The government of Bangladesh is set to give 500 acres of land within the SEZ in Mirersharai of Chittagong to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to enhance apparel exports. The Bangladesh Economic Zone Authority (BEZA), is set to sign a MoU with BGMEA. The Authority is of the view that this measure would incentivise garment makers garner $50 billion from export orders by 2021.

Paban Chowdhury, Executive Chairman, BEZA disclosed BGMEA has targeted apparel exports worth $50 billion by 2021. The government has decided to provide them the land so that they can set up new factories, create more employment and earn more from exports.

Chowdhury announced the BEZA was looking at providing BGMEA a further 1,500 acres of land inside the same zone and it would complete development inside the zone by this year and investors could start setting up factories by March next year. Investors will enjoy exemptions from VAT on electricity and taxes on sale and self-generated or purchased electricity for 10 years. All purchases, excluding petroleum products, will get VAT and sales tax exemptions, he added.

Siddiqur Rahman, President, BGMEA, says they would allocate the land for setting up garment and backward and forward linkage industries. Anyone from Bangladesh and abroad can purchase land at the zone for establishing garment factories.