Bangladesh - সোনারগাঁও অর্থনৈতিক অঞ্চল
Situated strategically on the banks of the Meghna River, flowing into the Bay of Bengal and interconnected with the country’s main rivers, Sonargaon Economic Zone (SEZ) holds a prime location. With direct access to the Dhaka-Chittagong highway, it has successfully drawn interest from investors across Asia, Europe, and America. The potential for growth and connectivity positions it as a coveted site, offering state-of-the-art facilities, including a special 5-star hospitality venue, The Westin Dhaka, a sister concern of SEZ.
Pre-Qualification and Development Progress for Sonargaon Economic Zone
In 2016, the zone received its pre-qualification license from the Bangladesh Economic Zones Authority, marking a significant milestone. Initial development is underway on 450 acres of land, with an emphasis on attracting new firms and diverse industries to Bangladesh. SEZ follows a market-driven approach, aiming for commercial success by providing a range of economic zone facilities to accommodate current and future markets efficiently.
Sonargaon Economic Zone: Legal Hurdles and Operational Halting
However, recent legal challenges have interrupted the operations of Sonargaon. On December 14, 2023, the Appellate Division of the Supreme Court issued an immediate stop order against the earth-filling activities by SEZ in Narayanganj. The order followed an application filed by the Bangladesh Environmental Lawyers Association, highlighting environmental concerns and legal complexities surrounding the zone’s activities.
Despite these challenges, SEZ remains committed to navigating the legal issues and securing the necessary licenses to resume operations, demonstrating resilience and determination in the face of regulatory setbacks. The future trajectory of Sonargaon Economic Zone will likely depend on the resolution of legal matters and its ability to maintain its strategic appeal for investors.
NOTE: Operations may have been suspended.