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Cox’s Bazar: Potential Economic Booster

Published: 27 Feb 2024

Cox’s Bazar: Potential Economic Booster
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Cox’s Bazar, a coveted destination for many, is the southeastern district of Bangladesh. Outstanding infrastructural development work is going on here keeping in mind a grand philosophy and plan. Maheshkhali is located in Cox’s Bazar District and the biggest construction project is taking place in this very area. Matarbari and Dhalghat unions were not that known previously and they were rather infamous for being cyclone and tidal prone areas.

There was nothing more than the submerged lagoons and vast expanses of salt fields. Now, however, millions are being invested here for very valid reasons. The trans-shipment port of the region and the only deep-sea port of the country are being built here. The need for an additional deep-berthing terminal was long overdue in the country. In view of that, the issue of a deep-sea port came for discussion during the tenures of various governments.

Fortunately, and fittingly for the country, Japan came up with the ‘Big B’ concept. The Japanese government proposed the Bay of Bengal Industrial Growth (BIG-B) initiative, also known as BIG-B, focusing on Bangladesh. The biggest Matarbari power project in the history of the country is being built under this initiative.

It is one of the three main pillars of Big B. This strategic plan involves integrated development activities in the region, including power, energy, ports, communications and industrial areas. In 2014, the Prime Ministers of Bangladesh and Japan jointly announced the ‘Big B’ initiative.

To turn it into a reality, the Japan International Cooperation Agency (JICA) surveyed in 2016 and suggested the construction of a port in Matarbari. Although 92% of the total foreign trade is handled through the busiest Chittagong Port, ships from this port have to use trans-shipment ports of other countries since big ships cannot come to Chattogram.

Notably, Matarbari is a deep-sea port where ships with a draft of 16-18 meters will be accommodated. That is why even the biggest ships will be able to anchor in this port. The port is expected to be operational by 2026-27. If more goods arrive together on large ships and direct goods are sent, the waiting time of the ships at the port will be reduced substantially.
Moreover, Bangladesh, itself, will own a trans-shipment port. As Matarbari deep-sea port will be a regional port, like other ports of Bangladesh, neighbouring countries will also be able to use it in their import and export activities.

In fact, Maheshkhali’s Matarbari, once a nonentity, is going to become Bangladesh’s ‘Power and Port Hub’ through the implementation of deep-sea port and coal-based power projects. Gradually, Matarbari will also be connected by water, land and rail.

Cox’s Bazar is a land of boundless natural beauty. The longest beach in the world is now also connected by rail. Thus, connectivity with the tourist city will no longer depend on roads alone. There is also a big development project in the airspace. The largest runway in the country has been constructed here.

Tourists, traders and investors from different countries can now directly come and go to Cox’s Bazar via Cox’s Bazar International Airport. As a fuel hub, flights plying on international routes will be able to land here to take fuel. Cox’s Bazar Airport will, thus, become a transit point for passengers from different countries.

The development of tourism and trade centring on deep-sea ports has enormous potential. On top of exploiting the tourism potential, the government is implementing a master plan around Cox’s Bazar to build it on the model of island-based economic hubs of Singapore and Hong Kong.

Among the ongoing mega projects around Cox’s Bazar, airport, railway line, 1200 MW power plant, SPM project, Sabrang Tourism Park and economic zone will change the whole gamut of Cox’s Bazar. Maheshkhali Economic Zone will be transformed into an island-based commercial centre once the Matarbari deep-sea port is operational.

In the remote island of Cox’s Bazar, Matarbari, four power plants with a power generation capacity of 3600 MW, land-based LNG terminal, establishment of four special economic zones and the installation of single point mooring (SPM) with the double pipeline are underway for necessary infrastructural development.

Admittedly, the region has already become an attractive centre for investors from various countries, including Japan, China and India. Construction of three tourism parks in Sabrang, Naf and Sonadia is also underway to woo foreign investment in Cox’s Bazar for tourism and to ensure various facilities as per the desires of the foreign businessmen.

Notably, as many as 77 projects, including 25 mega projects across Cox’s Bazar, are underway in full swing. These will dramatically change the landscape of the whole region. The entire area from Sabrang to Matarbari will be transformed completely within the next few years. If things can proceed as planned with sincerity from all fronts, Cox’s Bazar will become the business hub of South Asia aiding the national economy greatly.
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The writer is a Professor, Department of Public Administration, University of Chittagong. Email: [email protected]

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