production locations.

However, he stressed that quick implementation and efficient support services would be critical to its success.

Bangladesh-China Chamber of Commerce and Industry (BCCCI) President Mohammad Khorshed Alam said the zone could attract investment in garments, electronics, mobile phone assembly, footwear, light engineering and sports goods manufacturing.

He emphasised the need for uninterrupted utility services to retain investors.

Under the proposal, the government will provide Tk1,722.20 crore, while Tk2,467.26 crore will come through Chinese preferential buyer’s credit. Planned infrastructure includes roads, bridges, power transmission facilities, gas and water connections, a central effluent treatment plant, a multipurpose jetty and other industrial utilities.

Officials say approval would remove a major bottleneck that has delayed the project since Chinese President Xi Jinping’s visit to Bangladesh in 2016. Although land acquisition was completed years ago, procedural complications, contractor-related issues and repeated revisions slowed progress.

BEZA Executive Member (Planning and Development) Md Nazrul Islam said more than 100 Chinese companies have already expressed interest in investing. Prospective investors include firms in leather, medical equipment, chemicals and light engineering, with authorities seeking to develop a diversified industrial hub rather than one dominated by a single sector.

Policymakers believe the project could help transform Bangladesh’s trade and investment landscape by attracting higher-value manufacturing and expanding the country’s export base.