Govt issues ordinance to develop Maheshkhali as a major industrial hub

The government has issued an ordinance to develop Cox's Bazar's Maheshkhali area into a major industrial and commercial hub, including the establishment of the Matarbari deep-sea port, to attract local and foreign investment.

Published yesterday, the ordinance says the Maheshkhali Integrated Development Authority (MIDA) will be formed to oversee and coordinate the area's development.

The MIDA will prepare a master plan to develop the zone into a seaport, an industrial and commercial centre, and a modern township.

Under the plan, the Maheshkhali Island in the southeast region will be divided into several hubs, including a port and logistics hub, an industrial and manufacturing hub, a power and energy hub, and a fisheries processing hub, supported by township and ancillary service hubs.

To attract investment, the MIDA will introduce a one-stop service linked to the Bangladesh Investment Development Authority's system. It will also prepare guidelines on incentives for local and foreign investors, facilitate environmental clearances, and ensure dedicated port and customs facilities for investors.

The authority may offer bonded warehouse benefits and other customs privileges for industries in its jurisdiction. Additionally, it will provide incentives similar to those available under the export processing zone law to promote export-oriented industries, according to the ordinance.