The zone is expected to boost international trade and foreign investment in a wide range of sectors Construction of Chinese economic zone begins after decade-long project delays Zone expected to attract $500 million in foreign investment Project aims to create over 100,000 direct and indirect jobs Chinese and Bangladeshi governments jointly fund major infrastructure development Zone targets export industries including textiles, pharmaceuticals, and information technology Strategic location strengthens Bangladesh-China trade and manufacturing cooperation After more than a decade of delay, construction of the long-awaited Chinese Economic and Industrial Zone (CEIZ) in Chattogram's Anwara is finally set to begin tomorrow.
Authorities expect the project to attract around $500 million in foreign direct investment (FDI) and create more than 1 lakh direct and indirect jobs.
Keep updated, follow The Business Standard's Google news channel The groundbreaking ceremony for the economic zone will be held at 10am at the project site in Anwara, marking the formal start of the construction of the zone's core infrastructure.
The government-to-government project is being developed on around 800 acres of land and is considered one of Bangladesh's flagship initiatives to deepen economic cooperation with China while expanding the country's export-oriented manufacturing base.
The project is expected to be completed by 31 December 2031.
Business leaders have welcomed the government's move to expedite the long-delayed project, saying it could significantly boost investment, employment, and industrial growth.
Amirul Haque, president of the Chittagong Chamber of Commerce and Industry (CCCI), hoped a dedicated economic zone for Chinese companies would further strengthen trade and economic partnership between the two countries.
"Besides creating employment opportunities, the zone will help expand international trade and attract more foreign investment," he told The Business Standard.