ADB report on economic corridor later this month

Dhaka,  Tue,  30 May 2017
Published : 16 May 2017, 22:14:57
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ADB report on economic corridor later this month

FE Report


The Asian Development Bank's (ADB) study report on the economic corridor is at the final stage, which is expected to be submitted to the government later this month.

This was disclosed at a meeting between an ADB delegation on economic corridor and Bangladesh Investment Development Authority (BIDA) executive chairman Kazi M Aminul Islam Tuesday at the BIDA office in the city.

ADB Bangladesh mission's staff consultant Mohammad Zahid Hossain, Barun Dey and Anindya Mallick of Deloitte Touche Tohmatsu India LLP were present in the meeting on behalf of the ADB.

BIDA is supposed to cooperate with institutional and legal framework in setting up the economic corridor. As the main supervising agency for establishing the corridor, BIDA will be responsible for planning, development and management.

ADB wants to play the key coordinator's role among South Asia Subregional Economic Cooperation (SASEC), South Asian Association for Regional Cooperation (SAARC) and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) for enhancing cooperation and unity among the South Asian nations.

As part of the programme, the ADB has been conducting a study on increasing collaboration areas in developing infrastructure, partnership and economic cooperation and connect Bangladesh with the regional connectivity network by establishing a multi-modal economic corridor.

Primarily, the corridor will be established on Dhaka-Benapole and later on Dhaka-Sylhet.

The ADB noted that the economic corridor will be selected considering the existing roads and rail network and port facilities etc. The economically backward areas will also be considered.

Highlighting various steps by the government for the ease of doing business, one stop service law for attracting investment and boosting trade, BIDA executive chairman told the ADB representatives that the team will submit a practical and investment-friendly report to the government.

Mr Islam said the government wanted to develop an investment ecosystem in the country and the economic corridor is part of that system.

The government has been working on making sure that the corridor is pro-people, eco-friendly and inclusive.

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