National Budget 2023-24Govt eyes raising export earnings by $40 billion thru economic zones

Finance Minister AHM Mustafa Kamal today said the government is eyeing to boost export earnings by around $40 billion through the establishment of 100 economic zones across the country.

"I hope that when all the economic zones are operational, there will be an additional export of products from the country equivalent to US$ 40 billion," he said.

The minister said this while placing a Taka 7.61 lakh crore national budget for FY23-24 in the Jatiya Sangsad here.

Kamal said the government is working to establish 100 economic zones to attract domestic and foreign investment and provide employment to one crore people.

"In the economic zones, facilities such as undisputed land, improved infrastructure, uninterrupted utilities, financial incentives and simplified business processes are provided through the one-stop service centre. It has already been decided to establish customs offices in the Economic Zones to simplify export import process," he added.

So far, he said, 97 economic zones have been approved, 187 enterprises in 29 zones have been allocated land, 38 enterprises have started operations, and 70 are under construction.

"Total investments have already reached US$ 23 billion. It is worthy of note that Bangabandhu Sheikh Mujib Industrial City is being established on 33 thousand acres of land, which will be the largest industrial city in South and Southeast Asia," he added.

Besides, he said, Japan Economic Zone is being built with partnership between the governments of Bangladesh and Japan, and setting up an Indian Economic Zone on 856 acres of land is underway to attract Indian investors as well.

Furthermore, he said, the process of setting up a Chinese Economic and Industrial Zone on 783 acres of land at Anwara in Chattogram is ongoing.