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Published : 09 Apr 2025, 11:17 PM
Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud bin Harun has announced plans to establish a free trade zone around the country’s deep-sea port in Matarbari, located along the coast.
This initiative is being discussed in collaboration with DP World, a prominent Middle Eastern company that currently operates a free trade zone around the Jebel Ali Port in the UAE.
Speaking at a press conference on the third day of the four-day investment summit at the Hotel InterContinental Dhaka, Ashik shared details of the ongoing discussions.
He revealed that DP World, renowned for its operations at Jebel Ali, has come forward to assist in developing similar economic zones in Bangladesh.
“The third day of the summit featured a session with DP World. Sultan Ahmed bin Sulayem, chairman of DP World, is a significant entrepreneur in the Middle East. We are planning a long-term collaboration with them,” Ashik said.
He explained that the plans are focused on the Maheshkhali area, which is close to the deep-sea port at Matarbari.
“We are considering setting up a free trade zone near the Matarbari deep-sea port, much like the Jebel Ali Port in the UAE, which contributes 25 percent to their economy. DP World will provide technical and other forms of support in this venture,” Ashik added.
A team from Bangladesh will soon visit the UAE to study how the free trade zone operates, with plans to learn from the successful model at Jebel Ali.
During the summit, Chief Advisor Muhammad Yunus also participated in a session with young entrepreneurs, facilitated by UNDP and Grameenphone.
Later, he held several meetings with foreign investors.
Ashik highlighted the importance of these bilateral meetings, with participation from key government figures.
The meetings focused on addressing the needs of investors and providing them with a comprehensive view of the opportunities in Bangladesh.
The BIDA chairman also noted the increasing interest from foreign investors, saying: “The CEO of Inditex, the parent company of Zara, visited Bangladesh for the first time today. His perspective is that without coming here, much about Bangladesh would remain unknown. The story of Inditex mirrors that of Bangladesh’s.”
Ashik also said the UK Trade Team's unwavering support for the interim government and its vision for 2035, with particular interest in investing in the education and healthcare sectors.
