DHAKA: The cabinet on Monday gave its final approval to the draft of Bangladesh Economic Zones Act (Amendment), 2015 keeping a provision to set up economic zones in the country through G2G method.

Prime Minister Sheikh Hasina presided over the meeting at the secretariat in city.

This amended Act would help setting up Information and Communication Technology (ICT) industries in city corporation, municipality and cantonment board areas.

Cabinet secretary Mosharraf Hossain Bhuiyan said to the journalists that Bangladesh Economic Zones Act, 2010 had provisions to set up four types of economic zones -- government, private, public-private partnership and special economic zones.

“It did not have provisions to help setting up economic zones in the G2G level,” he added.

He further said, “During her visits, several countries expressed their interests to our premier about setting up economic zones. This is why we have kept the provision.”

A committee, to be ruled by the Act, will be constituted to set up G2G economic zones, the secretary added.

He mentioned that the Bangladesh Economic Zones Act, 2010 said no economic zone shall be declared on any land within city corporation, municipality and cantonment board areas.

However, as per the amended Act, only ICT industries can be set up within these areas as investors in this sector are reluctant to go to the remote areas.

BDST: 1904 HRS, JUN 01, 2015
SR/RR/SMS