Bangladesh has scaled back its ambitious plan to establish 100 economic zones (EZs) by 2030, according to government officials.

Instead, five key zones will be prioritized to maximize foreign investment and economic impact.

The Bangladesh Economic Zones Authority (BEZA) initially planned to develop 100 EZs to drive economic growth and employment, with expectations of creating 10 million jobs and generating $40 billion in exports. However, only a fraction of this vision has materialized since the initiative was announced in 2010.

BEZA Executive Chairman Ashik Chowdhury confirmed that efforts will now be concentrated on five zones: the National Special Economic Zone in Chattogram, the Srihatta Economic Zone in Sylhet, the Japanese Economic Zone in Narayanganj, the Maheshkhali Economic Zone in Cox’s Bazar, and the Jamalpur Economic Zone in Jamalpur. All are currently under development.

“Our commitment is to ensure that these zones are equipped with the necessary infrastructure and utility services,” Mr. Chowdhury stated. He assured that water, electricity, gas, and road connectivity will be established within the next two years.

The Mirsharai Economic Zone, also known as the National Special Economic Zone, has made significant progress, spanning 33,800 acres across Chattogram and Feni. Several factories commenced trial production in 2022, with five in full commercial operation by September 2023.

Established in 2010 under the Prime Minister’s Office, BEZA aimed to develop EZs through both public and private initiatives. Investment incentives include tax exemptions, customs duty relief, work permits, and potential residency or citizenship recommendations.

Following the enactment of the BEZA Act in 2010, no new export processing zones (EPZs) were established, leaving Bangladesh with its existing eight EPZs.