Establishment of Korea industrial complex to begin next year

DHAKA As per the requirement of Korea Industrial

Complex (KIC) Company Limited, Bangladesh Economic Zones Authority (BEZA) is

likely to hand over land in January next year for setting up Korea industrial

complex in the country.

KIC has submitted proposal for over 500 acres of land in the Bangabandhu

Sheikh Mujib Shilpa Nagar (BSMSN), at Mirsarai, Sitakundu and Sonagazi

upazillas under Chattogram and Feni districts for setting up the industrial

complex.

Talking to BSS, KIC Chief Executive Officer (CEO) Bae Ho Cho said Korean

companies are showing keen interest to set up factories in Bangladesh in line

with the investment-friendly environment and policy supports of the

government.

We want to start land development works from next year, if the

government and BEZA help us secure the land and if we can complete other

procedures, including feasibility study, he said.

He said at least 100 Korean companies of different sectors, including

machinery, construction materials, electric and electronic, chemical, metal

machine, cloth processing and medical equipment, will set up their factories

in the industrial complex

We have submitted a draft proposal to BEZA for setting up the

industrial complex. We will start land development works from middle of the

next year if the government and BEZA help us secure the land and we can

complete other procedures, including feasibility study, he said.

Expressing satisfaction over the cooperation of BEZA officials, he said,

KIC is going to establish the industrial complex to set up a foundation for

regional industries and to stimulate the local economy through job creation

and boosting income.

Bae Ho Cho sought more infrastructure and power supports from the

government to establish the industrial complex and bring more Korean

investment in the country.

Korea and Bangladesh established friendly relations through a mutual

agreement of economic cooperation and the formation of Korea-Bangladesh Joint

Committee. KIC wants to develop a large-scale growth oriented industrial

complex in the country, he added.

He informed that they have visited the project site in BSMSN which is

situated in Bay of Bengal and convenient to transport freight by a water

channel. The infrastructure is well furnished such as roads, railways,

electricity and water supply and continues to expanded, he said.

For accelerating the process of establishing the industrial complex, a

five-member delegation, led by KIC CEO Bae Ho Cho, on Sunday met BEZA

executive member (additional secretary) Mohammed Ayub at BEZA office in the

city.

Referring to the meeting, Mohammed Ayub said BEZA is likely to hand over

the land for establishing the industrial complex in January.

Initially, KIC has submitted proposal for over 500 acres of land which

will be extended around 2000 acres in future, he added.

Source: Bangladesh Sangbad Sangstha (BSS)