Streamlined the establishment of economic zones within the country
23 Oct 2023
On October 23, 2023, the Government enacted the Economic Zones (Amendment) Bill 2023, aimed at facilitating the creation of economic zones through government-to-government collaborations. The revised statute now allows for the setting up of economic zones tailored for the information and communication technology (ICT) sector in city corporation jurisdictions, municipal areas, and cantonment zones. This amendment marks a significant shift from the previous regulation, which limited economic zone developments in these particular regions. The amendment was prompted by the interest expressed by various developed countries in forming specialized economic zones on a government-to-government basis within Bangladesh. The updated legislation is expected to accelerate the establishment of such zones, fostering economic growth.
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Type:
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Entry and establishment (Approval and admission)
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Promotion and facilitation (Special economic zones)
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Industry:
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