Bangladesh Cancels Indian Economic Zone Project in Chittagong

Bangladesh has announced the cancellation of the Indian Economic Zone project in Chittagong. Now it has been decided to build a defense industrial park in place of the Indian Economic Zone.

According to international media, Bangladesh Economic Zones Authority (BEZA) Executive Chairman Chaudhry Ashiq Mahmood Bin Haroon told a press conference on Monday that the decision was taken at a meeting of the Governing Board of the Bangladesh Economic Zones Authority at the office of Chief Advisor Muhammad Yunus in Dhaka on Monday.

Chaudhry Ashiq Mahmood explained that a large area of ​​land was allocated for India’s proposed Indian Economic Zone in Chittagong. Since the project was cancelled, it was decided to use the land for a new defense industrial park.

Referring to recent global conflicts, Chaudhry Ashiq Mahmood said that sometimes it is not the lack of modern fighter jets but the lack of basic equipment that causes major crises; therefore, it is important to create the capacity to manufacture such equipment locally.