The interim report on the Southwest Bangladesh Economic Corridor (SWBEC), submitted by the Asian Development Bank to the Government of Bangladesh on 13 June 2017, envisages huge economic gains for Bangladesh.

According to the report, development of the SWBEC will

• Enhance Bangladesh’s human capital, technological level, infrastructure, and backward linkages, to enable the country to diversify into higher value products and retain its overall export competitiveness; and
• Propel total output of the southwest region to $148 billion by 2050 – 3.3 times higher than the estimate under the business-as-usual scenario – through industries that have historically exhibited strong performance, such as textile and garments, and those that show high potential to accelerate industrialization in the southwest region, such as food processing, pharmaceuticals, and footwear.

Other key highlights of the ongoing study, include

• Additional 35 million employment in the region by 2050 – three times higher the estimate under the business-as-usual scenario, with around 25 million likely to be generated by the envisaged corridor;
• Two industrial nodes, covering five districts in the region – Dhaka, Narayanganj, Munshiganj, Khulna and Bagerhat; and
• Corridor spine that would run through key urban and economic centers, including connectivity to Mongla Port and Payra Port, that would be integrated with international corridors, including the SASEC, BIMSTEC, and SAARC corridors.

The study covers Phase 1 of the economic corridor project in Bangladesh, which runs from Jessore, Khulna to Dhaka, extending to Benapole. A full Comprehensive Development Plan is being prepared, to be followed by a Master Plan for the industrial nodes.