Bangladesh reserves 3 SEZs for Indian enterprises

Bangladesh has reserved three special economic zones (SEZs) for Indian firms to set up businesses, high commissioner of Bangladesh to India Syed Muazzem Ali recently said at a meeting organised by the Southern India Chamber of Commerce and Industry (SICCI) in Chennai. India has recently invested $5 billion there for economic and technical development.

Though factors like non-availability of soft loans and a cumbersome process to select developers slowed down the progress of Bangladesh setting up country-specific economic zones, a considerable increase in foreign investment in the past year will boost this initiative now, a report in a top South Indian newspaper quoted the ambassador as saying.

Setting up a deputy high commission in Chennai is getting delayed as Bangladesh is awaiting clearance from the Indian ministry of external affairs.