MoU signed for development of Chinese Economic & Industrial Zone in Bangladesh

DHAKA, Aug. 15 (Xinhua) -- The Bangladesh Economic Zones Authority (BEZA) and the China Road and Bridge Corporation (CRBC) have signed a memorandum of understanding (MoU) for the development of Chinese Economic and Industrial Zone in southeastern Bangladesh.

Under the MoU signed last Thursday, the Chinese company will develop the economic and industrial zone dedicated to Chinese investors at Anowara on the outskirts of Bangladesh's seaport city Chattogram, some 242 km southeast of the capital Dhaka.

Chinese Ambassador to Bangladesh Li Jiming attended the signing ceremony, saying that the zone, as the first industrial park built by Chinese enterprises in Bangladesh, is of landmark significance.

Li said that economic cooperation between China and Bangladesh enjoys a sound foundation and broad prospects, and China will continue to encourage Chinese enterprises to cooperate with their Bangladeshi counterparts in more areas.

The ambassador expressed hope that more Chinese enterprises could participate in building more industrial parks in the future and further deepen economic and trade cooperation between the two countries.

The economic and industrial zone covering 778 acres is expected to generate 30,000 jobs, according to BEZA Executive Chairman Shaikh Yusuf Harun.

He said the zone is fully dedicated to Chinese entrepreneurs and investors.

Chemical, automobile assembly, garments and pharmaceutical factories will be built in the economic and industrial zone.