Govt woos foreign investors for N economic zone: Farhad Hossain

DEBIGANJ, PANCHAGARH, July 25:  The government is working to attract both local and foreign investment to accelerate industrialisation in the country's northern region, State Minister for Water Resources Farhad Hossain Azad said on Friday.

"The prime minister has given special emphasis to the development of the north. As part of that effort, we are bringing domestic and foreign investors to visit the Debiganj Economic Zone," he said after a Malaysian investor delegation visited the economic zone in Panchagarh's Debiganj Upazila.

The delegation, led by Malaysian investor Mr Sim, also held a courtesy meeting with the state minister before touring the site to assess investment opportunities, industrial prospects and employment potential.

Farhad said the government wanted industries to be established at the Debiganj Economic Zone to create jobs and improve the socio-economic condition of local people.

He said the Malaysian investors had expressed interest in setting up a 100-megawatt solar power plant as well as agro-based industries in the zone.

Speaking to reporters after the visit, Mr Sim described the Debiganj Economic Zone as a promising investment destination.

"We are initially assessing the feasibility of establishing a 100MW solar power project here. If implemented, the project will add renewable energy to the national grid," he said.

He also said the delegation saw potential for agro-based industries in the area.

Officials and stakeholders said the economic zone offers significant opportunities for industrial investment due to its road connectivity, easy access to agricultural raw materials and comparatively lower production costs. They said agro-processing, food processing and export-oriented industries could particularly benefit from the location.

Local residents expressed hope that the proposed investments would create employment opportunities for thousands of people in Debiganj and the wider Panchagarh District while accelerating industrialisation in the country's northern region.

According to the upazila administration, an agreement was signed on August 24, 2020, between the district administration and the Bangladesh Economic Zones Authority (BEZA) to establish the Debiganj Economic Zone.

The project was initially planned on 602.42 acres but was later revised to 250.85 acres. Of the total land, 240 acres have been allocated for the economic zone and 10.85 acres for an access road.

So far, 185.86 acres have been handed over to BEZA, while the acquisition process for the remaining land is underway.