Four companies have begun infrastructural developments in Shreehatta Economic Zone under Moulvibazar district on Thursday with a pledge to invest $118 million.
This is expected to generate over 5000 employments in the country.The companies are: Ayesha Clothing, Aswad Composite Mills of Palmal Group, Double Glazing and Great Wall Limited.
Bangladesh Economic Zones Authority (Beza) Executive Chairman Paban Chowdhury presided over the scaled inaugural ceremony at Shreehatta Economic Zone while Moulvibazar Deputy Commissioner Mir Nahid Ahsan was, among others, also present in the meeting.
Shreehatta Economic Zone is located on 352 acres of land in Sherpur area of Moulvibazar.
The government has taken the Shreehatta EZ project for decentralization of industries and generating employments for 44,000 people.
There were allocated 231 acres of land against six companies which pledged to invest $1.4 billion.
In first phase, the four companies have begun construction activities and the remaining two companies – Abdul Momen Limited and Flamingo Fashions from DBL Group – have planned to build the industries within this year.The constructions of connecting roads and utility connections have been completed, according to the officials.
Addressing the inauguration meeting, Paban Chowdhury expressed hopes that the Shreehatta EZ will contribute to the country’s economy as first economic zones from Sylhet.
“With patronage from the Beza, different areas of the country will be connected to the national economy,” he said.
It’s proven that the Bangladesh is capable of developing investment-friendly environment.
The country will get the ultimate result of the industrialization and the livelihood of the people will be improved apart from achieving development targets,” Paban Chowdhury said.
He urged the investor companies to begin recruitment of workforce soon to address the challenges of the pandemic.
Palmal Group Director KM Mahtab Uddin said, “The company is happy to construct the infrastructure first which is expected to complete by mid of next year.”
Great Wall Ceramics executive director Md. Khalequzzaman said the companies will maintain “cent percent compliance for modern ceramic industries.”
“The company will invest Tk 8 billion creating 2,000 employments,” he said.
Double Glazing managing director Barrister Mainul Islam said the company “will focus on environmental balance manufacturing cent percent energy efficient products.”
The Shreehatta EZ is located 40 km away from Sylhet city and 208 km from Dhaka.