Establishment of Korea industrial complex to begin next year

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DHAKA, Dec 2, 2019 (BSS) – As per the requirement of Korea Industrial
Complex (KIC) Company Limited, Bangladesh Economic Zones Authority (BEZA) is
likely to hand over land in January next year for setting up Korea industrial
complex in the country.

KIC has submitted proposal for over 500 acres of land in the Bangabandhu
Sheikh Mujib Shilpa Nagar (BSMSN), at Mirsarai, Sitakundu and Sonagazi
upazillas under Chattogram and Feni districts for setting up the industrial
complex.

Talking to BSS, KIC Chief Executive Officer (CEO) Bae Ho Cho said Korean
companies are showing keen interest to set up factories in Bangladesh in line
with the investment-friendly environment and policy supports of the
government.

“We want to start land development works from next year, if the
government and BEZA help us secure the land and if we can complete other
procedures, including feasibility study,” he said.

He said at least 100 Korean companies of different sectors, including
machinery, construction materials, electric and electronic, chemical, metal
machine, cloth processing and medical equipment, will set up their factories
in the industrial complex

“We have submitted a draft proposal to BEZA for setting up the
industrial complex. We will start land development works from middle of the
next year if the government and BEZA help us secure the land and we can
complete other procedures, including feasibility study,” he said.

Expressing satisfaction over the cooperation of BEZA officials, he said,
KIC is going to establish the industrial complex to set up a foundation for
regional industries and to stimulate the local economy through job creation
and boosting income.

Bae Ho Cho sought more infrastructure and power supports from the
government to establish the industrial complex and bring more Korean
investment in the country.

“Korea and Bangladesh established friendly relations through a mutual
agreement of economic cooperation and the formation of Korea-Bangladesh Joint
Committee. KIC wants to develop a large-scale growth oriented industrial
complex in the country,” he added.

He informed that they have visited the project site in BSMSN which is
situated in Bay of Bengal and convenient to transport freight by a water
channel. “The infrastructure is well furnished such as roads, railways,
electricity and water supply and continues to expanded,” he said.

For accelerating the process of establishing the industrial complex, a
five-member delegation, led by KIC CEO Bae Ho Cho, on Sunday met BEZA
executive member (additional secretary) Mohammed Ayub at BEZA office in the
city.

Referring to the meeting, Mohammed Ayub said BEZA is likely to hand over
the land for establishing the industrial complex in January.

“Initially, KIC has submitted proposal for over 500 acres of land which
will be extended around 2000 acres in future,” he added.

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