Govt plans to set up 3 industrial parks

"We have asked the WB to provide funds for establishing three industrial parks, including one for the garment sector," Board of Investment Executive Chairman Mahmudur Rahman told reporters after a meeting with a five-member delegation of garment exporters.

He said the WB has agreed in principle to finance the project worth US$150 million.

The government is expected to sign an agreement to this effect with the WB in June this year.

Rahman said an industrial park for the garment sector would be developed at Gajaria, 30 kilometres away from Dhaka. "The industrial park will be able to address compliance requirements of the garment sector."

He said a Hi-Tech Industrial Park and an Active Pharmaceuticals Ingredient (API) Park would also be set up under the project.

The BoI Chief said the locations for the Hi-Tech Park and Pharmaceuticals Ingredients Park are yet to be selected.