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.