Kaliakair Hi-Tech Park has received $283 million in investment against proposed investments worth $1.636 billion, Posts, Telecommunications and Information Technology Minister Faqir Mahbub Anam said on 8 August.

Anam shared the figures during a visit to the country’s first hi-tech park in Kaliakair. He said seven companies from China, Japan, India, South Korea and the United States had proposed investments worth $629 million.

The visit formed part of the government’s review of its 180-day action plan. Anam said the government would accelerate investment at the park and strengthen technology-based industries under the “Made in Bangladesh” initiative.

The government also plans to introduce fiscal and non-fiscal incentives for investors.

85 companies at the park

Officials said 85 companies have received plots or space at the park. The group includes seven foreign companies.

Among them, 40 companies have started operations, while 28 are setting up plants. Another 17 companies expect to begin construction soon.

The government has spent more than Tk500 crore on basic infrastructure at the park. Companies have invested around $283 million, equivalent to about Tk3,245 crore.

Anam said a stronger business ecosystem could help the park create direct and indirect employment for around 100,000 people.

Technology manufacturing expands

The park hosts companies from a growing range of technology and manufacturing sectors.

Three mobile phone manufacturers, including Honor and Xiaomi, operate at the park. Two laptop manufacturers and three automobile manufacturers, including Hyundai, also operate there.

The park also produces IoT devices, routers, switches, CCTV equipment, air conditioners, refrigerators and home appliances.

Companies at the park also manufacture fibre-optic cables, ATM and cash recycling machines, kidney dialysis machines and kiosks. Two companies are currently setting up data centres.

Government plans more incentives

The government plans to introduce further measures to attract investment to hi-tech parks. These include duty and tax benefits on capital machinery and VAT benefits on electricity and gas.

The government also plans incentives for assemblers and emerging technology sectors.

Anam said predictable, long-term policies and better infrastructure could boost local production. They could also reduce import dependence, expand exports and create skilled jobs.

The government approved Kaliakair Hi-Tech Park in February 2004 on 231.65 acres of land. It added another 97.33 acres in 2016.

Source: The Business Standard