The government has issued an ordinance to develop Maheshkhali in Cox’s Bazar as a major industrial and commercial hub, aiming to attract both domestic and foreign investment.

The initiative includes the establishment of the Matarbari deep-sea port, as well as other large-scale infrastructure projects.

The ordinance, published on Wednesday, outlines the formation of the Maheshkhali Integrated Development Authority (MIDA), which will oversee the planning, coordination, and implementation of development activities in the area.

MIDA will be responsible for preparing a master plan to transform the island into a seaport-linked industrial zone, modern township, and commercial centre.

The area will be divided into several functional hubs, including a port and logistics hub, industrial and manufacturing zones, a power and energy cluster, and a fisheries processing centre. These will be supported by township and ancillary service hubs.

To encourage investment, MIDA will introduce a one-stop service platform integrated with the Bangladesh Investment Development Authority’s system.

The authority will also prepare investment incentive guidelines, facilitate environmental approvals, and provide dedicated port and customs facilities.

Industries operating within the zone may be eligible for bonded warehouse benefits and customs privileges.

The ordinance also mentions that MIDA will offer incentives similar to those granted under the export processing zone framework to promote export-oriented industries.