On August 1, the Japan International Cooperation Agency (JICA) signed an investment agreement with Bangladesh SEZ Ltd (BSEZL) of the People’s Republic of Bangladesh. Sumitomo Corporation and Bangladesh Special Economic Zones Authority (BSEZA) are the major shareholders of BSEZL.
Bangladesh, with a population of 170 million and an average age of 27.6 years, is attracting attention as a production base with an abundant labor force and a new major consumer market, and many foreign companies, including Japanese companies, have been expanding into Bangladesh in recent years. BSEZL, established in 2019 as a joint venture between Sumitomo Corporation and the Bangladesh Special Economic Zone Authority (BSEZA), is currently developing industrial land, and sales of industrial land will commence at the end of March 2022. This project will support industrial upgrading and industrial diversification in Bangladesh by promoting the development and sales of the BSEZ through investment in BSEZL and attracting investment in the BSEZ from Japanese and other foreign companies. JICA has developed the infrastructure (roads, electricity, gas, etc.) around BSEZ through yen loans granted since 2015, and also provided back-financing for the investment in BSEZL by the Bangladesh Special Economic Zone Authority. In addition, through a yen loan provided since 2015, BICA has provided back-financing for the BSEZL portion of the project, and since 2017 has supported the establishment of a one-stop service system through technical cooperation.
© Source JICA