Overview of the BEZA-EIPP Development Proposal
The development proposal jointly prepared by the Bangladesh Economic Zones Authority (BEZA) and Korea's Economic Innovation Partnership Program (EIPP) serves as a core implementation document for Bangladesh's 100 economic zones master plan. It presents a comprehensive blueprint for transferring Korea's industrial park development experience to Bangladesh and for facilitating investment by companies from both countries. The proposal is structured around four pillars: infrastructure development, investment promotion, institutional reform, and workforce development.
Transfer of the Korean Industrial Park Model
A central theme of the proposal is the structured transfer of Korea's industrial park development model. Drawing on successful cases such as the Ulsan petrochemical complex, the Gumi electronics cluster, and the Changwon machinery complex, the proposal adapts the Korean framework of concentration, clustering, and one-stop services to Bangladesh's local conditions. In particular, Korean-style smart factory platforms are expected to be introduced first in the Mirsarai, Mongla, and Araihazar economic zones now being advanced by BEZA.
| Area | Korean Reference | Bangladesh Application | Scale | Timeline |
|---|---|---|---|---|
| Industrial Park Design | Ulsan, Gumi, Changwon | Mirsarai, Mongla | $200M | 3 years |
| One-Stop Services | KOTRA investment support | BEZA investor service center | $15M | 2 years |
| Smart Factory | Manufacturing innovation centers | 10 pilot factories | $50M | 2 years |
| Workforce Training | Polytechnic, KIAT | 3 training institutes | $30M | 3 years |
| Logistics Infrastructure | Incheon Port, Busan Port | Chattogram hinterland complex | $120M | 4 years |
Investment Attraction Strategy
The proposal lays out a three-phase investment attraction strategy. Phase 1 (2024-2025) focuses on securing Korean anchor investors, Phase 2 (2026-2027) expands the effort to Japanese and European firms, and Phase 3 (2028-2030) aims at integration into global value chains. For Korean companies, the package proposes incentives such as a 10-year corporate tax holiday, guaranteed repatriation of dividends, and long-term land leases of up to 50 years.
Institutional Reform and Execution Framework
The proposal includes specific recommendations to improve the investment framework. Key measures include introducing a fast-track approval system to reduce the investment licensing period from 120 days to 30 days, strengthening dispute resolution mechanisms, and building a stronger intellectual property protection regime. On implementation, it proposes a Korea-Bangladesh joint committee on economic zones and a standing policy advisory role for KDI.